Major bank extends credit assessments to Saturdays

by Adam Smith09 Dec 2014
A major bank has moved to extend its home loan assessments to six days, adding Saturdays to the mix.

ANZ has announced its assessment and document preparation teams will now be available six days a week, Monday through Saturday from 8AM-8PM EST. ANZ head of third party Keiran Evans told Australian Broker the move would give borrowers more confidence heading into busy buying periods.

"Everything we do is driven by customer demand, and Saturday is the biggest auction day. What this means is we will have more customers ready to bid at auction with the full confidence of having their facility approved," Evans said.

Evans said the new hours, which take effect immediately, will fit well into the bank's current service proposition.

"ANZ is operating on same day turnarounds. Combine that with the six day operations and people can apply for a facility on Friday, and by Saturday can go out and celebrate finding a property in the knowledge their facility has been approved," he said.

Evans said the move also reflected changing customer expectations.

"We're in the era of now. people don't want to wait. This is about removing angst and increasing excitement. It's about empowering brokers to deliver outcomes to their customers," he said.

AFG general manager of sales and operations Mark Hewitt said the move puts ANZ in line with the way brokers operate.

"We think it's a fantastic initiative. Broking for most successful brokers has become a seven-day-a-week job. To have the ability where they can have a credit team working on loans six days a week - particularly when Saturday is the busiest time for auctions - is a terrific move. Combined with ANZ's 24-hour turnaround, they're quickly becoming a market leader," Hewitt said.


  • by John 9/12/2014 9:32:01 AM

    Send it over to Bangladesh.

  • by Chappo 9/12/2014 9:49:33 AM

    Happy to hear that this will improve turn around times. I just hope that ANZ Assessors are not ringing me on Saturday when I'm not working! Had a bad experience with ANZ when they outsourced assessment to Bangalore and had them ring @ 9.30 pm to go through applicant's P&L Statements! When I asked them to call me during MY business hours they found that concept hard to grasp.

  • by Vic Regional Broker 9/12/2014 12:06:46 PM

    This is a great move, congratulations to the ANZ. Yes, it will involve Bangalore, but it will ensure some clients get quicker answers and settlements, so long as it is supervised from Melbourne and we do not get phone calls outside normal hours over in Australia, i.e. 9:00pm at night! (ANZ staff cop the same). All we need now is a 95% with LMI LVR for new to bank clients.