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Optimism, frustration fuel new year broker shift

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Australian Broker | 27 Mar 2012, 06:00 AM Agree 0
Brokers are increasingly shifting away from the majors as optimism returns to the mortgage market and some brokers become frustrated dealing with the big four
  • Country Broker | 27 Mar 2012, 10:16 AM Agree 0
    AFG have already denied they are a takeover target , now more comments, could it be the banks are making offers in teh market place?
  • Peter | 27 Mar 2012, 10:23 AM Agree 0
    Have been trying to use "Non Majors" but frustrated with service offered. Most recent case, submitted deal on 5th March, and only after asking BDM for escalation of file, received "Conditional" approval 26th March. 21 days for a 40% LVR, clean credit and serviceability ratio of almost 3:0 is likely to see me stay with majors, where I am sure this deal would have been turned around in 3-5 days
  • Broker | 27 Mar 2012, 08:26 PM Agree 0
    Yep I agree 100%, recently submitted a refinance deal to Citibank on February 9, that will not and never looked like settling by the end of March , despite me sending a discharge authority to out the outgoing lender a week after submission and multiple escalations from my BDM throughout the process. Service to broker’s right across the board seems to be of little priority to all lenders, more so today than I ever recall over the past 10 years.

    Try Bankwest too, they are simply unbelievably shocking. Hadn’t used them in 7 years, and I reckon they are actually worse than I recall them 7 years ago, I never thought that would be possible.

    Time is money, and Brokers are wasting far too much time these days. It is high time that all lenders lift their game; they have no excuses whatsoever.
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