Can you give me a cheap home loan? Haha had to ask!
Cheers
Matt
Will you answer my pms next year when I'm going for a home loan? Lol!
Do you think the profits which the major banks make each year are ridiculous and excessive? I understand the need to make money as a business but they do make insane amounts of money and aren't very sympathetic if you can't make a payment for some reason.
How do you feel when you foreclose on someone and and put them in the poor house, and out on the street to live?
As ooneil said earlier communication is the key.....this is an extreme action for a bank to take and I don't believe they take it lightly. Most of the time they will work together with the customer to map out a course of action. .
On Sunrise the other morning they were talking about how few people actually haggle with the bank over the terms of their home loans but will haggle over a $50 toaster.
Is this something that we all should be doing, and as manager do you actually have much room to move on home loans?
Do you think the profits which the major banks make each year are ridiculous and excessive? I understand the need to make money as a business but they do make insane amounts of money and aren't very sympathetic if you can't make a payment for some reason.
How do you feel when you foreclose on someone and and put them in the poor house, and out on the street to live?
I disagree with this as my partner is going though a rough patch with work at the moment and has communicated with NAB from day 1, all I can say is that they have been next to no help for her, the only thing they are worried about is getting there profit into the 500 million every 6 months. The banks are greedy and the CEO'S make obscene amounts of $
Most Branch Managers will offload the lending responsibilities to the Personal Lender in branch. Any discount would have to come from the pricing cell and their discount depends on the size of your loan (It is tiered. Over 1 mil is the biggest discount) and your relationship with the bank (How much debt/credit you have with us). Any haggling you can do in Branch will be around fee waivers. Just take out Wealth Package and you are covered though.
1.8 Million people have a home loan with CBA. 11 Million people have their savings with us. Most of Australia's Industry/Retail/Wholesale super funds rely on the CBA to remain strong and profitable by paying great dividends to fund their growth. I don't feel that a well run bank should be apologetic for making money and supporting the country's long term future wellbeing of it's people and it's finances.
As a Branch Manager we have very little to do with this. As a human being I feel terrible. Communication is key.
What help is your partner looking for? With us we have a Hardship's department whose sole job it is to help people out in financial difficulty. The best solution for the bank is not taking the house/car/possessions. This doesn't help maintain the profits. What helps is having long term customers who are happy with their bank and want to do business with you. Is foreclosing on a 25k car loan worth wasting someone who then get's their s*** together and purchases a Home and needs a loan for it?
I empathise that your partner has been doing it rough, but if you are not getting the solution you need, you must escalate. What do you want as your outcome? A delay on the loan, a reduction in repayments? Ask the bank what exactly they can offer in your scenario and try to work around that.
These kind of "Rough Patch" scenarios are why things like income protection/TPD Insurance are an absolute must.
also can you name any other companies in Australia that make as much profit as the BIG 4 and what profit did CBA make last year? was it over a billion $ ?
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