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  1. #1
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    Default Going through a Broker for a loan (On DSP) having huge issues.

    *****update*****


    My broker called today and(as I expected he said that the Bank got very agitated when they tried to call Centrelink (because I gave them the central number and not an internal number. Centre link didn't give me an internal because they said there isn't one.
    So the broker said the "Bank wanted me to go to my Dr to get a letter printed that states my disability(s). I replied, "that's doable". Headed up to my Dr and waited 40 minutes to see Dr. Wasn''t my usual dr. Dr was NOT helpful. He told me that he wasn't the original dr and there was nothing in the records stating that I was on DSP. Some of my medical conditions are on file but this wasn't the dr I was seeing at the time. He recommended I go and see my original Dr. He did say that it was very odd for the Bank to want to know my medical health disability.I made an apt with my previous dr tomorrow although she is on holidays, they have a record of my previous health conditions when applying for DSP. The dr I saw today said to me "if you applied for DSP now with your health issues, you may not qualify as they are tightening up eligibility.

    I phoned the Broker back to ask him this questioin:
    "Judging on my medical conditions are the bank going to assess me on them?
    This just isn't fair. Centrelink told me my condition is permanent.

    My Broker started to sound nevous and jumpy in his reply. He guaranteed that NO, it wouldn't change anything as they are not medical assessors. They just want to know my medical disability and that I was granted DSP with back-up from my dr. I can't believe this.
    This is a joke.

    To answer someone's question why I am going through a broker, Because I am on DSP the broker said he could shop around for the best deal. He was so positive at first, but Now I just wonder what he has against me.

    Could this broker be giving me a hard time because he is some kind of sick nut or is this usual?
    Starting to think I will never get the loan.









    I am currently going through a broker for a home loan of $90,000 as I have cash from sale of house(legal separation). I am also on DSP (disability support pension)I am limited in my buying so that is going to be difficult. But I am in desperate need to buy a property(I don't want to rent, can't afford it) Borrowing is actually more affordable for me.(Loan repayments $430 a month)

    MY broker reassured me that he would find a loan for me. He is using my own bank. He told me lots of banks accept DSP now(I was so happy to hear this).


    After much stress and trials gathering all of the documentation I found he was always STILL contacting me about more information. It seemed like a never ending battle.

    I have an A1 Credit rating.

    When he came to my home, he asked me what my medical condition was. I thought that was a bit "odd", but nevertheless told him.
    I have been on DSP for nearly 18 years and have been able to service my own mortgage without issues in the last two years(the home I share with my husband).

    He kept on contacting me and telling me that my bank was having issues with my DSP payment. He said they required a letter from Centrelink to say the length of time I would be on DSP payments. I told him I had already given him the Income Statement and letter from Centrelink stating my fortnighly payments and stating I was on benefits.

    He told me that the Bank wanted more evidence. I was like "huh?"
    He said the bank want to know how long you are going to be on DSP so they know you can service the loan. So I went to Centrelink office to ask them and was told "No, we don't write personal letters to banks to give them this information". My health condition is permanent but they can't tell me how long I will be on benefits. Who knows what tomorrow brings?

    So I told the broker this information.

    He rang me the other day and said "Bank are happy to grant you the $80,000, $90,000) but they still want something in writing from Centrelink.(Now I am tearing my hair out).
    I spoke to Centrelink to ask them if they have ever had this request before and they said "NO". I rang the DSP hotline and also spoke to some people in the office and they said "never before". They said the Income and Assets statement is considered like a payslip and the formal letter stating I am on benefits receiving $x per fornight.


    I was beginning to think that my broker has an issue with me.
    He rang me again and said "They want to know what your medical condition is. What is wrong with you?" I said "ok". My broker asked - "Is it written on the Income and Assets statement what is wrong with you?" Seriously?? He has been a broker for numerous years and I am thinking he is looking after those on pensions all the time. I gave him the Income and Assets form. Wouldn't he know if my medical condition is stated on there? Then he asked me, "Do you have an original letter from Centrelink stating why you are on DSP and outlining your medical condition. Uhmm. No.

