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STG Changes

Discussion in 'Property Finance' started by euro73, 11th Apr, 2016.

  1. euro73

    euro73 Well-Known Member Business Member

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    Screen Shot 2016-04-11 at 1.09.47 PM.png
     
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  2. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    Its about time
     
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  3. datto

    datto Well-Known Member

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    Good or bad?
     
  4. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    good.
     
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  5. tobe

    tobe Well-Known Member Premium Member

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    OMG next CBA will get an offset account, no wait....
     
  6. datto

    datto Well-Known Member

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    So we don't need a Royal Commission after all.
     
  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Just means they charge interest the same way other lenders do - the 'normal' way.

    Cheers

    Jamie
     
  8. datto

    datto Well-Known Member

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    Are we entitled to any refund of overcharged interest?
     
  9. kierank

    kierank Well-Known Member

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    Sure it.
     
  10. Blacky

    Blacky Well-Known Member

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    Hopefully they will one day figure out the direct debit issue as well.

    If you did a dd from another bank it would alway calculate and charge interest on the due date. Then the transfer would happen overnight and it would register as a late payment and charge a default interest (usually only a few cents, but would still show on the statement as 'default interest')

    Always fun times.
    Blacky
     
  11. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    They never charged extra interest but did a strange way of structuring it so that it ended up paying some of the principle of the loan.
     
  12. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Member

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    I bet they stuff up the maths and send out letters for arrears.