Hi Brains,
It sounds like you are not talking to the right people in your bank. NAB, ANZ, and Westpac are the ones I am dealing with at the moment and I have been playing them off against each other. Westpac has been the most negotiable with NAB close behind and just recently the ANZ has lifted it's game. Also I am dealing with foreign banks for development finance - their rates and terms are much better than the locals.
I've found it's the individual with which you are dealing and the rapport/trust that is built up that is the most critical thing - more so than the the banks nominal criteria. Problem being is that the staff are very mobile so if I find a good one I now stay with the person.
Remember that it is all negotiable once you reach a certain level. Brokers seem to be of benefit until you hit around the $2m mark after that it is easier to deal with a senior individual from the institution direct.
Presentation is important - just recently I went in with three bound folders (some 500 pages of info/finances) to impress and argue my case, then found they offered me more than I expected (or their criteria normally would allow) . In fact when I discussed it with a very experienced broker (noone on this forum) he told me that it would never be approved by any of the majors and that I would have to seek Lite doc finance!
Regards, Michael Croft
It sounds like you are not talking to the right people in your bank. NAB, ANZ, and Westpac are the ones I am dealing with at the moment and I have been playing them off against each other. Westpac has been the most negotiable with NAB close behind and just recently the ANZ has lifted it's game. Also I am dealing with foreign banks for development finance - their rates and terms are much better than the locals.
I've found it's the individual with which you are dealing and the rapport/trust that is built up that is the most critical thing - more so than the the banks nominal criteria. Problem being is that the staff are very mobile so if I find a good one I now stay with the person.
Remember that it is all negotiable once you reach a certain level. Brokers seem to be of benefit until you hit around the $2m mark after that it is easier to deal with a senior individual from the institution direct.
Presentation is important - just recently I went in with three bound folders (some 500 pages of info/finances) to impress and argue my case, then found they offered me more than I expected (or their criteria normally would allow) . In fact when I discussed it with a very experienced broker (noone on this forum) he told me that it would never be approved by any of the majors and that I would have to seek Lite doc finance!
Regards, Michael Croft
" around 2.5 - 3 mill .... were still in short supply , so that section of the market was still holding up , but in particular, the investor section was weak . 
