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Second tier to cut turnaround times in half

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Australian Broker | 28 May 2012, 06:00 AM Agree 0
A second tier has announced policy changes it says will cut its turnaround times in half
  • Choice broker | 28 May 2012, 09:50 AM Agree 0
    I will believe it when I see it!
  • Rach | 28 May 2012, 09:56 AM Agree 0
    Welcome changes BankWest! The premium select product is great, but I often find the assessment process overly time consuming - Also love the ability to print our own docs !
  • melo | 28 May 2012, 10:50 AM Agree 0
    Wow ,taken bankwest 15 years to go to one pay slip policy and in house LMI.Now if can accept emails and upfront valuations in ball park
  • David | 28 May 2012, 10:58 AM Agree 0
    Will only work if they start reading comments on applications and if the comments are passed through their automated process.
    Currently comments are not passsed to LMI electronically so LMI ask the same questions as one orignally put in the application and then had to provide separately to Bankwest staff.
  • Stephen Dinte | 28 May 2012, 11:16 AM Agree 0
    I have dealt with Bankwest on and off since 1995 and despite the oft repeated catch cry, "we have fixed that", I must say that from my experience, they are an absolute disaster to deal with. Have that not heard of the boy who cried wolf?? Wonderful products are of little use when the service levels constantly fail. Fool me once, shame on you. Fool me twice, shame on me!
  • Country Broker | 28 May 2012, 11:23 AM Agree 0
    I am a Bankwest broker and they have a good product in premium Plus and the rural resi is very good , these changes are very welcome , what concerns me is after document return the administration seems to go some what disfunctional ,east costs settlements at time seem to be unable or unwilling to look at the file notesand so on , and settlement delays can and do happen. It is not only a matter of approval times but the whole process from approval to settlement that counts and it needs improvment, I must say the BDM's are great and very helpful.
  • Vast | 28 May 2012, 11:24 AM Agree 0
    those efforts apparently aim to attract more applications by brokers but will be totally meaningless when Bankwest introduced a low rate 5.97% no fee product, which is not available for brokers, plus a $695 application fee's back.
  • 1martym1 | 28 May 2012, 12:36 PM Agree 0
    I am avoiding them because of poor past service (changes I will believe when I see it), their tendancy to bait and switch with today's loans cheap but repriced in a few years time when the new latest and greatest offer comes up. AND most importantly when you recommend a lender you don't want the client then jumping online (they do this) and checking out the lenders website only to find their online only product which is irresisitable for many rate chasers. Why a bank would cannobalise themselves is beyond me.
  • Broker | 28 May 2012, 04:44 PM Agree 0
    I swore to myself that I will NEVER use Bankwest again as they make my blood boil, so far , so good!
  • Positive Broker | 29 May 2012, 01:32 PM Agree 0
    I have been a loyal Bankwest Broker for a while but the last deal I submitted was the one that broke the camel's back. Great products, Great BDM but very unhelpful processing staff and systems.
  • ozboy | 30 May 2012, 11:23 AM Agree 0
    CBA in orange clothing.
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