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#2761 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Building companies Millbrook Homes, Bentley Homes and Toplace collapse, entering liquidation or voluntary administration
https://7news.com.au/business/proper...ion-c-11243068
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2762 | |||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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Quote:
https://www.ratecity.com.au/home-loa...r-less-than-80
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#2763 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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So the broker wasn’t agile enough or the institutions were too slow?
Either way, probably a stress nobody needed. |
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#2764 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2765 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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Essentially, evaluators took a long time and the deal lapsed. However, with variable rates its likely they wouldve changed with the lastest RBA rate hike.
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cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#2766 | |||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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Quote:
__________________
cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#2767 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Hoping for less b
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2768 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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#2769 | ||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,559
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Who will do nothing different because Lowe hasnt been making captain calls.
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#2770 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Anyone coming off a fixed rate and onto the cliff, speak to your bank about a rate review and retention bonus. Don't just automatically accept the default "discounted" rate.
My current bank calls me today, and immediately offered a rate drop plus a retention cash back, after my broker had lodged the refinance settlement forms ![]() I said the rate offer is not good enough, and the retention is only half of what I'm going to get with the new bank, so they are going to call me back on Monday with another offer.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2771 | ||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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It's in the banks best interest to make a deal. Too many could easily just claim squatters rights or walk away from the house if the repayments are completely unrealistic. There are literally millions of people on the knife edge once coming off fixed rate and back onto variable.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2772 | ||
Donating Member
![]() Join Date: Jun 2007
Location: Checking out soft furnishings....
Posts: 8,684
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NAB literally don't care about losing a customer, after speaking in depth with my broker, he's refinanced 40% of his NAB customers that aren't business accounts.
My broker rang on my behalf and they wouldn't budge. I then spoke with NAB they only dropped it .25%. I asked them to drop it .75% to be in line with the market rate. Long story short they told me I was high risk and valued my asset at 30% below it's actual worth. No matter what I said on the phone, even saying to look up prices sold from that area in the last 6 months for the same asset, they wouldn't budge and said I was high risk as my loan was more than the asset was worth. For the record, the loan is much less than the asset is worth in the current market. So I told them that I'll be refinancing in November and I will be putting the full amount owed on the loan into offset so they wont get another $1 from me. They said to go for it. So true to my word I put the full loan amount into my offset for that asset. I then called a week later and said I'd remove the offset if they dropped another .5%, they said no and that I'm still high risk. I've never missed a single payment in 12 years for any of my loans. So, the offset will be staying in and i'll no longer be with NAB for that loan, come November 1st. Already been pre-approved for refinancing from two places with great rates and 4k cash.
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Proud owner of the ugliest Ford ever made |
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#2773 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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What a bunch of idiots.
I’m also wondering - assuming you disclosed crypto assets - if that ticks another box on their risk assessment as if a gambler. Last edited by Citroënbender; 21-07-2023 at 04:16 PM. |
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#2774 | |||
Critical Thinker
Join Date: Jan 2005
Location: Adelaide
Posts: 20,324
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Quote:
I remember in the early 00's my wife used to work for a well known bank and she told me there was business people and those who had hundreds of thousands if not millions in the bank that were able to get special (realistic) deals from their branch. If those deals were not met to the customers satisfaction, the customer would pull out all their money and go elsewhere. Meantime, the branch manager of the bank would get hauled over the coals by their regional managers for letting high value customers like this walk as it looks bad on their books. It then reflects on the regional manager because targets were not met. They lose their bonuses for the quarter/year. I dont know how it is nowadays, but I know someone pulling out significant coin from a branch can fair badly on the managers especially if you are a high value customer.