    So I give him this info and he goes away and contacts me again the next day.
    The Assessors at the bank want to know what your medical condition is and they want to know how long are going to stay on DSP. I told him "I have a permanent conditon and my payments are ongoing. I asked, "Can they contact Centrelinke? He replied, "Yes"
    He has asked for the phone number. I contacted Centrelink and they have never heard of this but happy to give them details. I had to release to the Broker my Centrelink number and password.
    I am now thinking, is this right?

    Then the broker asks me again, "What is wrong with you?"

    Now, I start thinking I am talking to a Dr or something.
    Totally confused and totally upset now.

    So I have given the broker all of the details and now sit back and wait.

    But I feel tormented by the Broker.


    I rang other banks just to ask their criteria. They all say the same thing - they only require the Income and Assets form from Centrelink and the letter detailing the amount earnt per fornight. I have been told this is a form on discrimination if they are wanting to know my disability.

    I understand they are a bank and they want to know if I can service a loan. They are my bank and have been with them for over two years with over $70,000 bank balance. I am a good saver and excellent repaying loans.


    Starting to think my broker is having a lend of me(no pun intended).
    Has anyone else experienced this?

    I am starting to feel the questions are invasive.

    What do you think?

    I don't know if I want to go through this process again. I suppose I can go directly to my bank for the loan(I did ask them anon if this was their criteria and they told me "NO". They told me on the phone they don't need to know how long I will be on DSP or my medical condition.

    So confused. And feel tormented.

    Trying not to stress because I have to find a place of my own. I am on my own with no family.
    Last edited by Gumnut222; 15-01-2018 at 18:46.

  2. The Following User Says Thank You to Gumnut222 For This Useful Post:

    Annabelle1  (12-01-2018)

  3. #2
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    I didn't want to read and not respond. It is none of the broker's business what your medical condition is, that is between you and Human Services. Can you change brokers? I hope it is all sorted to your benefit. Good luck.

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    Soulzy  (12-01-2018)

  5. #3
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    Default thanks

    Thank you. Yeah, I didn't think it was his business. And I can't imagine the Bank wanting to know my illness/disability.

  6. #4
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    I would also be concerned that the broker now has your CRN and password. Are you able to change your password now?

    Hope everything works out ok!

  7. The Following 3 Users Say Thank You to wobbleyhorse For This Useful Post:

    BornToBe  (13-01-2018),Little Miss Sunshine  (12-01-2018),smallpotatoes  (12-01-2018)

  8. #5
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    I would agree that your personal medical history is just that...personal. No need for bank or broker to invade your privacy at all. I would also recommend changing your centerline password asap and looking for a new broker

  9. #6
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    From my experience I think mortgage brokers are often inexperienced and only interested in helping if it means a quick dollar for themselves. If you know you match the lending criteria of the bank and you are happy to stay with them I say drop the broker and speak directly to them.

  10. The Following User Says Thank You to Bloom Bloom For This Useful Post:

    greenstraw  (04-04-2018)

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    Change your password and change your broker, quick!

  12. The Following 2 Users Say Thank You to Mod-DJ Nette For This Useful Post:

    BornToBe  (13-01-2018),Soulzy  (12-01-2018)

  13. #8
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    Default thanks

    thanks ladies. It was a temporary password but he has my CRN. Might contact Bank Ombudsman to see what is going on. Don't want to go through this again

  14. #9
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    Hi
    I am also on DSP and just got a loan from a broker, i was asked quite a few times to send in current documents regarding my DSP eg bank statements every few mths, plus a few things from centrelink.. I also was asked if my disability was on going. However i am on the DSP (blind) as i have a vision impairment so it wasnt really much of an issue..
    I was never asked for personal centrelink information like CRN and password.. If i were you i would be questioning this and chsnge your password ASAP!

  15. #10
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    This seems odd to me. The broker will presumably only get paid if the loan is approved, right? If so, why would he be making it more diffucult? Odd. I would be approaching the bank myself instead and dumping the broker.


 

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