Current time frames for pre approval with Anz

Discussion in 'Loans & Mortgage Brokers' started by Coopersbrew4me, 22nd Mar, 2016.

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  1. Jess Peletier

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

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    Yep my experience with ANZ is really quick at the moment.
     
    Jess Peletier, 29th Mar, 2016
    #21
  2. Watson1

    Watson1 Well-Known Member

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    Looks like ANZ have already rolled out part of the assessment in China. Just got an email from pre-assessments and looks like it was done in China.

    Wonder if full assessment of the loans will be done in China too...
     
    Watson1, 4th Apr, 2016
    #22
  3. Terry_w

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

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    What happened to India?
     
    Terry_w, 4th Apr, 2016
    #23
  4. Corey Batt

    Corey Batt Well-Known Member

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    Still getting phone calls at 9pm from Bangalore for ANZ - haven't heard anything about China and doubt they'd do outsourcing there?
     
    Corey Batt, 4th Apr, 2016
    #24
  5. Watson1

    Watson1 Well-Known Member

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    Still probably doing the majority of the assessment.

    Went to an ANZ lunch in Feb which was mostly Asian brokers and they were talking about how they will be employing ~80+ assessors in Chengdu.

    I thought it would be just to cater for the non resi deals but appears they are looking after local deals too as the deal I submitted was a family pledge.

    Maybe part of Mike Smith's legacy as he was a big supporter of trying to break into the Asian market.
     
    Watson1, 4th Apr, 2016
    #25
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Using lenders that are fast is all good and well.

    typically though, ANZ is used for a specific policy or security requirement,that other lenders dont fit well.

    As an aside, we get the same level of same day to next day service with ANZ and WBC,and NAB (and used to be cba before they went stoopid with pricing )

    ta
    rolf
     
    Rolf Latham, 5th Apr, 2016
    #26
  7. Delfredo

    Delfredo Member

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    Why do we still bother with anz? For owner occupied $600k loan and <80% LVR their discount on SVR is only 1.15%, through a platinum broker.
     
    Delfredo, 5th Apr, 2016
    #27
  8. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Because anz have niches that some lenders don't

    While anz isn't a lender of lats resort, they aren't in my preferred top half

    Ta

    Rolf
     
    Rolf Latham, 5th Apr, 2016
    #28
  9. Corey Batt

    Corey Batt Well-Known Member

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    Reasons to use ANZ?

    • Contract of sale valuations
    • Strong cashout policy
    • Can be trusted to follow through with their policy (as much as a lender can be trusted)
    • 1 year financials for self employed applicants (becoming less relevent with some other lenders coming on board in this territory)
    • turnaround times - I had one deal go from submission to settlement over a five day period
    They're not a standard fit that I use for clients portfolios, but are certainly used for specific niches where other lenders just fall over.

    Lenders are a little like cars - there's no universal option which fits all needs. Some people need 4wd's, others a fast car, others something fuel efficient. The same can be said for lenders.
     
    Corey Batt, 5th Apr, 2016
    #29
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