Grant of Wills, Probate, CODICILS and Power of attorney as per South Australia Supreme Court Rules

I can draft Grant of Wills and Probate in accordance with rules of Supreme Court of South Australia on the day of request. Feel free to call 0431 138 537 for details. If you have any questions about your real estate in any of following 349 suburbs, any concerns or issues with conveyance and legal matters feel free to consult on +61 431138537 - Housing disputes Guardianship Administration Consent to Medical Treatment Advance Care Directives (ACD) Mental health - Option Adams Addison Adelaide Adelaide And Parklands Alexandrina Allen Allenby Alma Andrews Angas Anna Anne Apoinga Appila Archibald Arkaba Ash Auld Ayers Bagot Bagster Bakara Baker Balaklava Baldina Bandon Barna Barndioota Baroota Barossa Bartlett Barunga Barwell Batchelor Beatty Beeamma Belalie Belvidere Benara Bendleby Berri I A Bews Bice Billiatt Binnum Black Rock Plain Blacker Blanche Blesing Blyth Bockelberg Bonney Bonython Book A Book B Book C Book D Book E Bookpurnong Boolcunda Booleroo Boonerdo Boothby Booyoolie Borda Boucaut Bowaka Bower Bowhill Bray Bremer Bright Brinkley Brooker Brownlow Buckleboo Bundaleer Bundey Bunyeroo Burdett Burgoyne Butler Cadell Caldwell Caltowie Cameron Campbell Campoona Cannawigara Caralue Carawa Carcuma Carina Caroline Carr Carribie Cassini Castine Catt Cavenagh Chaffey I A Chandada Charleston Chesson Chillundie Clare Clinton Cobdogla I A Cocata Cockburn Coglin Cohen Colebatch Coles Colton Comaum Condada Coneybeer Conmurra Coolinong Coombe Coomooroo Coonarie Coonatto Cootra Copley Corrobinnie Cortlinye Cotabena Cotton Cowan Crozier Crystal Brook Cudlamudla Cultana Cummins Cungena Cunningham Cunyarie Curramulka Dalkey Dalrymple Darke Darling Davenport Day Dixson Downer Dublin Dudley Duffield Duncan Dutton Eba Edeowie Encounter Bay Encounter Bay, Goolwa & Waitpinga Boundaries English Erskine Ettrick Eurelia Eurilpa Everard Field Finlayson Finniss Fisher Fisk Flinders Forrest Forster Fox Freeling French Gambier Geegeela Gilbert Giles Gillen Glen Roy Glyde Glynn Gold Claims Goode Goolwa Gordon Gosse Govt Towns Goyder Grace Gregory Grey Gumbowie Guthrie Hague Haig Haines Hall Hallett Hambidge Handyside Hanson Hardy Hart Haslam Hawker Hay Hd Boundaries Heggaton Hill Hincks Hindmarsh Holder Hooper Horn Howe Hudd Hutchison Hynam Inkerman Inkster Islands James Jamieson Jeffries Jellicoe Jenkins Jessie Joanna Joyce Julia Creek Jutland Kadina Kaldoonera Kanmantoo Kanyaka Kappakoola Kappawanta Kapunda Karcultaby Karlowan Div Katarapko Keith Kekwick Kelly Kennion Ketchowla Kevin Kiana Kilkerran Killanoola King Kingsford Kingston Kirkpatrick Kondoparinga Kongorong Koolgera Koolunga Koolywurtie Koongawa Kooringa Koppio Kuitpo Kulpara Lacepede Laffer Lake George Lake Wangary Landseer Lewis Light Lincoln Lindley Livingston Lochaber Louth Loveday Lucy Macclesfield Macdonnell Macgillivray Magarey Maitland Makin Malcolm Mamblin Mangalo Mann Mannanarie Mantung Marcollat Markaranka Marmon Jabuk Maude May Mayurra Mccallum Mcculloch Mcdonald Mcgorrery Mcgregor Mcintosh Mclachlan Mcnamara Mcpherson Melville Menzies Messent Miller Milne Miltalie Minbrie Minburra Mindarie Minecrow Mineral Claims Mingbool Minlacowie Minnipa Miscellaneous Book Mitchell Mobilong Molineux Monarto Monbulla Mongolata Moockra Moody Moonabie Moorkitabie Moorook Moorooroo Moorowie Moralana Morgan Mortlock Moseley Moule Mount Benson Mount Muirhead Mudla Wirra Muloowurtie Mundoora Munno Para Murbko Murlong Murrabinna Murray Murtho Myponga Nackara Nangkita Nangwarry Napperby Naracoorte Narridy Nash Neales Neville Newland Nicholls Nildottie Nilginee Nilpena Ninnes Noarlunga Nunnyah Nuriootpa O'Connor O'Loughlin Occupation Surveys Oladdie Onkaparinga Oratunga Out Of Hundreds G&C Out Of Hundreds Nth Out Of Hundreds Sth Paisley Palabie Palkagee Palmer Panitya Para Wirra Para Wurlie Parachilna Paratoo Parcoola Parilla Paringa Parnaroo Parsons Pascoe Peachna Peacock Peake Pearce Peebinga Peella Pekina Pendleton Penola Perlubie Petherick Pethick Petina Pichi Richi Pildappa Pinbong Pinda Pinkawillinie Pinnaroo Pirie Playford Pooginook Pordia Port Adelaide Port Gawler Poynton Price Pureba Pyap Pygery Quirke Ramsay Randell Redhill Rees Renmark I D Reynolds Richards Riddoch Ridley Ripon Ritchie Rivoli Bay Roads Book Roberts Robertson Roby Ross Rounsevell Rudall Russell Saddleworth Santo Scott Seddon Senior Seymour Shannon Shaugh Sherlock Short Skurray Sleaford Smeaton Smith Solomon Spence Squire Stanley Stirling Stokes Stow Strathalbyn Strawbridge Stuart Sturdee Symon Talia Talunga Tarcowie Tarlton Tatiara Telowie Terowie Tickera Tinline Tiparra Tomkinson Tooligie Townsend Travers Trunch Tungkillo Uley Ulipa Ulyerra University Lands Upper Wakefield Uroonda Verran Vincent Waikerie Waitpinga Wallala Wallanippie Wallaroo Wallis Walloway Walpuppie Wandana Wandearah Wanilla Wannamana Warcowie Ward Waroonee Warrakimbo Warramboo Warren Warrenben Warrow Waterhouse Waterloo Wauraltee Way Wells Whyte Wilcherry Willalooka Willochra Willowie Willunga Wilson Wilton Wiltunga Winninowie Wirreanda Wirrega Witera Wokurna Wongyarra Wonna Wonoka Wookata Woolumbool Woolundunga Woolyana Wrenfordsley Wright Wudinna Wyacca Yackamoorundie Yadnarie Yalanda Yalpara Yangya Yaninee Yankalilla Yantanabie Yanyarrie Yaranyacka Yarrah Yatala Yednalue Yongala Young Younghusband

Grant of Wills, Probate, CODICILS and Power of attorney as per South Australia Supreme Court Rules

