ANZ mobile lending slooooooow process. HELP!!!

So, we started the application process nearly 3 months ago with an ANZ mobile lender rep. The thing dragged on forever and last week we had settlement but he asked for a week extension. This week it still looks like we will not meet the settlement deadline because he didn't even come back with the approval docs. It's a 70% LVR loan, he doesn't have a supervisor, I don't know what to do! I don't know who to talk to speed this up and get this over the line!? Any help would be greatly appreciated!

 

ditch him. call one of the brokers here. There are no circumstances where a 70% ANZ purchase deal cant be done in 3 months - especially with a no val policy on purchases

 

Thats just crazy. Ditch him!

 

Isn't it a bit too late now? Settlement has been delayed for this coming Thursday. How can I get this sorted somewhere else in 4 days!? How long can settlement be delayed in Victoria without losing the deposit?

 

Actually they did a valuation that came back at purchase price, but because the poor state of the property they only offered to lend 70%.

 

To lose your deposit the vendor needs to lodge a recission notice and give you 14 days. I'd be using someone else. A broker might still do this with ANZ. But I think the issue here is the mobile lender hasn't told you the whole truth. If you haven't got the approval docs after 3 months another week isn't going to make much difference.


If it's the state of the property that's the issue, you need to show you have the funds to bring the property up to standard. Fix the bathroom and kitchen, so it's livable and sellable by the bank if you don't make the payments.

 

That is a bit crazy - ANZ have been ever so slow of late and have caused delays all round, but not 3 months slow.

Best to hand hold them and manage them through the process - its unfortunate, but your so far down the line, its probably quicker to finalise with him then start again elsewhere.

Try and work out exactly where things are at with the application, when it was lodged, reviewed, approved, docs sent out, etc. Give them a call and get as much info out of them as possible.

In general, approval timing is where things are getting delayed with ANZ at the moment. Something like 10 business days to do an approval.

Once approved, docs can be emailed over to you within 24-48 hours, once returned, takes a few days more/a week to be ready to settle.

 

That's what they asked for at 80% LVR and they waived this for 70% LVR which we took because I though it will speed the process, but to no avail. Glad to hear that I have 2 weeks after a recission notice.

 

Who should I call? The ANZ mobile lending guy doesn't answer my calls, just texts me telling me he's waiting for documents. He says he doesn't have a supervisor, so I have no clue as to whom to query!?

 

@marioland I have sent you a PM.

 

Call the customer call centre - they should be able to help you

 

Or just go into a branch and ask for the lending manager. Make a scene. Or alternatively just use a broker.

 

Thanks for your replies. Will try a branch tomorrow morning and let you know how I go.

 

It is a franchise, but if you make a fuss in the branch you might get somewhere. The branch will have a central number for the franchisor you'd hope, if not the franchisee.

 

Ridiculous customer service on the mobile bankers part - three months is unacceptable.

Anz will email docs - request that when you go into the branch. That will speed things up a little. Sign the docs in branch too (so there's less risk of making an error) and then express post the docs back to the settlements team. Have the local branch banker escalate everything. Get their direct number/email and request frequent updates.

 

Threaten, in writing, that you will make a complaint to the Credit and investments Ombudsman within 24 hours if you do not get a satisfactory update. Do this to the so called broker and to the ANZ complaints line.
Credit and Investments Ombudsman (CIO) - CIO

And don't count on having a 14 day notice to complete. You may or may not have this, it will depend on the state and the terms of the contract.

 

Also request that they compensate you for any late settlement costs.

 

And the lost deposit!

 

Here's an update to the loan application. I've talked this morning with the Mobile Lender Principal from which this broker was part of and also went into a branch and asked about the progress of the loan which didn't seem to help much because they've called my broker to ask him about the loan. But one of the two must have done something to push things forward because I have just received a call from the broker to let me know that we've gone unconditional and tomorrow morning we will sign the documents so we can settle on Thursday.

Thank you guys for all your help!