Just thought I'd share the fun I'm having THIS year (as opposed to the fun I have EVERY year with our bank at end of financial year).
Last year we chose to NOT prepay one of our fixed loans. We were charged $300 for someone to push a button somewhere to alert our bank to the fact that we would not be prepaying one of the five loans we had fixed.
So, what happens this year? Of course, we get paperwork for the four other loans and not for the one that we chose not to prepay last year. Nothing has changed. It is still fixed, and our documentation proves it should generate a letter to prepay it. The "one off" choice NOT to prepay should not have any impact on the documents generated this year.
But... nothing. Three weeks ago when the other letters all arrived the same day, I called our broker. He called our bank and was told the letter is "in the mail". Well, it ain't here yet, and last year this particular loan documentation needed to be back with the bank by 12th June. So I'm guessing this year is probably the same.
How these banks manage to run smoothly just amazes me... oh, that's right, they don't run smoothly
.
Is it just me...?
Last year we chose to NOT prepay one of our fixed loans. We were charged $300 for someone to push a button somewhere to alert our bank to the fact that we would not be prepaying one of the five loans we had fixed.
So, what happens this year? Of course, we get paperwork for the four other loans and not for the one that we chose not to prepay last year. Nothing has changed. It is still fixed, and our documentation proves it should generate a letter to prepay it. The "one off" choice NOT to prepay should not have any impact on the documents generated this year.
But... nothing. Three weeks ago when the other letters all arrived the same day, I called our broker. He called our bank and was told the letter is "in the mail". Well, it ain't here yet, and last year this particular loan documentation needed to be back with the bank by 12th June. So I'm guessing this year is probably the same.
How these banks manage to run smoothly just amazes me... oh, that's right, they don't run smoothly
.Is it just me...?