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"the greatest trick the devil pulled, is convincing the world he doesn't exist" 2022 Mazda CX5 GTSP Turbo 2018 Hyundai Santa Fe Highlander 1967 XR FALCON 500 Cars previously owned: 2021 Subaru Outback Sport 2018 Subaru XV-S 2012 Subaru Forester X 2007 Subaru Liberty GT 2001 AU2 75th Anniversary Futura 2001 Subaru GX wagon 1991 EB XR8 1977 XC Fairmont 1990 EA S Pak 1984 XE S Pak 1982 ZJ Fairlane 1983 XE Fairmont 1989 EA Falcon 1984 Datsun Bluebird Wagon 1975 Honda Civic |
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#2775 | |||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,046
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Quote:
We have adjacent properties for our business, and tried to swap the title being used as security for our overdraft from one property to the other. Took months of back and forth, and in the end, they'd only let us move the security if we also added the house as additional security. Unsurprisingly, we didnt take them up on it, and they were actually surprised we wouldn't. |
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#2776 | ||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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They are the ones now literally trying to pay me to stay. If they were smart they would have come to me 2 to 4 weeks ago, I would have taken the deal and stayed. I actually didn't mind their service and their products. But now that I've gone through all the paperwork and have a slightly better deal, there is no incentive.
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~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2777 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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Yep looks like only choice I have is to go new broker and lender.
2 weeks since I asked them to push a rate reduction through after they another 2 weeks before that. Over a month since I first reached out and nothing. I'd like to say the service has been **** but it's been nonexistent. I get that they would be busy, but that's taking the **** ![]() Old broker is on holidays so perhaps I try going direct to the bank themselves. |
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#2778 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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A month off rolling over one chunk, got to say ME Bank are still offering the best rates but the reviews, hmm! Is it worth the extra $150 interest over a year for the kind of grief people are writing of?
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#2779 | |||
Donating Member
![]() Join Date: Mar 2007
Location: Heading thru Hell (Corner)
Posts: 8,182
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Quote:
I've been with ME Bank, as both a ![]()
__________________
Labels are for jars, not for people. Life is a journey, not a destination. ~~~~~~~~~~~~~~ Daily: 2013 FGII EcoLPi in Winter White Play: 2015 FG X XR8 in Emperor Show' N Shine thread Gone, but not forgotten: 2015 SZII petrol Titanium Territory in Emperor Last edited by FoxtrotGolfXray 5.0; 25-07-2023 at 11:26 AM. |
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#2780 | ||
DIY Tragic
Join Date: Apr 2018
Location: Sydney, more than not. I hate it.
Posts: 21,851
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That’s reassuring, thanks.
I realise people often take to Trustpilot, ProductReview etc when they have an axe to grind but my main concern after reading some of the reviews was - if after 12 months they weren’t the most competitive - how hard was it going to be for shifting money elsewhere? Complaints generally seemed to be around account access, getting locked out first wrong try, help desk just an unhelpful script reader, that sort of thing. |
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#2781 | ||
Donating Member
![]() Join Date: Mar 2007
Location: Heading thru Hell (Corner)
Posts: 8,182
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No probs. I'm just telling it as I have experienced it. But I appreciate that everyone's experiences can be different.
Addressing the issues you've listed, again, based on my own experience: I find access to be really easy. I mostly use the ME app, as it does most of the basic things that I need to do: check on account balances, move money between my everyday day account, savings account and home loan; make payments via bpay or via direct debit, including setting up new payees; see what the current interest rate applicable to my account is. There are some things that you can't do in the app, and need to head across to the website to do. For those, I can simply navigate to the web page from the app, noting that I still need to put in my login credentials (which is a good thing, IMO). That happens so infrequently, I can't even think now of why I need to head across to their webpage! I can't recall ever being locked out of the online banking portal. I'm sure I've got my credentials wrong, so it's not like there's never been the opportunity for me to be locked out. Has worked no probs for me. I think it's like most help desks: it depends on who you get. I won't lie, there have been the occasional time where I've got someone who hasn't been as helpful as most, but that is pretty rare. Most of the time, I get good service when I need to speak to someone. There are times it can take a while to get through, but it's better than most over the phone services I deal with. But, again, I rarely have to resort to calling for assistance. I would estimate that to be maybe once every 3 months? Again, all of the above is just my personal experience, the experience of others may be different depending on the frequency they call upon those services. Hope that helps.
