Friday, May 15, 2009

Penalty Interest Complaint

I just got a phone call from Westpac in regards to my complaint about the penalty interest I was charged by the developer.

She needs to investigate it all properly (as expected) but she can see that the bank did make an error with my name and that if it is what's caused the penalties then she said that from what she can see then there shouldn't be any problems in being reimbursed. I also asked about interest on the amount and she will consider that too.

I also mentioned what my solicitor said about the worst settlement she has ever worked on! I did say that I wasn't really sure where the problem was though, if it was the bank or the mortgage broker, but either way being told it would take only 2 weeks and then taking almost 8 was frustrating and stressful, not to mention costly with the extra rent that will cause me to pay.

She seemed very disappointed about my poor experience with the bank and even mentioned that she may speak to the mortgage brokers as essentially they are their employees in a way.

In the email I sent her, I also included information about my surprise of needing to make up the loan shortfall at land settlement as my mortgage broker had told me a few times that the shortfall would come off the final payment to the builder... I also mentioned the shortfall was due to the LMI amount increasing from when the pre-approval was given to when the unconditional was given.

1 comment:

  1. So glad to hear that they seem to be taking your complaint seriously Lisa.

    Good luck with the site start!