I can draft Grant of Wills and Probate in accordance with rules of Supreme Court of South Australia on the day of request. Feel free to call 0431 138 537 for details. If you have any questions about your real estate in any of following 349 suburbs, any concerns or issues with conveyance and legal matters feel free to consult on +61 431138537 Option Adams Addison Adelaide Adelaide And Parklands Alexandrina Allen Allenby Alma Andrews Angas Anna Anne Apoinga Appila Archibald Arkaba Ash Auld Ayers Bagot Bagster Bakara Baker Balaklava Baldina Bandon Barna Barndioota Baroota Barossa Bartlett Barunga Barwell Batchelor Beatty Beeamma Belalie Belvidere Benara Bendleby Berri I A Bews Bice Billiatt Binnum Black Rock Plain Blacker Blanche Blesing Blyth Bockelberg Bonney Bonython Book A Book B Book C Book D Book E Bookpurnong Boolcunda Booleroo Boonerdo Boothby Booyoolie Borda Boucaut Bowaka Bower Bowhill Bray Bremer Bright Brinkley Brooker Brownlow Buckleboo Bundaleer Bundey Bunyeroo Burdett Burgoyne Butler Cadell Caldwell Caltowie Cameron Campbell Campoona Cannawigara Caralue Carawa Carcuma Carina Caroline Carr Carribie Cassini Castine Catt Cavenagh Chaffey I A Chandada Charleston Chesson Chillundie Clare Clinton Cobdogla I A Cocata Cockburn Coglin Cohen Colebatch Coles Colton Comaum Condada Coneybeer Conmurra Coolinong Coombe Coomooroo Coonarie Coonatto Cootra Copley Corrobinnie Cortlinye Cotabena Cotton Cowan Crozier Crystal Brook Cudlamudla Cultana Cummins Cungena Cunningham Cunyarie Curramulka Dalkey Dalrymple Darke Darling Davenport Day Dixson Downer Dublin Dudley Duffield Duncan Dutton Eba Edeowie Encounter Bay Encounter Bay, Goolwa & Waitpinga Boundaries English Erskine Ettrick Eurelia Eurilpa Everard Field Finlayson Finniss Fisher Fisk Flinders Forrest Forster Fox Freeling French Gambier Geegeela Gilbert Giles Gillen Glen Roy Glyde Glynn Gold Claims Goode Goolwa Gordon Gosse Govt Towns Goyder Grace Gregory Grey Gumbowie Guthrie Hague Haig Haines Hall Hallett Hambidge Handyside Hanson Hardy Hart Haslam Hawker Hay Hd Boundaries Heggaton Hill Hincks Hindmarsh Holder Hooper Horn Howe Hudd Hutchison Hynam Inkerman Inkster Islands James Jamieson Jeffries Jellicoe Jenkins Jessie Joanna Joyce Julia Creek Jutland Kadina Kaldoonera Kanmantoo Kanyaka Kappakoola Kappawanta Kapunda Karcultaby Karlowan Div Katarapko Keith Kekwick Kelly Kennion Ketchowla Kevin Kiana Kilkerran Killanoola King Kingsford Kingston Kirkpatrick Kondoparinga Kongorong Koolgera Koolunga Koolywurtie Koongawa Kooringa Koppio Kuitpo Kulpara Lacepede Laffer Lake George Lake Wangary Landseer Lewis Light Lincoln Lindley Livingston Lochaber Louth Loveday Lucy Macclesfield Macdonnell Macgillivray Magarey Maitland Makin Malcolm Mamblin Mangalo Mann Mannanarie Mantung Marcollat Markaranka Marmon Jabuk Maude May Mayurra Mccallum Mcculloch Mcdonald Mcgorrery Mcgregor Mcintosh Mclachlan Mcnamara Mcpherson Melville Menzies Messent Miller Milne Miltalie Minbrie Minburra Mindarie Minecrow Mineral Claims Mingbool Minlacowie Minnipa Miscellaneous Book Mitchell Mobilong Molineux Monarto Monbulla Mongolata Moockra Moody Moonabie Moorkitabie Moorook Moorooroo Moorowie Moralana Morgan Mortlock Moseley Moule Mount Benson Mount Muirhead Mudla Wirra Muloowurtie Mundoora Munno Para Murbko Murlong Murrabinna Murray Murtho Myponga Nackara Nangkita Nangwarry Napperby Naracoorte Narridy Nash Neales Neville Newland Nicholls Nildottie Nilginee Nilpena Ninnes Noarlunga Nunnyah Nuriootpa O'Connor O'Loughlin Occupation Surveys Oladdie Onkaparinga Oratunga Out Of Hundreds G&C Out Of Hundreds Nth Out Of Hundreds Sth Paisley Palabie Palkagee Palmer Panitya Para Wirra Para Wurlie Parachilna Paratoo Parcoola Parilla Paringa Parnaroo Parsons Pascoe Peachna Peacock Peake Pearce Peebinga Peella Pekina Pendleton Penola Perlubie Petherick Pethick Petina Pichi Richi Pildappa Pinbong Pinda Pinkawillinie Pinnaroo Pirie Playford Pooginook Pordia Port Adelaide Port Gawler Poynton Price Pureba Pyap Pygery Quirke Ramsay Randell Redhill Rees Renmark I D Reynolds Richards Riddoch Ridley Ripon Ritchie Rivoli Bay Roads Book Roberts Robertson Roby Ross Rounsevell Rudall Russell Saddleworth Santo Scott Seddon Senior Seymour Shannon Shaugh Sherlock Short Skurray Sleaford Smeaton Smith Solomon Spence Squire Stanley Stirling Stokes Stow Strathalbyn Strawbridge Stuart Sturdee Symon Talia Talunga Tarcowie Tarlton Tatiara Telowie Terowie Tickera Tinline Tiparra Tomkinson Tooligie Townsend Travers Trunch Tungkillo Uley Ulipa Ulyerra University Lands Upper Wakefield Uroonda Verran Vincent Waikerie Waitpinga Wallala Wallanippie Wallaroo Wallis Walloway Walpuppie Wandana Wandearah Wanilla Wannamana Warcowie Ward Waroonee Warrakimbo Warramboo Warren Warrenben Warrow Waterhouse Waterloo Wauraltee Way Wells Whyte Wilcherry Willalooka Willochra Willowie Willunga Wilson Wilton Wiltunga Winninowie Wirreanda Wirrega Witera Wokurna Wongyarra Wonna Wonoka Wookata Woolumbool Woolundunga Woolyana Wrenfordsley Wright Wudinna Wyacca Yackamoorundie Yadnarie Yalanda Yalpara Yangya Yaninee Yankalilla Yantanabie Yanyarrie Yaranyacka Yarrah Yatala Yednalue Yongala Young Younghusband

UPDATE 1-ANZ Bank CEO says banking industry has lost touch with customers

NSW LPI auction kicks off with expressions of interest NSW Treasurer Gladys Berejiklian says the private sector is best placed to invest in new technology for the state's land ... NSW Treasurer Gladys Berejiklian says the private sector is best placed to invest in new technology for the state's land titles register. Sydney Morning Herald by Sarah Thompson Anthony Macdonald Joyce Moullakis New South Wales Treasury is seeking expressions of interest for its land titles and registry services business by October 31. Treasury notified parties of the timetable on Tuesday morning, asking interested bidders to formally express their interest with sale adviser JPMorgan before the end of the month. NSW is seeking a private operator for the Land and Property Information unit, who would run the business for the next 35-years. LPI runs land titling and registration activities in the state. NSW's Land and Property Information. NSW's Land and Property Information. The concession is expected to attract offshore titling and registry companies such as Borealis Infrastructure's Teranet, local players including PEXA and Link Group and infrastructure managers such as Hastings Funds Management and Macquarie's MIRA. LPI had 885 employees at the end of the 2016 financial year and registered 935,000 documents in the 12-month period. Bidders are awaiting further detail on how much operating and management control will be available to them under the sale structure. It comes at busy time for Treasury's transactions team, who are also assessing the unsolicited bid for electricity networks company Ausgrid and running a sale for the Pillar superannuation administration business. Read more: http://www.afr.com/street-talk/nsw-lpi-auction-finally-kicks-off-with-expressions-of-interest-20161010-grzd4z?