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Labels are for jars, not for people. Life is a journey, not a destination. ~~~~~~~~~~~~~~ Daily: 2013 FGII EcoLPi in Winter White Play: 2015 FG X XR8 in Emperor Show' N Shine thread Gone, but not forgotten: 2015 SZII petrol Titanium Territory in Emperor |
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#2782 | ||
FF.Com.Au Hardcore
Join Date: Feb 2013
Location: Perth
Posts: 826
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My experience with has been good. Had them for my first home loan years ago, basic loan and no issues. Refinaced with them a few years ago and again no issues. Missus has put in wrong password a few times with no issues, simple online banking (I suppose they all are), easy access to redraw - no limit and funds transferred within 24 hours.
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#2783 | ||
FF.Com.Au Hardcore
Join Date: Jan 2007
Location: Port Lincoln, SA
Posts: 5,126
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__________________
cheers Shaun Current SY FPV F6X Territory #214 Previous FG MkII G6E Turbo built by Heinrichs Performance and Tuning BFII FPV TORNADO #0021 351rwkw - Heinrich Performance and Tuning "Milk is for babies. When you grow up you have to drink beer" - Arnold Schwarzenegger |
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#2784 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Posts: 5,046
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CPI 6% for the year to June 23, 3.2% annualised for the June quarter. At this rate, we'll be back to target by March 24 quarter.
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#2785 | |||
FF.Com.Au Hardcore
Join Date: Jul 2005
Location: Melbourne
Posts: 6,891
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Quote:
Apparently, US have got their inflation down to 3%, heard it reported for a fleeting second, so not sure if that was a monthly, quarterly or annual figure.
__________________
~~~~~~~~~~~~~~ Rides (past and present) Current: 2004 Ford Falcon 5.4L 3v Barra 220, Manual Past: Mitsubishi Sigma (m), Toyota Seca (m), Toyota Seca SX (m), Toyota Vienta V6 (m), Toyota Soarer 4L v8 (a), BA XR8 ute (m), T3 TE50 (m), BMW Z4 (m) AFF motto - If contrary views trigger, please use ignore button. ![]() |
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#2786 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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I finally got back from my broker. Apparently the bank are taking 15 business days now to process these requests. I got the bank notification before hearing from the broker they even put it in let along tell me the result
![]() 6.52 to 6.29 so a 0.23% discount even though case is clear for a 5 in front ![]() So I'm 0.5% apart from what I looks like an equivalent package but is that enough to bother. Then again the only way to get a new broker is to refinance. I could very well lose that discount in the next few days as soon as I got it ![]() |
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#2787 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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I heard the other day on the news, good old Meriton were going to go back on fixed price build contracts for most of their clients.
Some bloke was going on about being slugged with a new contract at $250 000 more to build the same thing he had previously signed up for.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#2788 | ||
FF.Com.Au Hardcore
Join Date: Apr 2005
Location: Canberra
Posts: 13,374
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Bloke at work has a fixed price contract and so far they haven't hit him for more money. He is at the internal fitout stage and just delayed for a few things. He started building during Covid so they baked in a lot of it.
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#2789 | ||
Cabover nut
Join Date: Aug 2015
Location: Onsite Eastcoast
Posts: 10,827
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Nah, I've heard most of these, are people waiting to start building not already underway.
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heritagestonemason.com/Fordlouisvillerestoration In order that the labour of centuries past may not be in vain during the centuries to come...... D. Diderot 1752
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#2790 | |||
Kicking back
Join Date: Dec 2013
Location: Western sydney
Posts: 8,528
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Quote:
The only construction mob I can think of who changed names and rebranded but wasn't dodgey is called shape. They rebranded due to the whole unrelated to them but war thing and public perception. Previous the company was called Isis. They didn't rebrand because of a crap reputation. |
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