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Brody Willis

Real Estate Sales Person Goulburn First National

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Blog · October 30, 2019

HAVE YOU BEEN OUT ON A BUCK’S NIGHT? THE QUESTIONS BANKS ARE ASKING

Mortgage brokers have been asking some highly intrusive questions in the wake of the banking royal commission. With banks tightening their criteria for lending to Australians, brokers have reported asking more personal questions.

Pro Solution Private Clients associate director Jodie McKeown, along with her colleagues, has begun warning clients that some of the questions banks are asking are likely to leave people upset.

One of Pro Solution’s clients was questioned for his spending at a gentleman’s club for a buck’s night while another was asked about a $50 transaction to his mother, in whom he was simply reimbursing for a pair of shoes she had bought him.

domain.com.au reported on Naomi Chatelier in July. Naomi had been questioned about her IVF treatment to great length by ING. Naomi applied for a home loan with her husband, inclusive of proof they would be able to pay back the loan of $650,000. She mentioned IVF as it came up on her credit card statements and wanted to be upfront about it.

More personal and intense questioning followed, and Ms Chatelier was asked if she planned to use her frozen embryos within the next five to ten months. When she said she may, the bank told her she was not in a position to be offered a mortgage and assessed the application purely based on her husband’s income.

Although Naomi had 400 hours of long service leave and paid parental leave entitlements, this was disregarded. The questioning of her maternity leave when applying for her loan, despite not being pregnant, left Naomi upset and resulted in her making a complaint to ING.

With each of the big four banks assessing applicants on a case-by-case basis, applicants should be (sadly) prepared to be asked questions that are more intrusive, personal and partially upsetting.

Discretionary spending habits of mortgage applicants are also being cracked down on. Say no more to UberEats, Netflix, Spotify, gambling apps, etc.

By Andrew Trim
Author of Real Estate Dangers

Are you interested in reading Real Estate Dangers by Andrew Trim? Contact us to receive your free copy. Email: mail@goulburnre.com.au or call 02 4822 8711

DangersStackedSmall.jpg

Article extrapolated from:

Heagney, M. (2019). ‘Been on a buck’s night? ‘If you want a mortgage, your bank might ask about it’, Domain, 14 August. Available at: https://www.domain.com.au/money-markets/mortgage-applicants-warned-be-prepared-for-some-very-personal-questions-868947/

Heagney, M. (2019). ‘First-home buyer questioned about maternity leave when applying for a loan, despite not being pregnant’, Domain, 31 July. Available at: https://www.domain.com.au/money-markets/first-home-buyer-questioned-about-maternity-leave-when-applying-for-loan-despite-not-being-pregnant-864943/

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Blog · November 7, 2019

MYSTERY SHOP THE AGENT

MYSTERY SHOP THE AGENT

The selection of the selling agent is usually decided upon from an interview and/or a sales proposal process. Whether it’s an interview or a sales proposal that you are using to determine your agent, neither actually shows the agent in action. Agents are fully rehearsed with scripts and …

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Blog · November 4, 2019

RELAY FOR LIFE 2019

RELAY FOR LIFE

On the weekend of the 2nd & 3rd November we saw yet another successful turnout for Cancer Council’s Relay For Life. This has been our 4th year supporting Relay For Life & we are so proud to be a part of it. This year the committee announced that 33 teams & 307 people registered. …

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Blog · October 30, 2019

HAVE YOU BEEN OUT ON A BUCK’S NIGHT? THE QUESTIONS BANKS ARE ASKING

BUCK’S NIGHT

Mortgage brokers have been asking some highly intrusive questions in the wake of the banking royal commission. With banks tightening their criteria for lending to Australians, brokers have reported asking more personal questions. Pro Solution Private Clients associate director Jodie McKeown, …

Continue Reading

Blog · October 23, 2019

THE ‘HEART BUYER’

THE HEART BUYER

The location is ideal, it has the right number of bedrooms and living spaces, the yard is great – it feels like the perfect home. Occasionally, a buyer matches a property to perfection. This buyer is going to live in the property. It will become their home. There is an instant and strong …

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Blog · October 17, 2019

SHOULD I BUY NOW OR WAIT UNTIL THE FIRST HOME LOAN DEPOSIT SCHEME STARTS?

SHOULD I BUY NOW

As you slog away, saving the deposit for your first home, it’s difficult not to get excited when new government incentives are announced. From the First Home Owner’s Grant, introduced in 2000, to the First Home Super Saver Scheme of the 2018 Federal budget, Australian first home buyers can hardly …

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Blog · October 10, 2019

AGENT’S TRICKS TO CREATE VENDOR MOTIVATION

AGENT'S TRICKS TO CREATE VENDOR MOTIVATION

If you want above market price for your property, agents have a number of tricks to bring you back into line. Some of these tactics are subtle, others are more transparent. Either way, when you know what they are, you stand some chance of protecting yourself. Pre-auction low offer – If you …

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Blog · October 3, 2019

LOOK BEYOND FEES FOR EFFECTIVE MANAGEMENT

LOOK BEYOND FEES FOR EFFECTIVE MANAGEMENT

Majority of property investors spend too little time assessing the skills of their property manager and need to look beyond fees when choosing who will manage their investment portfolio. The commitment required to effectively maintain properties, quality client relations, legislative compliance, …

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Blog · September 26, 2019

FLAWED REAL ESTATE STRATEGIES 4/4: PUBLIC AUCTION – BUYERS

Auction

Inspired by Andrew TrimAuthor of Real Estate Dangers While the public auction method certainly costs the seller both financially and emotionally, the buyer is also deceived. Transparency only applies on auction day. During the lead up to a public auction, the lack of transparency of the process …

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Blog · September 19, 2019

FLAWED REAL ESTATE STRATEGIES 3/4: PUBLIC AUCTION

PUBLIC AUCTION

By Andrew TrimAuthor of Real Estate Dangers For most agents, public auctions are all about advertising revenue and personal profile. Public auctions are promoted widely throughout the real estate industry and major media organisations. You can’t have a public auction without the significant spend …

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CONTACT

0428 425 459

brody@goulburnre.com.au

OFFICE

02 4822 8711

www.goulburnrealestate.com.au

LOCATION

148 Auburn Street

Goulburn, NSW

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