ANZ So Slow & might lose property now

My solicitor said that ANZ (Perpetual) were still not ready for settlement the other day and I guess that means that have not given us a settlement date. They got the signed documents back last Tuesday. I only have until the 14th to settle so now I'm really worried. Damn, I wish I never made the mistake to go with ANZ, they have been so slow with everything. :confused:
 
If it makes you feel any better we are having exactly the same issues with another bank - took them a wk longer than the contract stated to approve pre approved finance - we were just lucky that we had patient vendors!
 
Late December / early January is always going to be a difficult time, no matter which financier you are with. Offices are often closed or minimally staffed, which is always going to cause delays at this time of year.

Hope it works out for you by the 14th.
 
Hiya

14th...............chill

you will be fine, especially with perpetual.

If it was the bank itself you might have a minor issue, but with 2 weeks to run you wouldbe hunky

ta
ta

rolf
 
We had similar experience with the bank, they seem to not care about getting anything done unless it is close to the deadline.

With our first loan they essentially did nothing and wouldn't talk to us and then a few days before the settlement date they called us saying there were some problems (owners name on title deed was wrong) but they sorted it out quick and it was fine.
 
If you've got until the 14th, I don't think you'll have any trouble settling. December can be a busy time, so some lenders are pushing back settlements that are in a few weeks over the more urgent ones.

The biggest problem with settlements in January is that solicitors like to take holidays. Your solicitor probably wanted to get things completed last week. You might find that things get booked at the last minute as your solicitor won't be available until the 11th of Jan.

Keep talking to your broker or lending manager. Personally I haven't had trouble getting getting ANZ to do things when it becomes urgent. If it's not urgent, you might need to hang in there.
 
If it makes you feel any better we are having exactly the same issues with another bank - took them a wk longer than the contract stated to approve pre approved finance - we were just lucky that we had patient vendors!
crossing my fingers then...

Late December / early January is always going to be a difficult time, no matter which financier you are with. Offices are often closed or minimally staffed, which is always going to cause delays at this time of year.

Hope it works out for you by the 14th.
yes I was trying to avoid getting caught up in it at this time but because the bank have taken weeks to go from one thing to another and other issues it has really dragged on to this.

Hiya

14th...............chill

you will be fine, especially with perpetual.

If it was the bank itself you might have a minor issue, but with 2 weeks to run you wouldbe hunky

ta
ta

rolf
thanks Rolf, well I'm sure you would know so it makes me feel better. :)
We had similar experience with the bank, they seem to not care about getting anything done unless it is close to the deadline.

With our first loan they essentially did nothing and wouldn't talk to us and then a few days before the settlement date they called us saying there were some problems (owners name on title deed was wrong) but they sorted it out quick and it was fine.
Yes my bank have also been taking things to the limit, they only pushed through unconditional approval 2 hours before deadline after waiting more than 2 weeks.

Well, I guess I will just have to wait but at least I feel more positive now thanks!
 
If you've got until the 14th, I don't think you'll have any trouble settling. December can be a busy time, so some lenders are pushing back settlements that are in a few weeks over the more urgent ones.

The biggest problem with settlements in January is that solicitors like to take holidays. Your solicitor probably wanted to get things completed last week. You might find that things get booked at the last minute as your solicitor won't be available until the 11th of Jan.

Keep talking to your broker or lending manager. Personally I haven't had trouble getting getting ANZ to do things when it becomes urgent. If it's not urgent, you might need to hang in there.

Yes my solicitor will be ready to go anytime but I think their ones won't be available after the 11th. I have no broker anymore and my bank manager is on vacation but I will keep waiting and hoping.
 
I learnt the hard way a few years ago not to have settlements anywhere near the first two weeks of January. I had to spend a few days in the car picking up and delivering documents between solicitors, clients & banks. The vendors solicitor wasn't available, despite everything else being in place 2 weeks before.
 
