banks performance standards

[poppy]

I'm considering purchasing with a 30 day settlement (not negotiable due to many other buyers available). I have a number of loans with the anz at the moment and I've found the quickest they can do the loan is 45 days usually its longer. I've considered trying another lender but now it is a bit late to go looking for another lender as I would have to return contract on Monday. Besides no guarantee that the new lender would be any better.

Just wondering if anyone knows if banks have performance standards for settlement times or do they just tell you tough luck you should have gotten a 60 day settlement. If the bank took 45-60 days to settle and I lost my deposit plus costs etc etc due to the bank's extreme slowness, do you think the bank would reimburse any of my expenses?

PS I do use a broker and he does contact them to chase the loans up but they still take an age!

 

[sailor]

Poppy that's terrible. Surely they value your custom? I would be getting onto the lending dept and jumping up and down...and if that didn't bring results, I would be climbing my way up the chain of command to the CEO and being a right little demanding s***!

This sort of service is not to be tolerated. They make a lot of money out of your interest payments. They should consider you and your needs to be paramount to their bottom line.

 

[Rolf Latham]

Hiya poppy

Its busy times but 45 times , nah..................30 days is achievable with almost any lender.

If the LVR is 80 % or below, and u are concerned jump ship with the ANZ and go adelaide bank. They dont do vals for metro places under 500 k and 80 %.

Average to unconditional in thats circumstance is 3 days, with fast external solicitors to do the work. In addition the variable rate is quite low with no min volume hurdles like 250 k

ta
rolf