Maybe get him to get a second opinion? If the LVR is under 80% then unfortunately both the lady and her computer system were wrong or were both having a bad day.
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- Thread starter HotRod
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Maybe get him to get a second opinion? If the LVR is under 80% then unfortunately both the lady and her computer system were wrong or were both having a bad day.
Yeah I double checked with my dad, his below 80% LVR. So I've sent a msg to the loan manager at westpac, I'll let you know how it goes. Thanks for the help.
lol the loan manager got very abrupt when she was told this and pretty much said that she doesn't care what a broker said and westpac's policy is what she said it was and they don't lend to any body that has more than 50% of their income from rents.
So apparently she wasn't happy hearing all of that lol. It's kind of nice making the bank manager unhappy, it's a nice role reversal.
Westpac by far has the best customer service I have found so far as well. That's largely in part to the loan manager that I deal with directly. She is very very good. She went on holidays though and I got to see how hopeless the other loan managers were... that was a painful experience.
What I've learnt is that Brokers are only as good as the banks they deal with.
But to be honest no matter which bank you go through, whether you use a broker or not, my experience is that you will be royally ****ed around for months due to bull **** reasons.
Ah the joys of getting finance
I would dare say it's not Westpacs service that is good. its the loan manager that you're dealing with.
Find a banker/broker that you're happy with and stick with them
Mate seriously what can I say? - here are your options:
1. Go to another branch (and hope the this lending officer actually knows their own policy)
2. Speak to a broker
3. Go to another bank (and hope they too know their own lending policy)
....I hope you go with Westpac via other means and then come back to her and whip out the approval. I would pay to see her face.
so......don't have an LVR over 80%?
Yeah we shall see how it goes. Bloody banks are hopeless.
I'm thinking of helping them with some policy suggestions now that I've figured out the way they work.
Here are some I've been working on:
(1) Do not lend on properties that are painted dark colors
(2) Do not lend on properties that are on a corner block
(3) Do not lend on properties on a street starting with the letter "w"
(4) Do not lend on properties with more the 7 trees in the yard
(5) Do not lend on properties that have a m2 land size which is an even number.
Thanks for that lesson Crabnet. I think they make all complicated to create jobs
Anthony Woodman? Good guy, we use him a bit and just sold his neighbours house!
The very same man. Anthony is master. Looks after a few of my friends as well as me.
I like how he understands real service is about "solving the clients/customers problems". As in my case wife hates forms etc so will stay with bad deal out of lazyness. Anthony says sign here, and does the rest.
regards Peter
Cough cough typical mortgage holder $250k cough cough. I'll be doing a happy dance as I'm at 1.1m and drawing down to 1.8m by year end.
who has a $250k mortgage....? honestly.
CBA hasn't passed it down yet...
It's already announced that it has, gets passed on tomorrow.
So How much ia a typical Heritage mortgage? Ive got 7 mortgages under 250k.
I'd say 100% of new mortgage holders.
And a lot of old multiple mortgage holders, and people who don't have a paid job, and people who don't meet servicibility requirements to get more than 60% LVR.
Today, huh? Fantastic.
Looks like I fixed too soon at 4.99%! Oh well!
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