&utm_source=social&utm_medium=twitter&utm_campaign=nc&eid=socialn:twi-14omn0055-optim-nnn:nonpaid-27062014-social_traffic-all-organicpost-nnn-afr-o&campaign_code=nocode&promote_channel=social_twitter#ixzz4MjZZlbzy Follow us: @FinancialReview on Twitter | financialreview on Facebook ================================ Tue Oct 4, 2016 | 10:46 PM EDT UPDATE 1-ANZ Bank CEO says banking industry has lost touch with customers UPDATE 1-ANZ Bank CEO says banking industry has * ANZ boss says industry suffers from bad behaviour, poor culture * Bank bosses may be called to testify more than once a year -PM * Government could move to make bank accounts more transferable (Recasts; adds further CEO comments, details of committee proposals) By Jamie Freed SYDNEY, Oct 5 The head of Australia's ANZ Bank said he believed banking bosses had been hauled before a parliamentary committee because the industry had lost touch with its customers, as he backed the introduction of consumer-friendly initiatives proposed by lawmakers designed to increase competition. Shayne Elliott was the second CEO of the nation's "Big Four" banks to face three hours of grilling this week by the committee, which was formed after a series of industry scandals involving misleading financial advice, insurance fraud and interest-rate rigging. "I think that as an industry we have lost touch with our customers and we have become too internally focused and forgotten our role in society and the community at large," Elliott told the committee on Wednesday, adding that had led to bad behaviour and poor culture. The committee proposed to call the bank bosses at least annually, and Prime Minister Malcolm Turnbull on Wednesday indicated more appearances could be required. "I would expect the committee will ask the banks to come back more than once a year," Turnbull told reporters in Sydney. During his testimony Elliott, like Commonwealth Bank of Australia Chief Executive Ian Narev on Tuesday, said he was open to a proposal to set up a banking tribunal to arbitrate between aggrieved customers and the banks. Elliott also backed a potential move by lawmakers that would force banks to transfer customer data to other institutions to make it easier to switch banks, which can be a long and cumbersome process at present. "Absolutely we should enable that," he said. Elliott said he would not take issue with a proposal by committee chairman David Coleman to make it easier to set up new banks in Australia, where the Big Four control 80 percent of the lending market. The proposal could involve lowering capital requirements and a 15 percent shareholder cap, Coleman said. (Reporting by Jamie Freed) ================== Interest rates remain unchanged for October October 4, 2016 At the RBA meeting today, the Board decided to leave the cash rate unchanged at 1.50%. The global economy is continuing to grow, at a lower than average pace. Labour market conditions in the advanced economies have improved over the past year, but growth in global industrial production and trade remains subdued. Actions by Chinese policymakers have been supporting growth, but the underlying pace of growth in China has been moderating. Inflation remains below most central banks’ targets. Commodity prices have risen over recent months, following the very substantial declines over the past few years. The higher commodity prices have supported a rise in Australia’s terms of trade, although they remain much lower than they have been in recent years. Financial markets have continued to function effectively. Funding costs for high-quality borrowers remain low and, globally, monetary policy remains remarkably accommodative. Government bond yields are near their historical lows. In Australia, the economy is continuing to grow at a moderate rate. The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports. Household consumption has been growing at a reasonable pace, but appears to have slowed a little recently. Measures of household and business sentiment remain above average. Labour market indicators have been somewhat mixed. The unemployment rate has fallen further, although there is considerable variation in employment growth across the country. Part-time employment has been growing strongly, while growth in full-time employment has been subdued. The forward-looking indicators point to continued expansion in employment in the near term. Inflation remains quite low. Given very subdued growth in labour costs and very low cost pressures elsewhere in the world, this is expected to remain the case for some time. Low interest rates have been supporting domestic demand and the lower exchange rate since 2013 has been helping the traded sector. Financial institutions are in a position to lend for worthwhile purposes. These factors are all assisting the economy to make the necessary economic adjustments, though an appreciating exchange rate could complicate this. Supervisory measures have strengthened lending standards in the housing market. Separately, a number of lenders are also taking a more cautious attitude to lending in certain segments. Growth in lending for housing has slowed over the past year. Turnover in the housing market has declined. The rate of increase in housing prices is lower than it was a year ago, although some markets have strengthened recently. Considerable supply of apartments is scheduled to come on stream over the next couple of years, particularly in the eastern capital cities. Growth in rents is the slowest for some decades. Taking account of the available information, and having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

