why the big banks are sending developers to the wall

I have heard that the price that the big banks end up paying for the likes of SGB and bankwest gets adjusted by all the non-performing loans. this explains why the minor sub banks are sending developers to the wall left right and centre. It's such a disgrace. thankfully my loans didn't happen to fall with any of those guys
 
I have heard that the price that the big banks end up paying for the likes of SGB and bankwest gets adjusted by all the non-performing loans. this explains why the minor sub banks are sending developers to the wall left right and centre. It's such a disgrace. thankfully my loans didn't happen to fall with any of those guys


Yeah it must be tough for developers right now , I'd imagine in a lot of cases the whole project is done on borrowed money and tight time tables so if there's a spanner like funds in the works many would be totally screwed in no time at all. Thats what happened in Las Vegas I think and down she went.

Cheers
 
I have heard that the price that the big banks end up paying for the likes of SGB and bankwest gets adjusted by all the non-performing loans. this explains why the minor sub banks are sending developers to the wall left right and centre. It's such a disgrace. thankfully my loans didn't happen to fall with any of those guys

Isn't the government now throwing funds at the second tier lenders?
 
these aren't the 2nd tier lenders (tho I would like to hear more about that? from what I have seen the 2nd tier lenders are in fopr the kill and they aren't taking prisoners). I am talking about these banks that have been bought out by the majors.

i just couldn't get my head around why bankwest and sgb etc were ruthlessly shutting guys down whilst their parent banks were assisting their customers... it didn't make sense. When I heard this it clicked.

probably the most respectable bank after this debacle has eventuated to be nab. who would have thought?
 
The irony is, by being so ruthless and not being willing to work with their clients they are greatly increasing the number of bad loans on their books.

Regards,

Cameron Perry
Perry Financial Strategies
 
Last edited by a moderator:
Top