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  1. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    That's what puts us in a different leaugue to the folks playing Keno at the front bar. We do whatever it takes to get the job done. Nothing's too hard for us property investors! I know you guys didn't get to where you are now by being soft.
  2. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    It's not a policy thing, it's a product issue. This product is the only one with Westpac that has this restriction. In order to keep the process moving, I've opened the account. Seems the real issue was a breakdown in communication. The people in the branch hadn't been advised of this...
  3. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    My offset accounts are attached to other loans with other banks, so I don't need an offset for every loan.
  4. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    Apparently, my loan product is a Flexi First Option. It's the only resi product in their product range which has this policy. Settlement can't be booked until I meet this requirement. I'll just have to take the hit and brave the heatwave and go get it sorted so I can move forward.
  5. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    Thanks Kim. I'm fighting it. I'll see how that goes. It's gonna be over 40c today and heading out to the bank to open an account, after I've already been there signing docs just doesn't do it for me. Stay cool!
  6. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    I have a couple of loans with Homeside (NAB). They are happy taking the interest payments from my CBA account.
  7. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    Sorry, I should have said it was a re-fi. Might have made more sense. RAMS offered me a 90% lend. However, the valuation came in at substantially below what it ought to have. The Westpac valuation was much closer to the mark, but only at an 80% lend. Same cash take-out on the deal, but without...
  8. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    I'm running out of banks. Westpac was one of the last I could deal with. RAMS were keen on giving me a 90% LVR, but only at a 25% discount on the market value of the property, so Westpac got the deal. Small price to pay for a decent equity release and the ability to move forward. I shouldn't...
  9. Rob Williams

    Westpac require interest payments to come from a Westpac account. What the?

    I've just done my first loan deal with Westpac. All the docs are signed and we are good to go for settlement. BUT, at the last minute, they tell me that the CBA account I provided for the interest payments to come from isn't acceptable and I need to provide a Westpac account. Which means I now...
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