The day of settlement

What happens on settlement day? Melbourne home owner Alice Hodges recently settled two properties within an hour of each other. “I’d never done that before and was worried that the funds needed to ‘clear’ from one settlement to the other,” Hodges says. Hodges’ conveyancer, Jo Richmond from Law554, says all the documentation is organised well before the settlement date. “We like to do this so we can check the paperwork and make sure it’s executed by all parties,” Richmond says. “Where there’s a bank involved we start talking to the bank to figure out if there’s any shortfall that the client needs to provide at settlement. “We let the client know that they’ll need ‘x’ amount of money and they need to nominate a bank account from which to withdraw the shortfall. On our advice the bank will withdraw those funds.” These were the funds that Hodges was worried about. Despite assurances from Richmond and her bank that everything was in order, she was still slightly stressed prior to settlement day. “I’m now slightly embarrassed at how much I was stressing beforehand. I bet conveyancers and mortgage brokers see this all the time,” she says. I’m slightly embarrassed at how much I was stressing beforehand. Woman signing paperwork How do you prepare for settlement? According to Richmond, the hardest part of settlement day for her clients is packing up and cleaning the home and disconnecting and connecting the utilities. “We take care of the paperwork so they can get on with the cleaning.” “Probably two weeks out from settlement we’re trying to finalise our figures in relation to council and water rates. “We write to the council and water authorities advising them of a change of ownership, but they will have to ring up and get their gas and power connected,” Richmond says. You’ll also have the opportunity to do one final inspection of the property before settlement day. If you can’t do it yourself, or don’t feel confident that you’ll know what to look for, you can hire a professional to conduct the inspection for you. The point of the final inspection is to ensure the house is in the same condition as it was when sold. The final inspection is a chance to check everything is in working order. You don’t actually need to be present on settlement day if you don’t want to as your representatives can take care of all documentation and financials. However, you will be needed to oversee the removals process. “We let clients know 7-14 days beforehand when the settlement times are scheduled so their can organise their moving company,” Richmond says. “I let our removalists know that they’d have a couple of hours rest in between loading our truck from our old place, and delivering it to our new place (pending settlement),” Hodges says. “They were fine with that and had done it before.” Hodges says her best preparation was making sure her conveyancer and mortgage broker had absolutely everything they needed. “You really need to do everything they say, and give them everything they need. Then it’s out of your control.” Hodges was notified no more than ten minutes after both scheduled appointments and told everything had gone through. “What a relief. The best bit was being told, ‘congratulations – go and get your keys!’” More advice: 6 property settlement tips for home buyers What can go wrong? Richmond says hiccups rarely occur but when they do it is usually be resolved on the same day. “There have been instances of clerks turning up at settlement missing a document. If those things happen everyone scrambles together to try and solve the problem as soon as possible. “Sometimes settlement is pushed back to allow the offending parties to rectify the problem. We always work to settle it on the same day that it has been scheduled because we know that most of the time people need to move into the property.” What happens after settlement? After settlement your lender will draw down your loan – debiting the amount they’ve paid at settlement from your loan account. Richmond says she sends a final reporting letter to her clients after settlement, informing them that settlement was completed and the money was received on their behalf. “We will also write to the authorities advising them of the change in ownership. Where there is a bank involved, the bank will report a breakdown of the loan distributions. “There’s not much to do for them except enjoy the home.” Hodges says aside from a couple of minor things like nominating a bank account for the sale proceeds, there was nothing left to do except celebrate. “Once you’ve got the keys, you’re in, can unpack and enjoy your new home.” Follow us on Twitter for more news, tips and inspiration. Become our mate on Facebook and explore our Pinterest boards. Like this article or found it helpful? Share it! Tags: buyingfirst homemortgage Alice Bradley About Alice Bradley As part of the Content & Social team at realestate.com.au, Alice works behind the scenes to keep our blog machine in motion. She’s a long-time inhabitant of Melbourne’s inner north, but is constantly pushing herself to explore different parts of the city (especially if there’s French toast involved). ProfileWebsite

ANZ under fire over mortgage settlements

