CBA owner occupied, variable from 3.9%

Discussion in 'Loans & Mortgage Brokers' started by Sue, 23rd May, 2016.

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  1. 2FAST4U

    2FAST4U Well-Known Member

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    Exactly the same situation. It seemed as though they were doing everything possible to make me miss settlement and they messed up the loan documents. ! Their customer service has been poor. Today I got slugged with a $395 annual fee when I was under the impression that the annual fee was being waived...waiting for the lender to give me a call back today to explain the situation.
     
  2. Balman

    Balman Well-Known Member

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    Tell me about it... very annoying . I got my finance approval on the very last day it was due and now its been over a week and still waiting for the loan docs to sign and return. There seems to be something seriously wrong at the processing centre (must be on a go slow) as other banks now offer similar rates and they cannot use the excuse that the rate is highly competative hence greater apps.
     
  3. Terry_w

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

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    I just had a $2mil loan walk out the door because of this. The customer has an auction on thursday this week and we had lodged the loan more than 2 weeks ago. it took 10 days for someone to look at the file and then there were questions about the short term employment. My response on monday is not going to be looked at before Friday this week which is after the auction.

    Client goes into a CBA branch, the manager looked at the file online says it looks ok and that he can get it approved within 2 days.

    Client rings me and explains and is apologetic. He wanted to pull my loan application and go with the branch manager because of the time constraints. He needs to go to an auction so I had to say go for it.

    No escalations atm for brokers.
     
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  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    It's all over the shop right now. Post approval/pre settlement processes are terrible too. I've got a couple of refi deals that are causing new grey hairs to sprout - one client's been asked to fill out the same bloody form 3 times because the bank keeps stuffing it up!
     
  5. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    I just had a loan that was already formally approved spontaneously reassessed and given conditional. With no conditions. o_O
     
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  6. Terry_w

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

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    When I rang up to enquire about a loan they gave me the assessor's mobile number. I called up and she didn't seem to be working in an office as it was too quiet. I suspect assessors are working from home.
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Yep - some of them are offsite it seems. I've had this happen on deals assessed over weekends.

    They must have just had a massive recruitment drive - because there's a lot of weird stuff happening.....

    Cheers

    Jamie
     
  8. Terry_w

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

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    yeah i had a response 9pm sunday night!
     
  9. Balman

    Balman Well-Known Member

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    Wondering if CBA still had a cash back offer on new loans ?
     
  10. Terry_w

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

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    Yes, for refinances
     
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  11. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    $1250 for $250k+

    Cheers

    Jamie
     
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  12. Steven Ryan

    Steven Ryan Well-Known Member

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    Don't get me started.. :)
     
  13. Terry_w

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

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    Guess what - that branch manager could not get the approval done in time - blaming the broker stuffing things up.

    Client couldn't bid at auction, but it went for more than they were willing to pay anyway.
     
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  14. Omnidragon

    Omnidragon Well-Known Member

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    Nope have a 3.83% variable with one of them. Many are also doig 3.74% fixed
     
  15. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    CBA have had mums and dads do credit assessment from home for many years now.

    ta

    rolf
     
  16. Terry_w

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

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    Wow, didn't know that - this could be good if they work business hours. CBA could save on office space!
     
  17. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Doesn't surprise me - standard branch response.

    Cheers

    Jamie
     
  18. Corey Batt

    Corey Batt Well-Known Member

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    Branchland: Promise the world and under deliver. ;)
     
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  19. Terry_w

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

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    That (ex) client is still waiting for his approval!
     
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  20. L3ha7

    L3ha7 Well-Known Member

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    3.74% ...nice...is it for OO or IP and for how many years fixed?

    Thanks