After complaining to my broker he got back to me after speaking to regional manager at Anz. Anz claim they should have a response for me tomorrow. (Thursday)
Fingers crossed.
I should have known this would happen when he called me to come in a see him for 5 meetings. I've been going through the whole process since July 15.
Turtle?
And so I wait....
Thanks for all your feedback guys. Next time around ill be using a broker from this forum for sure. I chose this guy because he is close to where I am stationed at the moment and he seemed quite knowledgeable, however quite slow!
Just for future reference is the loan...
Here's the email pasted. I have omitted some info of course.
Apply Online Application ID:
Lender Application ID:
Connective OSN Broker ID:
Applicants:
Response Date: 21 Aug 201317:36 PM
Status: Grant Conditional...
Broker forwarded an email from ANZ that says conditional approval granted 21/8
Broker advised me he will now request a formal approval letter but have not received one yet from bank. Has been a week now.
Heading should read 'Pre approval'
Been waiting on Anz now for 2 and a half weeks to give me formal pre approval for my loan. I understand that there is a lot of buying activity at the moment, hence increase in loan requests, but is this a normal timespan for a pre approval?
My broker...
Also I'm considering changing from a sole trader to a partnership with my non working wife.
If the partnership were to make a profit of say $100,000 and I distribute the earnings 50/50 for tax purposes, when applying for an investment loan in my name only, would the banks look at the income...
Yes I do have non deductible debt. Good thinking!
Also cant get my head around buying a property that although positively geared will most likely take forever to increase in value .