This story was published: 5 years ago March 10, 2010 8:57AM ANZ is under fire over the way some of its mortgage settlements are being processed / File Source: Bloomberg VICTORIAN property lawyers are demanding an urgent overhaul of ANZ's mortgage procedures following the bank's recent move to outsource home loan settlement functions to Perpetual. In a damning letter sent to the bank last month, the Law Institute of Victoria's acting president Caroline Counsel highlights deficiencies in ANZ mortgage processes which she claims have "substantially undermined" the certainty of property sales. The bank has since apologised to the LIV. In the February 4 letter leaked to Herald Sun, Ms Counsel states that ANZ and Perpetual have committed only limited resources to booking property settlements which has led to confusion and frustration for conveyancing lawyers and their clients. "Law Institute of Victoria members have reported that there have been instances when the Perpetual representative has not attended settlement at the allocated time," Ms Counsel told ANZ in the letter. "Settlement in such cases has, of course, not occurred at the allocated time, and this has necessitated the inconvenience of re-booking settlement." ANZ outsourced settlement responsibilities to Perpetual Mortgage Services last year as part of a wider effort to bring its mortgage administration and settlement systems in line with industry standards. However, the move has been disastrous with communication problems between the bank and Perpetual leading to delays for home buyers and sellers completing transactions. The institute's list of complaints include: SALE failures caused by Perpetual not meeting settlement deadlines. "UNDULY long" waiting times for lawyers seeking information over the phone from the bank and Perpetual. FAILURE by Perpetual to provide details of payments due by property buyers within 48 hours of agreed settlement dates. Ms Counsel told the bank that Perpetual's inability to provide payout numbers before settlement days meant that settlements had to be postponed in many cases because there was not enough time for cheques to be drawn by purchasers. "When settlements fail as a result of ANZ's processes, there are additional financial and emotional burdens imposed on parties," Ms Counsel told the bank in the letter. "The LIV urges ANZ to address settlement process issues, as they substantially undermine the certainty of transactions for parties." In a replying letter sent on February 24, ANZ's head of mortgages, Michael Bock, acknowledged that the deficient settlement procedures had caused inconvenience for solicitors and parties involved in property transactions. "It is clear from feedback from the profession that the changes we introduced to our settlements process have caused frustration and, in certain circumstances, significant inconvenience for some solicitors, conveyancers and clients -- and we sincerely apologise," Mr Bock told the LIV. "We are working hard to fix these problems . . . We understand your concerns, and ANZ is committed to making the necessary changes to ensure we meet your needs and clients' expectations for timely and efficient settlement of all purchases and discharges." Mr Bock stated that ANZ had established a special team of senior executives to drive improvements to the group's mortgage processes. The urgent change program will try to simplify settlement procedures by increasing phone contact staff and investment in new technology. LIV chief executive Michael Brett-Young said conveyancing solicitors also experienced settlement issues with other banks but the problems were more profound at ANZ. "We've had more complaints from our conveyancing solicitors about ANZ and we are confident that the other banks are meeting requirements to achieve timely and smooth settlements for clients," he said yesterday. A Perpetual spokesman declined to comment on the LIV's concerns about its performance under the outsourcing deal with ANZ. ------------------------------------ Reason Posted at 4:02 PM March 12, 2010 Perpetual has set out to ruthlessly undercut all other mortgage services/settlement providers. Banks see the low service charges in a tender and think that's all that matters. Banks need to realise that there is more to outsourcing these services than price. Reading these comments, it's not Perpetual's brand that is damaged, it is the bank's (ANZ in this case). Perpetual has the market presence and the financial backing but it does not have the service and it simply does not care. Comment 1 of 29 meg Posted at 10:07 PM March 11, 2010 I am a settlement runner in Qld i.e. I perform the actual settlement for a small independent business. Perpetual have, and always have been the most ‘can do’ outsourcing agency I have dealt with. They bend over backwards to make sure that settlement occurs + they are the only place that gives us settlement runners a water bubbler and access to a bathroom. I agree that there have been annoying issues with ANZ outsourcing but from my work aspect Perpetual have responded pretty well, or at least they did in QLD. Comment 2 of 29 Pat of australia Posted at 5:13 PM March 11, 2010 Sold an investment property recently - what a disaster - one problem after another - settlement date moved, ANZ could not give a pay-out figure after several attempts. Final figure was way out and I had to wait to get the money and pay out the loan manually at my local bank. My daughter purchased her first house recently and what a mess that was also and very distressing. Comment 3 of 29 Which bank? Switch bank... of Oztralia Posted at 7:09 AM March 11, 2010 If settlement is delayed through no fault of the vendor or purchaser, why are they penalised when the bank fails to process the papers on time? Suggestion to banks: Offer a real service with a guarantee - we pay if we stuff up. Comment 4 of 29 ANZ Stupid World of Melbourne Posted at 1:13 AM March 11, 2010 im a mortgage broker. Since anz had higher rate, my client refinance. NAB refinanced it and passed the cheque to ANZ and took the title. ANZ Perpetual didn't bank in the cheque and lost the chq and ANZ keep charging my customer. ANZ is an idiot. My customer told them to check