Nab
- Thread starter sydprop
- Start date
Thanks Rolf
Any recommendations welcome.....
Any recommendations welcome.....
not unusual
can help with a great person on the Gold Coast
ta
rolf
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Why is it not a broker deal? Did you mean because you are an employee or employer? I don't think you can say for sure either is better (depends on the person you end up with AND your circumstances) unless of course if you are already tied up in knots with your existing business bank.
Marty a broker can write a NAB employee deal, but they won't be paid for it unless they charge a fee to the borrower.
I think the main benefit of the employee deal with NAB is a 0.05% discount which can usually be negotiated anyway. The real discount is they usually don't have to pay the LMI premium up to 90%.
Unfortunately my experience dealing with NAB direct are not happy ones.
I think the main benefit of the employee deal with NAB is a 0.05% discount which can usually be negotiated anyway. The real discount is they usually don't have to pay the LMI premium up to 90%.
Unfortunately my experience dealing with NAB direct are not happy ones.
Unfortunately my experience dealing with NAB direct are not happy ones.
Agreed, much better though when you have someone in there that thinks like you do, and actually wants to provide a great level of client service
I have been very fortunate to have same in resi and comm of late
ta
rolf
Hi Sydprop
My dealings with NAB direct in the ACT have been similar to what PT has mentioned....I do have a contact down here - who is generally pretty good. However, I get the feeling that it's the behind the scenes stuff (credit, verifications, ect) that make life a lot more difficult than it needs to be when dealing with NAB direct.
Feel free to PM/email me for my contact if you like.
Cheers
Jamie
My dealings with NAB direct in the ACT have been similar to what PT has mentioned....I do have a contact down here - who is generally pretty good. However, I get the feeling that it's the behind the scenes stuff (credit, verifications, ect) that make life a lot more difficult than it needs to be when dealing with NAB direct.
Feel free to PM/email me for my contact if you like.
Cheers
Jamie
Ahh nab employee... sorry missed the gist of that entirely.
Hmm I think you'll find more problems with ANZ than NAB...but that's just my opinion.
You're right Peter - this is the attractive but part of me is wondering if it is worth the hassle.... both now and into the future
I could be thinking of the wrong lender here, but you might find you only get the 90% LMI waiver on your PPOR (I could be thinking of ANZ or Westpac). Worth checking!
Also keep in mind that LMI is still applied to the loan, but the bank pays it on behalf of the employee. It is still assessed as if it is a normal LMI deal, you're just not paying the money.
Also keep in mind that LMI is still applied to the loan, but the bank pays it on behalf of the employee. It is still assessed as if it is a normal LMI deal, you're just not paying the money.
Interestingly the 90% does apply to IP's (or so they have told me) and you can do IO. I am after the flexibility of accessing the equity (my overall gearing level is a lot lower than that).
However, they won't draw down the balance to 90% into an offset type account - it needs to be a specific evidenced purpose. I suppose this is understandable at such a high LVR.
However, they won't draw down the balance to 90% into an offset type account - it needs to be a specific evidenced purpose. I suppose this is understandable at such a high LVR.
Are you talking about their cash out policy (refinance or top-up to access equity)? It's quite common that it gets tricky with many lenders.
Damn.... hmmm.... are there any lenders that are actually 'good'?
Lucky it's just one property and a simple IO variable loan in personal name. ANZ valued it at 445, NAB at 380. How's that for a variation?
I did start to go down the route of moving a HDT property to ANZ... yowers! They requested I get a Private Ruling! Sure ANZ, speak to you again in 8 months!
what day of the week is that
If you think that's a good variation try this one.......... client estimate 1700 K, CBA valuation 1465, ANZ valuation 1665.............. Residex 1720
Thanks
Rolf
The others are OK, it's just ANZ which are turning off their customers and/or brokers.
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