on 01-07-2019 11:15 AM
Completely agree with the criticisms surrounding NAB processes lately.
A discharge authority for a partial discharge was lodged on 30 May 2019, with settlement due on 26 June 2019. We sent numerous conversations to NAB asking for an update on progress, most of which were ignored. We asked numerous times to be advised of any outstanding requirements so we could follow up with the clients. We did not receive a response until two days before settlement, when we are advised that they were waiting on Credit Approval from the clients banker. NAB advised via conversation that we would have to have the client contact their banker. When I contacted our client they advised they have not had a banker or a contact at NAB for years. I called the settlement bookings line, who was able to provide me with the contact details of the branch & banker the file had been assigned to.
Once we got on to the banker, we were told that the settlement department had only sent them the file a week out from settlement, even though a valuation was required. We were lucky that the banker in question was incredibly helpful, and managed to have the file escalated to prevent any delays in settlement.
Regardless, it is absolutely appalling that we had to waste so much time chasing NAB. We are growing weary of NAB continually passing the buck, and expecting practitioners to contact their bankers to have files certified or escalated. Why can't the settlements/PEXA team contact the banker? They're a NAB employee! It should not be our responsibility to follow up THEIR bankers to ensure they are doing their job properly.
It is just an absolute joke at this point. There is no communication between teams, and the undue stress it is causing practitioners and clients is abominable.
on 01-07-2019 11:41 AM
I could not agree more. I am so tired of the comment "Discharge authority received - please contact ..." to my response is "it has been received - speak to someone within the bank rather than using me as an unpaid employee or check before you send this message"
I am so tired of nothing being done until one or two days before settlement by banks who have had more than ample notice
I am so tired of banks not signing workspaces until the last minutes or in many cases after settlement times
I am tired of banks expecting everyone else to be efficient when they are so inefficient
I am so tired of the lack of consideration and responsibility shown to their customers and then bearing the brunt of this
I am so tired of people complaining about settlements being delayed to me when it is the fault of the bank
I am so tired of not being able to complete financial calculations when lenders are so late in providing net funds available or payout figures.
I could go on forever
What is even worse is that the guidelines for banks are continually ignored by banks and they know that they have us over a barrel as we just want to get things right for our clients.
Should not the Law Institute and the Conveyancers Association be getting involved on behalf of all their members?
on 02-07-2019 03:27 PM
Thank you for the feedback about the experience you and the client had with NAB.
As per our conversation over the phone we take the feedback very seriously and wish to apologise that you had to chase the matter so much.
Once provided specifics on this experience we will investigate where the breakdown in communication was and how we can ensure the process is consistently seamless and delivers a stress-free experience for our customers.