and they say they still got the title when customer do title search it reveals NAB have title. ANZ is idiot. My client had to pay interest for 2 mth and only got interest charges stop after it threaten ANZ with legal action and until now ANZ still hasn't sorten out the interest back charges yet. ANZ with Perpetual. Both of them are perpetually stupid and I really dont know which World ANZ is living on. so much for their Campaign "We Live in Your World". NO ANZ We dont live in your World. Your World is a Stupid world and mine isn't. Comment 5 of 29 Burnt out of Sydney Posted at 12:19 AM March 11, 2010 A true example to show how greedy can a bank get too, what is in store with the other major 3 banks. It is high time Government start to look at the way the things are conducted and start to set tougher compliance requirements and make the banks pay for the banks mistake. Comment 6 of 29 Madasacow of melbourne Posted at 8:04 PM March 10, 2010 I would never mortgage with the ANZ ever again, they lost our Mortgage paperwork 3 times (YES 3 TIMES) and one of them was signed in the bank in front of the bank manager.... Comment 7 of 29 balwinder of UK Posted at 7:34 PM March 10, 2010 anz is hopeless, i sold my property 3 monhs ago, the settlement is sill not done.... Comment 8 of 29 KW Posted at 7:24 PM March 10, 2010 Andy (comment 4 ) - 2 weeks to get a loan approved???? I wish they had taken that long when I applied for a loan. ANZ took TWELVE WEEKS to the day, to process a simple home loan application for me late last year. Fortunately, CBA approved the same application for the same property in less than 48hrs. No prizes for guessing who we do our banking with now. Comment 9 of 29 Andre of Dianella Posted at 6:13 PM March 10, 2010 Did settlement through a small local firm in Bullcreek, WA. Maintained contact with em - they were cheap, fast and friendly. They called every 2 days for a 2 minute update, and to let me know if anything was needed or if problems existed. Smooth as silk the whole time. I'm selling a house now, and guess which setttlement agent I will contact again...? Comment 10 of 29 CA Posted at 6:09 PM March 10, 2010 In years past Bank Staff handled settlements themselves without any problems .They dealt with Solicitors who in many cases they knew personally and any problems were sorted out promptly and face to face . The problems we now see is a direct result of Banks cutting costs by sacking staff and outsourcing these matters to organisations who don't have the Banks or their customers interest at heart .They simply want the income for doing settlements and have no desire or authority to make compromises in order the get the settlement completed where possible. It is time the Banks woke up and employed their own staff to attend to these important matters . Comment 11 of 29 Licensed Conveyancing Agent of Darwin NT Posted at 5:28 PM March 10, 2010 from our persepective - trying to book in a settlement with ANZ / Perpetual whether discharge or new loan is near on impossible. We have spent numerous hours on the phone with Perpetual waiting to be answered only to be told it isnt ready to book or they are waiting on instructions from ANZ Bank. In the NT we have to provide a Settlement Statement 3 working days before settlement... impossible!!! It is not nice having to explain to clients that their settlement is delayed for weeks due to the Bank not being ready to book. Initial client response is "why"? The only response we can provide is .. incompetence on behalf of your Bank...feel free to call and make a complaint because we have...although you might be told that the message mailbox is full... or that you should leave a message and they will call you back (which NEVER happens)... or like our counterpart you could just have perpetual hang up in your ear after three hours on hold... To conclude - please be nice to your Conveyancer, we tend to endure the backlash in these kind of circumstances o x Comment 12 of 29 annoyed Posted at 5:09 PM March 10, 2010 I work in the home lending industry & the problem is that the banks pay so little to the firms they outsource settlements to that they can't afford to hire enough staff so they can give the level of service that customers expect. The old saying goes "if you pay peanuts - you get monkeys". Comment 13 of 29 bank critic Posted at 4:06 PM March 10, 2010 I settled with CBA earlier last year and had similar problems. The issues with ANZ first appreared to me late last year also when my girlfriend tried to settle a property but was 3 months late. At the end of the day the big 4 banks have to much power and can dictate to the market, this dictation has only got worse with the favourable treatement they received from the governments stimulus package.... time to wind it back if you want them to pick up their performance Comment 14 of 29 matt of sydney Posted at 2:49 PM March 10, 2010 i've been involved in banking for 20 years and home lending settlements for about 15 of those years. when i started in the industry it was considered a sin to miss a scheduled settlement date and cause a client disadvantage. it seems to be the norm nowadays with settlement dates regularly missed due to administrative complexities. so much for the promise outsourcing would make the world a better place. all it seems to do is blur where accountability and responsibility lies. Comment 15 of 29 stressedout Posted at 2:10 PM March 10, 2010 If settlement seems bad you should see what we staff have to go through to get to the booking stage. There is no accountability within the bank and constant viewing of our frustrations fall on deaf ears. No one seems to know what is going on and one party always blames the other for settlements not being booked. Thanks goodness that LIV can see something going on and are shining light on the situation!! Comment 16 of 29 Jane Terry of North Perth Posted at 1:57 PM March 