related story.
this happened this month.
big four bank.
person buys house two years ago and then proceeds to access equity last year and earlier this year, two more loans , title searches etc.
same person goes to another bank to buy property, QLD lender accuses person of fraud for providing rental statements on a property they don't own! QLD lender does title searches on all owned properties.
original bank now has three loans over a title that is still in previous owners name.
same bank also realized recently they have lent over $1m over a 5 year period over the title to a 2msq lane at back of property while owner had title at his home and could have re-mortgaged it to another lender, only noticed at 3rd top stage
there would be 1000's and 1000's of these cases out there due to the incompetence and care factor of junior and low paid staff in the banks
this happened this month.
big four bank.
person buys house two years ago and then proceeds to access equity last year and earlier this year, two more loans , title searches etc.
same person goes to another bank to buy property, QLD lender accuses person of fraud for providing rental statements on a property they don't own! QLD lender does title searches on all owned properties.
original bank now has three loans over a title that is still in previous owners name.
same bank also realized recently they have lent over $1m over a 5 year period over the title to a 2msq lane at back of property while owner had title at his home and could have re-mortgaged it to another lender, only noticed at 3rd top stage
there would be 1000's and 1000's of these cases out there due to the incompetence and care factor of junior and low paid staff in the banks