Loan application commenced last Monday (22nd). They came back on FRIDAY and said they need a privacy consent form with their letterhead, not BankSA (even though my broker is speaking to a BankSA Business Development Manager and the loan brochure was branded BankSA).
That got submitted to them Saturday (27th) (as it needed to be signed by myself and another party)
It was escalated to "Urgent" by my broker on Monday 29th and they responded that it would be assessed within 24 hours.
They told us on Tuesday it would be assessed within 24 hours.
They told us on Wednesday it would be assessed within 24 hours.
They told us on Thursday it would be assessed within 24 hours.
It's now Friday and we've still not had any word of whether or not it's been allocated to an assessor.
To summarise -
So that's 11 days (Monday - Saturday, Monday - Friday) in total that they have had the file and they still can't give an answer as to when it will be reviewed.
It was escalated to urgent on the Monday the 29th and they have still taken 5days and this urgent file still hasn't been allocated to an assessor.
The broker has been in contact with their Business Development Manager yesterday and it still hasn't been allocated to an assessor.
I've requested 3 extensions to the cooling off period from the Vendor this week. First to Wednesday, then Thursday, now the Vendor's Solicitor has granted a final extension to 3pm tomorrow, after which time cooling off period ends.
It's a bit of a joke and anyone considering using St. George for finance, I'd strongly advise against it if you have any hopes of things being completed in a reasonable time frame. I've been told by my broker that other banks are normally capable of providing approval on a file within 4-8 hours after being escalated to Urgent.
That got submitted to them Saturday (27th) (as it needed to be signed by myself and another party)
It was escalated to "Urgent" by my broker on Monday 29th and they responded that it would be assessed within 24 hours.
They told us on Tuesday it would be assessed within 24 hours.
They told us on Wednesday it would be assessed within 24 hours.
They told us on Thursday it would be assessed within 24 hours.
It's now Friday and we've still not had any word of whether or not it's been allocated to an assessor.
To summarise -
So that's 11 days (Monday - Saturday, Monday - Friday) in total that they have had the file and they still can't give an answer as to when it will be reviewed.
It was escalated to urgent on the Monday the 29th and they have still taken 5days and this urgent file still hasn't been allocated to an assessor.
The broker has been in contact with their Business Development Manager yesterday and it still hasn't been allocated to an assessor.
I've requested 3 extensions to the cooling off period from the Vendor this week. First to Wednesday, then Thursday, now the Vendor's Solicitor has granted a final extension to 3pm tomorrow, after which time cooling off period ends.
It's a bit of a joke and anyone considering using St. George for finance, I'd strongly advise against it if you have any hopes of things being completed in a reasonable time frame. I've been told by my broker that other banks are normally capable of providing approval on a file within 4-8 hours after being escalated to Urgent.