10, 2010 This is the first time I have purchased a property in Australia and I never experience such appalling delays or service back in the UK. It is one thing to pay penalties due to someone else's incompetence but the complete lack of feedback or even having the decency to return calls/emails is just unbelievable...as is our experience with our local ANZ outsourced moible lender in North Perth. If I treated my customers like this I wouldnt still be in business and yet banks....well they just continue to get away with it....afterall no skin off their nose at the end ...they still get our business :-( Jane Comment 17 of 29 Robbie of Sydney Posted at 1:30 PM March 10, 2010 I have been asked to leave as the state offices processing mortgages have closed in NSW except a hand ful staff left to bear the abuse of the result. I have been with the bank for a good time and no doubt the staff were very competent and efficient. But all is lost now. NSW think twice before getting the loan settled with ANZ as there is a 100% chance of the settlement to not happen on time. May be things will get better in a year from now. So who wants to be a scapegoat. Sure others banks may also mess up , there is a chance, but here it is certain. Have a good time with the banker of the year. Our money they mess it up and we pay. Happy banking. Comment 18 of 29 HelloKitty of Melbourne Posted at 1:28 PM March 10, 2010 Bring back Gaye & Cherrie! Dealing with Perpetual on a day to day basis has become a huge nightmare!! Comment 19 of 29 Tony Donaghy of North Perth Posted at 12:59 PM March 10, 2010 I am currently renting the property I wish to buy from the vendors at $500 per week ON TOP OF THE AGREED PURCHASE PRICE due to the complete inability of ANZ to complete the financial settlement after 3 weeks since the signing of final documents. I had to threaten legal action before I even got a return email message from the ANZ manager handling the transaction. As for their mobile lending sub-contractor...... not a word once he got his contract signed and commission secured. I am looking at paying penalty rates on the purchase of approximately $200 a day. Home Lender of the Year My Ar$e. And of course, the extra money comes out of my pocket, not theirs. Comment 20 of 29 unemployed of Brisbane Posted at 12:51 PM March 10, 2010 ANZ has alot to answer for. There will be no other state head offices left in OZ by the end of the year except Melbourne. All document preparation is being done in India ... yes India. The settlement issue also wont go away because ANZ pushed the complete transfer of ALL settlements on Perpetual before they were even ready or able to do them. Comment 21 of 29 Russel of Sydney Posted at 12:43 PM March 10, 2010 The banks should be asked to shoulder additional expenses should the settlement been delayed or failed as a result. They need to be responsible about the services they provide - we the customers deserve more as they are getting heaps of profits from us. Comment 22 of 29 Venkat of Melbourne Posted at 12:03 PM March 10, 2010 Gosh this is just a tip of the iceberg with the mortgage matters. Ask the staff who work with ANZ or who have been made redundant due to this foolish decisions made by few so called senior management staff. This move by ANZ is a disaster in waiting. Comment 23 of 29 Chris Bates of Canberra Posted at 11:38 AM March 10, 2010 Our property settlement (sale) was meant to occur on Friday 15 Jan. ANZ had been made aware of this in December. For the first time in my life, I had rung a complaints line. The lady who took the case on at one stage told me the documents were in Canberra with Perpetual (bearing in mind that Perpetual don't have an office in Canberra)...After working in mortgage lending for ANZ in the late 1990's to early 2001, I found this jsut awful. To compound matters, nobody knew what was going on and ANZ failed to settle. Adding insult to injury, they then charged us interest until THEY got to settlement 4 days later - yep, even missed Monday! No apology and no concept of customer service when all that needed to be done was a single piece of paper instructing the settlement and what was needed. Needless to say, ANZ have since lost more than 95% of our business AND the $570k mortgage that was to replace the sold property. All it would have taken was the $200 interest to have been refunded AND a letter of apology. Now though, I will bleat to whomever will listen to never touch them until they give some g'tee that they will settle when required. Comment 24 of 29 DAVID of Brisbane Posted at 10:19 AM March 10, 2010 Oh My God you think ANZ has problems. I could write a book on what the commonwealth Bank has done in the past six months. They are the worst not ANZ. Comment 25 of 29 Andy Posted at 10:12 AM March 10, 2010 I applied for a home loan with ANZ in Brisbane and it took then over 2 weeks to get back to me with a yes or no.... in the mean time I lost the property I was after.... Thanks ANZ! Comment 26 of 29 Muppets work for Perpetual Posted at 10:03 AM March 10, 2010 Perpetual was the reason we almost had our settlement fail in Qld. ING uses them also and the whole settlement process was a shambles and an absolute nightmare. Perpetual is beyond useless... Comment 27 of 29 Patrick Posted at 9:49 AM March 10, 2010 This is a typical case to show that sub-contracting does not work out for every business specially when there is a requirement to meet restricted deadline. ANZ should review how much they could save by subcontracting vs penalty or compensation paid to clients due to their faults. Comment 28 of 29 dave Posted at 9:23 AM March 10, 2010 This is no surprise. When we bought our current property the vendors were with ANZ and we had to have settlement re-booked on no less than 4 occasions due to ANZ not being ready. As usual, they also didn't compensate us for the additional legal expenses we incurred.

