Westpac Home Lending Department

Brisbane, Australia

#1 May 12, 2009
I want to know if anyone else has had the same issue as we have. If not then i want to warn people against using Westpac for any Home Loans.

We went through brokers to get a home loan with Westpac. As they were the only bank who would advance us the FHOG to build, it was our best and only option. We were approved and went unconditional over a month nearly 2 months ago. we were suppose to have settled on the land on the 27th April. Its not the 13th of May and still nothing. They have dropped the ball everyday and are now saying that we cant do what we had originally agreed to, which was use the FHOG in advance. They now say we have to come up with $22k to settle. We cant pull out of the contract otherwise we will be in breach of the contract and suffer penalties from Stocklands. Meanwhile we are accruing $300 a week in default interest on the settlement of the land. Neato, way to stuff things up Westpac.

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