Tag Archive: bank

Stamp Duty, Banks and the Old Responsibility Hot Potato

Posted on October 17, 2008 by | 0 Comments
by Shannyn HunterConveyancer shannyn@lawyersconveyancing.com.au Lawyers Conveyancing  Since the State Revenue Office (SRO) made changes to the stamp duty payable on property purchases earlier this year, many clients have contacted us with questions about how much stamp duty they will pay, where to get the form for a concession and where to send it. Previously, when clients asked for help they were directed to their bank (if they were getting a loan), because their bank calculates the...

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Latest "Clayton’s" Finanace Approval Letter

Posted on June 15, 2008 by | 3 Comments
by Tim O’Dwyer M.A., LL.BSolicitorConsumer Advocate watchdog@argonautlegal.com.au   This latest “Clayton’s” finance approval letter is hot off my fax machine. Last year I reported on an upbeat broker’s keenness to show me that my clients’ finance had been “approved” – by way of a copy of a letter from the lending bank confirming that the loan application had been “Unconditionally Approved.” (see: Clayton’s Finance Approval (The Approval You Have When You Don’t Have Approval)). Responsible...

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Clayton’s Finance Approval (The Approval You Have When You Don’t Have Approval)

Posted on May 3, 2007 by | 0 Comments
by Tim O’Dwyer M.A., LL.B Queensland Solicitor & Consumer Advocate watchdog@argonautlegal.com.au The fax came through late one afternoon from the mortgage broker for a residential property buyer on whose behalf I was acting. “Dear Tim,” it familiarly began, “I am pleased to advise that finance has been approved, to assist with the purchase of the above-mentioned property.” The fax, which was on the broking company’s letterhead, continued that the broker (THE LOAN MARKET MULTIBANK LENDING...

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