Reno loan - which bank best during drawdown

[propertyVIC]

I'm getting quite fed up with ANZ's team with drawdowns on our construction loan to renovate/extend a home... constant requests for information, inability to speak to anyone with decision making power, refusal to pay for things they should pay etc etc.

Is this normal?

Any other banks actually provide better service once the building process is underway?

 

[Rolf Latham]

I'm getting quite fed up with ANZ's team with drawdowns on our construction loan to renovate/extend a home... constant requests for information, inability to speak to anyone with decision making power, refusal to pay for things they should pay etc etc.

Is this normal?

Any other banks actually provide better service once the building process is underway?

Normal ? yes indeedy. Poorly resourced, low profit area of most lenders that do it only because they have to............just like their discharge departments

CBA can be ok, as can Homeside where u are usually allocated a single human being for the progress of the loan.


But, you go construction loan, it goes with the Territory that you will have headaches


ta
rolf

 

[propertyVIC]

Loc?

Would it be less of a headache to get a line of credit then just change to a normal loan once the work is done?

 

[Rolf Latham]

if u have the equity then yes

ta
rolf