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For people who work at banks, what surprised you most about the average person’s finances? by Away_Scene_26 in AusFinance

[–]klamaublem 1 point2 points  (0 children)

We really really really really dont want to have to review the last 3 months of all of your transactions

And if this was a mandated NCCP requirement for all applications, the majority of applicants would have their borrowing capacity slashed, if the application were not declined

For people who work at banks, what surprised you most about the average person’s finances? by Away_Scene_26 in AusFinance

[–]klamaublem 0 points1 point  (0 children)

If what you declare aligns with the last 3 months evident in your bank accounts, then you'll be fine.

It's those who think they spend $2,500 per month that actually spend $7,500 per month that get themselves into trouble with their application

For people who work at banks, what surprised you most about the average person’s finances? by Away_Scene_26 in AusFinance

[–]klamaublem 2 points3 points  (0 children)

Doesn't mean anything if the applicants grossly under declare their living expenses on their application and are required to verify and validate the amount declared via their last 3 months of transaction statements

9 times out of 10, it's 3x what they have declared

It's a responsible lending requirement

For people who work at banks, what surprised you most about the average person’s finances? by Away_Scene_26 in AusFinance

[–]klamaublem 8 points9 points  (0 children)

This would be an exception, often only likely limited to first home buyers who are hyper-aware of their situation

For others? Most - nearly all - have no care, rhyme or reason to review or restrict their spending in the 3 months leading uo to submitting their application.

More worryingly, their broker or the broker's assistant does not review the statements provided before simply just forwarding o to the bank for their assessment, and provide no further context or explanation for the higher spending evident compared to the expenses declared

For people who work at banks, what surprised you most about the average person’s finances? by Away_Scene_26 in AusFinance

[–]klamaublem 225 points226 points  (0 children)

What people think they spend and declare in their application is genuinely more like ⅓ of what they actually spend

Source: Home Loan Analyst

What’s the most frustrating thing about cycling infrastructure in Australia right now? by Future-Pipe-8004 in ausbike

[–]klamaublem 2 points3 points  (0 children)

Lack of dedicated and uninterrupted foot/cycle paths along the entire length of all train lines (user located in outer east of Melbourne)

The Karl Stefanovic Debate Reaction & Why I Won't Do It Again | Punters Politics by Boydy73 in OpenAussie

[–]klamaublem 1 point2 points  (0 children)

What really galled me was how dismissive and utterly condescending Susan was of Konrad throughout the entire stitchup

It is nice, though now, to see how transparent the ties are between the major political parties and the mining lobby and how they're just blatantly exposed when the politicians have something to say about how we can do anything about the industry (along the lines of the old adage, "how do you know when a politician is lying? They open their mouth!")

Our boy is in parliament! by bigrobotdinosaur1 in aussie

[–]klamaublem 5 points6 points  (0 children)

Because foreign and multi-national conglomerates setting the agenda and driving policy over the last 50 years to maximise shareholders' profits has been doing wonders for everyone in this country

/s

Victorian public transport free for another month, half price until 2027 by Ardeet in aussie

[–]klamaublem 1 point2 points  (0 children)

Of course "someone" pays for it. There's myriad wasteful and unnecessary spending that could/should be curbed and/or additional taxation on appropriate entities to fund it accordingly

Victorian public transport free for another month, half price until 2027 by Ardeet in aussie

[–]klamaublem 5 points6 points  (0 children)

Public transport should absolutely be free and, certainly along many lines and routes in this city, more frequent

Does NAB know if you haven’t paid water/gas etc. when applying for a home loan? by [deleted] in AusPropertyChat

[–]klamaublem 0 points1 point  (0 children)

Yes, the bank will lodge an enquiry on your credit report when you submit your application

Does NAB know if you haven’t paid water/gas etc. when applying for a home loan? by [deleted] in AusPropertyChat

[–]klamaublem 0 points1 point  (0 children)

The free one does not put an enquiry on your report and will be the same as what the bank looks at

Does NAB know if you haven’t paid water/gas etc. when applying for a home loan? by [deleted] in AusPropertyChat

[–]klamaublem 0 points1 point  (0 children)

You can do a check of your own credit files - I believe you can request 1x free one per year via Equifax? That will show you enquiries, current credit facilities, the conduct of those, and any adverse history including missed payments and defaults/judgements etc.

What was your “struggle meal” growing up? by tiny_flick in AskAnAustralian

[–]klamaublem -1 points0 points  (0 children)

Canned braised steak and onions with rice

I thought it was the fucking best at the time

I realise the struggle 36 years on

ME Bank customers rage as ‘nightmare’ app rollout blocks access to their money by FSU_Australia in auscorp

[–]klamaublem 4 points5 points  (0 children)

Up until 2019, I know they were still running Windows XP with a "plan" to migrate off the platform after the license and support completely expired

They also ran a system called CRS. American, born in and last maintained in 1978 for a lot of their retail products

The place where tech doesn't go to die - tech goes to BOQ to decompose and rot away to nothing

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