I learnt the hard way a few years ago not to have settlements anywhere near the first two weeks of January. I had to spend a few days in the car picking up and delivering documents between solicitors, clients & banks. The vendors solicitor wasn't available, despite everything else being in place 2 weeks before.

Tell me about it, I started in September I think so it should have been done months ago. It took me 2 days to find the property, the rest of the time has been waiting mainly for the banks. My first property was a lot easier and I have learned a lot now so next time I will do it myself again and make I sure I'm right there knowing what is going on and I will demand time lines instead of this guessing through 3rd parties and been locked out of the account.
 
I think you need to deal with someone who keeps you better informed. ANZ is taking about a fortnight to approve loans at the moment. They're not as quick as some, but they're a lot better than some others.
 
This year all my 3 bank stuff ups came from ANZ.
Too slow, many errors, no communication, can never speak to appropriate people, just a terrible experience.
 
This year all my 3 bank stuff ups came from ANZ.
Too slow, many errors, no communication, can never speak to appropriate people, just a terrible experience.

That sums up my experience too with ANZ. My solicitor said they are going to settle on the 14th, the last day and of course they always take it to the final hour which makes me mad. Until I get the keys, I won't feel good about this.
 
We had the CBA last year not want to settle on settlement day purely because it was the last friday of the financial year. And they told us this with a day or two's notice on a fairly long settlment. Conveyancer convinced them to go ahead with settling on time. I like my conveyancer :)
 
I had a similiar experience last year with one of the big 4. They were extremely slow in getting the loan documents organised & subsequently I missed settlement by several days. Fortunately the bank compensated me for the late settlement penalty fees incurred. Not sure if that's standard practice for them, but it may have had something to do with a complaint lodged with their customer service helpdesk. Allegedly they take their customer service very seriously... ;)

Em
 
last year cba took nearly 6 months to settle on a "refinance" on one of our ips from another bank due to lost documents (they apparently send them to indonesia!), general stuff ups, requests for even more info etc. we weren't even asking for more money - it was just a straightforward transfer from one back to another.

thank goodness it wasn't a new purchase.
 
Ive gone through Medfin which is the medical finance arm of NAB and finance final approval has taken about 3 business days. Im not sure about the retail NAB but medfin are generally very fast.
 
From memory Medfin do things quickly and out of the box for doctors but also in my experience seem to charge you top dollar for it as well...

With them watch the x-coll - they do as much as they can so when you go to sell/vary something you get stung somewhere along the line (more than usual).
 
Today I decided to go into the bank at ANZ and find out exactly what my refinance for my current PPOR first monthly payment will be? This was refinanced a few weeks ago to help buy the IP. My ex broker had said that I should have the IP settled before the PPOR refinance which I thought sounded hopeful and sure enough the bank was not ready to settle on the IP. My ex broker had put in a rapid refinance request I have learned so the PPOR is now with ANZ from a few weeks ago although a bit pointless as I only wanted to refinance to buy the IP. Even my lawyer was surprised that the refinance happened well before the IP is settled.

My previous PPOR repayments at Westpac were around $470 -$490 per month but now the bank manager has told me my first payment in a few days will be nearly $900. I was earlier told the new repayments would be around $690 but that was before last interest rate rise and after around $730 or something. So now I have to pay nearly $900 for the few few payments as my IP won't settle until the 14th as the bank was so slow including my ex broker messed up with wrong addresses where docs were sent etc otherwise this should have settled by now.

I told the bank manager that this is a bit unfair having to pay the higher interest rate (as I get a discount of 0.7% once I have both properties) and these high repayments but she couldn't care less and I just got the typical bad customer service from ANZ and there was nothing she could do I was told. Told her the whole point of refinancing was to buy the IP!!!!

I wonder how others would deal with this, would you just accept this or would you make an official complaint etc?

meanwhile, I wait until the 14th to see if I actually get the IP settled?
 
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