The interest rate changes are entered on the date they change. I bought this and spent hours entering data, only to lose everything when we had the computer spit the dummy. I have since avoided entering it again, mostly because I am too lazy. But I will do it...... sometime. I certainly did find errors, some my way the mostly against us.
I was speaking to my broker the other day after he sorted out a stuff up by Westpac and he said that the banks hate these programmes, and he was most interested in what it spits out, especially seeing he just fought for us when Westpac tried to extract nearly $3 grand that it reckons we owe it, twelve months into a two year fixed interest period.
Turns out, they forgot to take out the June 2007 interest payment (which I didn't notice). They had to wait until June 2008 (which I did notice) and sent us a letter asking for another lot of $3K
.
Took our broker several calls and personal visits to the head office in the city to convince them that the second lot was uncalled for. Meanwhile, I have been delaying getting my tax to the accountant until I knew what the interest amount was going to be in total.
Really annoying because with our refund cheque I can wipe our PPOR debt clean, so each month is costing us $800 in repayments that we could ditch if Westpac had not stuffed up and taken so long to fix.
Bloody banks
I was speaking to my broker the other day after he sorted out a stuff up by Westpac and he said that the banks hate these programmes, and he was most interested in what it spits out, especially seeing he just fought for us when Westpac tried to extract nearly $3 grand that it reckons we owe it, twelve months into a two year fixed interest period.
Turns out, they forgot to take out the June 2007 interest payment (which I didn't notice). They had to wait until June 2008 (which I did notice) and sent us a letter asking for another lot of $3K
.Took our broker several calls and personal visits to the head office in the city to convince them that the second lot was uncalled for. Meanwhile, I have been delaying getting my tax to the accountant until I knew what the interest amount was going to be in total.
Really annoying because with our refund cheque I can wipe our PPOR debt clean, so each month is costing us $800 in repayments that we could ditch if Westpac had not stuffed up and taken so long to fix.
Bloody banks