RBA must choose between housing and currency bubbles: Computerisation of land records continues in six districts

Mar 25 2015 at 1:02 PM | Updated Mar 25 2015 at 1:44 PM RBA must choose between housing and currency bubbles The RBA has introduced unprecedented monetary policy settings in the form of the cheapest borrowing rates in history to put downward pressure on the Aussie dollar. Rob Homer by Christopher Joye The Reserve Bank of Australia's governor Glenn Stevens is trying to unravel a Gordian knot created by his institution's inconsistencies. The RBA is blowing the mother of all housing bubbles to deflate an overvalued exchange rate. It is replacing one asset pricing conundrum with another, arguably more dangerous, one. The RBA has introduced unprecedented monetary policy settings in the form of the cheapest borrowing rates in history to put downward pressure on the Aussie dollar. Relative to both the Greenback and our key trading partners' currencies, the exchange rate is way above the RBA's estimate of fair value, which is around US70¢. When the RBA cut rates in February it judged the local housing market was cooling. Much like it thought rate cuts in 2013 would not fuel an unsustainable housing boom that would force regulators to introduce macro-prudential rules to slow credit growth running at three times the rate of incomes. On all these counts the RBA's forecasts have proven badly wrong. It has probably been blindsided by housing dynamics over the last couple of years because it has never confronted these conditions before. Back in 1991 the value of housing debt divided by disposable household incomes was just 35 per cent. Today it is over 140 per cent - beyond any previous peak. And climbing every day. Australia has never had to contend with home loan rates below 4.3 per cent. And home buyers have never seen more expensive house prices - either in absolute terms or compared to their incomes. The bad news for the RBA is that the asset-class it has consistently mis-called is heating up again with national house prices inflating at a circa 12 per cent annualised clip over the three months to 25 March. In Sydney and Melbourne auction clearance rates are the strongest we've seen in years. With so much more leverage in the household sector, small changes in interest rates can have a bigger impact on participants' behaviour. The exact size of this sensitivity is, however, hard for the RBA to anticipate because it is in unchartered waters - it has no "base-line" against which to compare current circumstances. It has never had to deal with a cash rate as low as 2.25 per cent... The RBA has been quite explicit in admitting that it is already an active combatant in the global "currency wars", repeatedly declaring that it is battling the overvalued Aussie dollar by crushing interest rates. The problem is that this is a very blunt tool that is inflicting far-reaching collateral damage by inflating asset price bubbles across interest rate elastic areas of the economy and forcing retirees to assume untenable capital risks that could decimate their future living standards. And it is not clear that all borrowers - and especially the record 40 per cent share taking out "interest-only" home loans - will be able to service the repayments required in an inflationary world. We're talking mortgage rates back above 8 per cent, which is only a touch higher than their average level since 1993. Lean on exchange rate So one crucial question is why the RBA is not using its formidable balance-sheet powers to lean against, or actively sell, the exchange rate as it has done on occasion in the past. The RBA's reluctance to directly tackle these distortions is ironic given its two most senior leaders - Glenn Stevens and Phil Lowe - made their policy bones advocating that central banks should "lean against" asset prices that were far removed from fundamental values if they threatened the economy's overall well-being. There is no doubt the Aussie dollar falls into this camp. Indeed, that has been the RBA's official assessment. Interestingly, Lowe and Stevens made this case in the context of their critique of the US Federal Reserve, which they suggested contributed to a house price bubble by leaving rates too low for too long prior to 2007. The worry is that on any credible measure the Aussie house price bubble today is much bigger than its US equivalent prior to the global financial crisis. Australia does not need cheaper money. In fact, it would be quite detrimental to long-term productivity. The lesson from the GFC was meant to be that we needed to take on less leverage and redirect scarce resources away from overvalued banks and homes into real-world businesses that make things that actually contribute positively to productivity. In Australia at least we've done the opposite. Our banks and homes have never been dearer while households have never been more indebted. Of course the currency war itself is an artefact of central bank interference in markets in a race to the bottom to furnish voters with ever-cheaper money. Here I would pay heed to the RBA's Guy Debelle, who in October last year said he found it "somewhat surprising that the market (in aggregate at least) is willing to accept the central banks at their word and not think so much for themselves". Put differently, the central bankers' current BS is not likely to last. There will eventually be a reckoning when freely functioning financial markets reassert themselves at radically different prices. Nobody knows when, but it will happen. And you've been warned. ======================== By Our Correspondent Published: April 26, 2015 Abdul Karim Khan had broached the subject when he asked a question in the house. STOCK IMAGE PESHAWAR: Computerisation of land records has been completed in Mardan while the project is currently in progress in six districts of the province, documents shared with the Khyber-Pakhtunkhwa Assembly earlier this week have revealed. Qaumi Watan Party MPA Abdul Karim Khan had broached the subject when he asked a question in the house. According to the documents shared with the house, the project was initiated under the budget for 2013-2014. Seven districts in K-P – Mardan, Peshawar, Buner, Kohat, Abbottabad, Bannu and DI Khan – were selected for the first phase of computerisation. The document stated land records of Mardan district have been digitised while the project was at different phases in other districts. The land record computerisation project in seven districts had also been in K-P’s budget for 2014-2015, added the document. Going digital Several types of documentation are needed to digitise land records, all of which need to eventually be computerised. Documents on the computerisation of mauza-wise (mauza is vernacular for estate) scanning of records on rights and data entry in Peshawar showed 191 register haqadaran zameens (RHZ), a land registration process which gives the details of the landowner, cultivator, land and soil, according to the country’s land administration system. Of these, 190 have been computerised. Out of 191 mutations (records of the transfer of title from one person to another), about 176 have been completed. Furthermore, out of 345 RHZs of Abbottabad, about 258 RHZs were completed. Only nine mutations out of 345 have been completed. In Mardan, 176 RHZs and mutations were completed. In DI Khan, 340 out of 390 RHZs have been completed while a similar number of mutations are yet to be computerised. Similarly, in Bannu, 209 out of 249 RHZs have been computerised. Data entry The data entry status for all seven districts revealed out of 191 mauzas in Peshawar, data entry had been completed for 190 while the entry of the last mauza was currently in progress. Data entry for 248 mauzas has been completed in Abbottabad. Moreover, 314, 112, 57 and 14 mauzas have been entered in DI Khan, Bannu, Kohat and Buner. In Mardan, 176 mauzas have been computerised, it added. In addition, farad badar (the error correction process) and mutation entries of 106 mauzas in Mardan, 29 mauzas in Katlang and 41 mauzas in Takht Bhai have also been completed. Management of records According to the K-P finance department white paper for 2014-15 shared with the house, the government had prepared a project cycle of around Rs803 million for the seven districts. However, it was later revised to around Rs1.24 billion. The white paper stated the project would be extended to the remaining districts of the province from the next financial year and an estimated amount of Rs2.8 billion is likely to be allocated in this regard. Published in The Express Tribune, April 26th, 2015.