Advice - late settlement

Discussion in 'Loans & Mortgage Brokers' started by Helen Le, 31st Aug, 2017.

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  1. Helen Le

    Helen Le Active Member

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    But since they ask for a reduction, I feel that it is not nice to say no. But then again, I don't even know them and it costs me a lot more than that.
     
    Helen Le, 8th Sep, 2017
    #41
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    They're looking at saving themselves money, they don't care about your situation. They are asking you to fix something they have agreed to.

    It is not in your advantage to give in.
     
    Scott No Mates, 8th Sep, 2017
    #42
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  3. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    I would still charge the penalty interest. They can back charge the bank that caused the settlement to be late.
     
    Westminster, 8th Sep, 2017
    #43
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  4. dabbler

    dabbler Well-Known Member

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    Just work out quickly what it cost you say using 5 %, with the other costs and any extra legals, see what that is compared to the contract penalty, you can adjust if you want.....

    I see no reason "profit" from the situation, but as others say, no need for you to be the one carrying a loss either.
     
    dabbler, 8th Sep, 2017
    #44
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    You would be paying 4.5% interest per year on that - not per month. Same with the contract penalty it is per year not month
     
    Terry_w, 8th Sep, 2017
    #45
  6. Trainee

    Trainee Well-Known Member

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    Helen, give me some money. I will send you my bank details. Youll say yes because you dont want to be not nice, right?
     
    Trainee, 8th Sep, 2017
    #46
  7. Helen Le

    Helen Le Active Member

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    Yes, it's 9% per year. Thank you everyone for replying.
     
    Helen Le, 8th Sep, 2017
    #47
  8. Helen Le

    Helen Le Active Member

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    Trainee ... you're so funny ... :) :) :) Of course I'll say yes to everyone that asks nicely :)
     
    Helen Le, 8th Sep, 2017
    #48
  9. Perthguy

    Perthguy Well-Known Member

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    Did the settlement go through?
     
    Perthguy, 14th Sep, 2017
    #49
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