anyone dealt with ASB Bank

[Kristine]

hi just wondering if anyone has dealt with this bank and what your opinon is of them or even if you havent dealt with them personally any info. would be greatly appreciated they are offering me only 75% of the purchase price and as soon as i build a reputation with them then later they will give me 80% what are your thoughts??

[RentMaster]

I have been using the ASB bank all my life - and I have had no problems. I would recommend them to others. Althought I found I got a better deal by asking a mortgage broker to deal with my bank on my behalf.
If you have enough equity in other properties, I have found they will give you 100% of the purchase price, but they use the other properties as security.

My 2c

[Souljah]

I dont know your personal circumstances but I would think they would go over 75% LVR. Do they want the business or not?

I would use a broker as they will be able to get a better deal. I can point you in the direction of a broker if you want.

[Kristine]

a broker actually told me about them Alison Scooble apparently you have to build a repuation with them, then when you buy other propertys they will be a lot more flexible because i have no accounts in NZ...thats great to hear rent master thanks for that are they a big bank or small?

[cube]

Throughout 2001, the Bank confirmed its position as leader in a number of areas, from customer satisfaction to electronic banking. For the third year in a row, ASB BANK was rated No 1 among New Zealand's major banks in Auckland University's independent study of customer satisfaction.

ASB BANK Investments operation reached the billion dollar mark with funds under management and became a 'top ten' funds manager.

In registering 100,000 customers onto Fastnet Internet banking, and with Internet transactions passing the one million a month mark, ASB BANK had the highest proportion of customers operating online.

The Bank's Call Centre achieved a coveted "Best in Class" award from international company TARP, the first 100 person call centre in New Zealand to earn this award.

ASB BANK's award winning "One Step Ahead" campaign featuring Ira Goldstein was judged winner in the Asian Banking Awards Marketing, PR and Brand Management category.

The Bank also had its best year ever with a 22% increase in profit to a record after tax profit of $183.4 million and 16.5% increase in total assets to $20.1 billion.

In September 2001, the tragic events in USA, and the aftermath in Afghanistan, saw the banking industry treading very cautiously while the markets tried to settle and avoid over-reacting into a recession. As the year ended, the business world looked to brace itself for a potentially rough ride in the year or two ahead.

From http://www.asbbank.co.nz/story338.asp

We used ASB for a long while, until ANZ beat them in a re-mortgage on our own home (pre-IP days). They are good, Auckland based ("Auckland Savings Bank"), but with a few branches around the country.

They are very good at technology, leading the other major NZ banks into the Phone banking and Internet ages.

One investor we know now has 10 IP with them, and can't get another bank to beat the package that they have established with the ASB over the years.

Happy banking

cube

[Kristine]

ohhh thanks for that it sounds great you have helped me to make my mind up

[orion]

Sorry to disagree with you all, just my experience though. I use 6 different banks and had 7 loans with ASB. I would never go back to them again, although I still have 3 loans left with them. Their statements are ridiculously difficult to follow, they do not know which loan relates to which property, one ASB branch said no to me after 3 properties, another said yes, then stopped at 7 properties, the guy I dealt with inn the 2nd branch was not a guy that should have dealt with investors at all etc etc.
Some of it may be one off experiences, but I wouldn't go back to them again.

Regards
Graeme Fowler

[Fran]

We have only been dealing with ASB bank since Nov last year from off shore and find them to be very helpful. I comunicate via email, know the loans manager by her first name and so far she has done every thing possible to ensure the loans on our four IP properties are going smoothly

[Fran]

We have only been dealing with ASB bank since Nov last year from off shore and find them to be very helpful. I comunicate via email, know the loans manager by her first name and so far she has done every thing possible to ensure the loans on our four IP properties are going smoothly

[lissie]

I comunicate via email, know the loans manager by her first name

its a NZ thing - I might call the PM Miss Clark and the CEO of National Bank Sir John (not that I've met either of then!) but apart from that I dont recall the last time I called anyone in busines by anythjing but their 1st name!

[Kristine]

please tell me what branches you all dealt with??

[RentMaster]

Although my account is with the Avondale/Auckland branch, I do most things over the internet. There is not much need to visit a branch. They also have mobile lending managers.

But I have found that I can secure a better mortgage deal with a mortgage broker. They seem to have better negotiating powers.

[orion]

please tell me what branches you all dealt with??

Hastings, Napier and Palmerston North.

Regards
Graeme Fowler

[MobileMortgage]

But I have found that I can secure a better mortgage deal with a mortgage broker. They seem to have better negotiating powers.

Fully agree rentmaster,
A good mortgage Broker is a handy asset to have in your team,
Regards
Steven

[RentMaster]

A good mortgage Broker is a handy asset to have in your team,
Regards
Steven

Do you think so Steven (MobileMortgage)?