On another note
This just came out by ANZ - CBA is doing similar - probably the rest are as well
Hope it doesnt affect you then
Flood update
As a result of the floods occurring around Australia, ANZ is working through issues affecting our customers.
Please see attached flood affected postcode list (as at 21 Jan 2011) which includes postcodes that have had minimal impact to the land area in the postcode. This list will be revised over time and postcodes will be added and removed - your BDM will be able to provide you with the most up-to-date information.
As a responsible lender, ANZ has defined the following requirements for all loans in flood affected postcodes until further notice.
All loan applications for properties not located in flood affected postcodes will proceed as normal.
Applications in progress
For all loans that have been issued a Letter of Offer but Settlement has not yet occurred and the security is located in a flood affected postcode, a dedicated team has been set up within ANZ Credit Assessment and Fulfilment to manage customer applications. The dedicated team will contact brokers and ask them to hold a conversation with their customer covering the following topics:
• Proof of Building Insurance;
• Confirmation that the customer's property has not been flood damaged; and
• Confirmation that the customer's ability to service the loan has not been impacted.
This information will need to be completed on the Flood Affected Loan Template and faxed to 1800 501 231 (together with proof of insurance policy eg. copy of cover note or insurance policy).
For all loans that have not been issued a Letter of Offer (eg AIP, AST and APL) and the security is in a flood affected postcode, we request that brokers contact their customers and have this discussion (refer to bullet points above). To complement this discussion, you will need to complete the Flood Affected Loan Template as detailed above.
For all LMI Loans, a Full Valuation is required for flood affected properties. In all other cases, ANZ Credit Assessment will advise if an updated Valuation is required.
This just came out by ANZ - CBA is doing similar - probably the rest are as well
Hope it doesnt affect you then
Flood update
As a result of the floods occurring around Australia, ANZ is working through issues affecting our customers.
Please see attached flood affected postcode list (as at 21 Jan 2011) which includes postcodes that have had minimal impact to the land area in the postcode. This list will be revised over time and postcodes will be added and removed - your BDM will be able to provide you with the most up-to-date information.
As a responsible lender, ANZ has defined the following requirements for all loans in flood affected postcodes until further notice.
All loan applications for properties not located in flood affected postcodes will proceed as normal.
Applications in progress
For all loans that have been issued a Letter of Offer but Settlement has not yet occurred and the security is located in a flood affected postcode, a dedicated team has been set up within ANZ Credit Assessment and Fulfilment to manage customer applications. The dedicated team will contact brokers and ask them to hold a conversation with their customer covering the following topics:
• Proof of Building Insurance;
• Confirmation that the customer's property has not been flood damaged; and
• Confirmation that the customer's ability to service the loan has not been impacted.
This information will need to be completed on the Flood Affected Loan Template and faxed to 1800 501 231 (together with proof of insurance policy eg. copy of cover note or insurance policy).
For all loans that have not been issued a Letter of Offer (eg AIP, AST and APL) and the security is in a flood affected postcode, we request that brokers contact their customers and have this discussion (refer to bullet points above). To complement this discussion, you will need to complete the Flood Affected Loan Template as detailed above.
For all LMI Loans, a Full Valuation is required for flood affected properties. In all other cases, ANZ Credit Assessment will advise if an updated Valuation is required.
of course.
