Changing from IP to PPOR loan - CBA

Discussion in 'Loans & Mortgage Brokers' started by Mick C, 28th Jul, 2015.

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  1. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    18th Jun, 2015
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    Location:
    03 9877 3000
    Has anyone else had issues with this process recently? We sent several maintenance requests last week, following the instructions detailed in the email from the CBA. We've had no response on any of them.

    Following up today, I was told that the CBA is having 'system issues', the entire process is on hold and they can't even confirm that they've received the requests.

    Given the CBA probably had many thousands of borrowers living in what was originally investment properties, it stinks to me like a deliberate effort to ignore these requests and make an extra profit at borrowers expense.
     
    Peter_Tersteeg, 11th Aug, 2015
    #21
  2. Jack Chen

    Jack Chen Well-Known Member

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    Location:
    Sydney
    Submitted my "Miscellaneous Applications" through my broker last week. Still waiting for it to be processed. Meanwhile I'm eating the 0.27% rate hike :(
     
    Jack Chen, 11th Aug, 2015
    #22
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

    Joined:
    18th Jun, 2015
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    Location:
    03 9877 3000
    Might be worth having your broker follow up about it. They won't even acknowledge that they've received the documents I sent them. Experience tells me that if I hadn't followed up, these requests would have simply disappeared, never to be processed.
     
    Peter_Tersteeg, 11th Aug, 2015
    #23
  4. S.T

    S.T Well-Known Member

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    Melbourne
    Send it to the CBA via registered post :cool:
     
    S.T, 11th Aug, 2015
    #24
  5. Watson1

    Watson1 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    197
    Location:
    Melbourne
    ANZ are sending out acknowledgements confirming changes from IVC to HVC to brokers as I received a number of emails today.
     
    Watson1, 12th Aug, 2015
    #25
  6. smator

    smator Well-Known Member

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    14th Jul, 2015
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    Location:
    Sydney
    Isn't it in their interest to convert to PPOR from investment? I guess if it's an investment they can charge more, but won't that result in them needing to raise more capital?
     
    smator, 12th Aug, 2015
    #26
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