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current NAB assessment time?

Discussion in 'Property Finance' started by beachgurl, 14th Jul, 2015.

  1. beachgurl

    beachgurl Well-Known Member

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    Does anyone know the approximate time for assessment with NAB at present? I've had some serious chain dragging going on by my professionals and quietly (well not so quietly) freaking out that we won't make settlement.

    In the past with hairy timeframes I've had CBA docs emailed to a branch for me to pick up. Does NAB have this facility available also?
     
  2. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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  3. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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  4. Redom

    Redom Mortgage Broker Business Member

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  5. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    I am doing a restructure for a client atm and they are extremely slow with that.
    For purchases they are a ot quicker though.
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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  7. jpcashflow

    jpcashflow Well-Known Member Business Member

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  8. kr11

    kr11 Well-Known Member

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    Hi jp
    how do the other majors, anz, west pac and cba rate these days in approval times, issue of docs and certifying them

    thanks
     
  9. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Can depend on brokers status with the particular lender - same day or one to two days is common if val has been carried out or isn't required.
     
  10. Redom

    Redom Mortgage Broker Business Member

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  11. jpcashflow

    jpcashflow Well-Known Member Business Member

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    Hi Kr11,

    What i find is if I have all of the documents and have ordered a valuation up front then I tend to find the process quick. In terms of issuing documents, it all depends on what type of loan is being set up "Etc". My favorite saying is this...

    [​IMG]it takes two of us to get the deal done: Client prepared what is needed and I prepare the loan structure and submit!!!
     
  12. Azazel

    Azazel Well-Known Member

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    Ours took ages just now, but maybe they didn't like us.
    We had to ask for an extension to the finance date a couple of times.
     
  13. Gockie

    Gockie Be the change you want to see in the world Premium Member

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    I had heaps of issues too, ended up getting 2 weeks of extensions but hopefully I get the docs in the mail tomorrow!!
     
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  14. Azazel

    Azazel Well-Known Member

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    Not happy to hear about your delays, buy good to hear I'm not the only one.
    Congrats!
     
  15. kr11

    kr11 Well-Known Member

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    It seems nab have got alot tougher on the 90% lvr front also. Even though my friend could service the proposed loan, with cashout they wanted contract of sale of new ip b4 allowing 90% cashout of ppor. Not simply an accountant letter.
     
  16. Redom

    Redom Mortgage Broker Business Member

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    What was the purpose of the cash out - accountant letter won't do if your trying to buy a new property, but will likely do (with NAB!)if trying to invest in shares.

    Cheers,
    Redom
     
  17. kr11

    kr11 Well-Known Member

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    It was for new ip. Having said that is there anyone to stop him saying it is 4 shares and then using it for something else
     
  18. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Yeah sometimes the Nab assessor will request one....weird I know. Because the accountant will then turn around and say "I didn't advise you to buy an investment property."

    Usually for when the cashouts are massive though.

    Who knows these days. I had a 90% cashout with Nab formally approved without hassle the other day. Just told them it was being used as the deposit/costs on a property worth $xxx

    Cheers

    Jamie