Lenders, Banks and Non Banks, are struggling to keep pace with an unexpected increase in applications from first-home buyers due to the first home buyers grant deadline at the end of June this year. Some banks are taking as long as a month to approve loans. This is resulting in some buyers missing their settlement dates.
The banks new lending policies and the poorly organised applications by new borrowers is hampering the banks efforts to approve and allocate loans ontime.
Banks are now hiring more staff to cope with the demand… a reversal from 6 months ago when banks were letting go staff in their home loan lending divisions.
Loading ...