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David
Victoria
22 Posts |
 Posted - 06 Oct 2006 : 11:28:30 PM
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Well today I had a letter of demand from the ANZ Banking Group Ltd to close down this site as it is missleading. I have told them that the site is not forsale to anyone, and there is no way I am going to sell it to the ANZ Banking Group Ltd.
I let you know what their response is from the Deputy of Counsel at ANZ Banking Group Ltd.
Just plain simple bullying and intimidation tactics from the big bank.
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Regards,
David |
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artofohm
Victoria
6 Posts |
Posted - 22 Mar 2007 : 4:23:44 PM
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I love this site, gives us customers some where to air our issues to the public who need to be more aware, congratulations, do not give into their demands, its sites like this that cost them lots of money and they need to regulate themselves better to stop sites like this from existing in the first place not just trying to buy people off.
Here is my story...
My wife and I bought an apartment in Melbourne 4 years ago off the plan, when the development was complete we asked our Australian bankers ANZ in Singapore if they would quote us on the mortgage.
I was verbally told by Jodene Edwards at ANZ Singapore that as a foreigner I might have to pay 30% deposit but given my credentials she thought I would have a high chance of getting 80% mortgage.
After a delay they came back with 70% mortgage based on a property valuation done over one year before (that had coincidentally legally expired 3 months after the valuation had been done). The property valuation was 50k lower than my purchase price despite no drop in the market of 20% from fair value. We purchased for 605k and they used a valuation of $550k which meant I had to put in 100k in deposit with the higher deposit amount of 30%.
ANZ had delayed this so long that I had missed my early competition date and subsequently lost the AU$10k early completion bonus and then had to find myself a new mortgage provider, this delay cost me an additional USD16k in late interest payments. Guess who had to take the $26 loss?
The funny things is despite reporting this to the financial regulators in Australia, the Australian Property Institute, the Premier for Melbourne Hon. Steve Bracks not one will take on this case against ANZ the jewel in Australia’s banking institutions crown.
I cannot even get a lawyer in Australia to take on the case because they are all on retainers from ANZ and cannot afford to upset their pay masters or they too small to be able to take on ANZ’s lawyers.
In addition to this problem some other valuation on the property will make you wonder about how much of a scam there is against foreigners buying property in Australia…
AU$450, 500k, 550k and we finally settled on $619k, this is clearly rigged in favour of the banks as the banks are the ones controlling the valuers.
I have just purchased the site www.australianpropertyscam.com and will post this entire saga as an information guide to potential consumers of property in Australia and or customers of ANZ Bank.
I hope to have this site up in two weeks time and will keep you informed...
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artofohm
Victoria
6 Posts |
Posted - 24 Mar 2008 : 11:53:14 AM
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I am still in discussions with our local arbitrators FIDREC in Singapore as despite the fact the mortgage was raised in Australia by ANZ and the property being based in Melbourne all the nice Australian groups have said this falls outside their jurisdiction.
My other big problem with trying to take an Australian bank like ANZ to court is that they keep most of the big law firms on retainers which of course gives the small people less chance of employing their services to engage such banking groups in the court of law where such matters belong.
Once we have the matter setttled I will post an update on this site.
Do check out the following site about another global bank that I thought was rather good myself. http://www.hsbc-sux.com |
Spencer Campbell
http://www.australianpropertyscam.com |
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| Australia & New Zealand Banking Issues Forums |
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Demand Letter from ANZ Banking Group Ltd
