The Bank

From: Even Steven


Hi everyone.
I have my finance through a bank (a big black and yellow bank) and I can only get statements every six months (no online information). Obviously this is a pathetic service. Can anyone recommend a bank that gives monthly statements and online information about account balances and transactions (for investment loans that is).
Thanks
Steve
 
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Reply: 1
From: Duncan M


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Erm I am with the Commonwealth which is Big, Black and Yellow.. we have
monthly statements and internet facilities to examine accounts etc.. who are
you with?

Duncan.

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Erm I am with the Commonwealth which is Big, Black =and Yellow.. we have monthly statements and internet facilities to =examine accounts etc.. who are you with?

Duncan.




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Reply: 3
From: Simon St John


ANZ now offers investment loan integration with online banking - very handy indeed.
 
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Reply: 4
From: Steve Kiddle


I use ANZ bank but the key is to find a Bank Manager who knows investment. Don't bother ringing the 131 numbers or 1800 numbers. They are usually uni students on the other end of a help line who have no idea about what you may be asking.
Reply if you need a personal contact name
 
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Reply: 4.1
From: Even Steven


Duncan
What type of loan account do you have? What's it called?
Steve
 
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Reply: 4.2
From: Rolf Latham


Hi

Remember though that any "Bank Manager" will only be as savvy about their products and wont say to you well you should actually also look at the other lender down the road, because they may:

A) Lend more on the same equity
B) Lend More on the same income
C) Lend without LMI
D) Accept different sorts of securities
E) Have cheaper AND more flexible product
F) May capitalise Mortgage Insurance

etc
etc
etc


My experience with people that already have large portfolios of IPs and loans where banks have been involved in the setup directly are not good.

Generally the lender only cares about getting their side of the business across the line, commonly sterilising further equity and or borrowing capacity.

What else could one reasonably expect though, who gets paid for what ?

If youre after a home loan and a ma an pa IP loan then youre local may be ok. But serious investors cannot go past someone with the multi lending experience of an independent mortgage broker. Its their life blood to make sure they dont snooker you, whereas your bank wont give a hoot.

Ta

Rolf
 
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Reply: 4.2.1
From: Felicity W.


I have finance through St George's Portfolio Loan and do everything on the internet.
Keep smiling
Felicity :cool:
 
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