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08-04-2021, 04:48 PM
#14521
Originally Posted by LaserEyeKiwi
Good news: Heartland now stands alone with the cheapest home loan rate in the market at 1.99% with its online offering (HSBC raised its rates from 1.99% to 2.25%)
now a significant quarter of a percent gap between heartland and everyone else now at 2.25-2.29%
https://www.interest.co.nz/personal-...fter-two-month
Originally Posted by LaserEyeKiwi
This is a brand new product and market segment for HGH - charging the same as everyone else is not going to win them any marketshare, especially with the automated online nature of the HGH offering (which reduces costs and enables the lower price)
Kiwibank is driving me nuts so I thought I'd take a look at moving the mortgage to Heartland. A quick phone call to discuss with them at a high level our circumstances. The person I spoke to was very helpful and suggested I do the quick application process online and see where we go from there.
So I did the application and to my mind we have plenty of equity, good incomes, easy serviceability, great credit rating, what's not to like I thought... Got to the end, did the quick little survey that asks your opinion on what the application process was like, where I put in that it was a positive, quick and relatively painless experience. Clicked ok only for it to come back with a message to say we don't meet the criteria, or something like that. Click here to understand why, which I did and that just took me back to the home page. Excellent.
Rang them up again, spoke to someone different and explained what had happened. Got the response, something along the lines of "we don't really have a mortgage team you can speak to, but you can email us through the website..." Back on the website, composed a message, hit Send, to which a pop up says "An error occurred. Please try again later."
Not a great experience. And as a shareholder, I'm really disappointed.
Originally Posted by Rawz
Not hard when they write less than $10m in home loans lol.
It's purely a marketing ploy. And a good one!
Seems you're not wrong.
Originally Posted by winner69
Best marketing ploy they ever did was to become a BANK ......has more credibility than a finance company and get mums and dads to deposit money with them.
Even their CFO publicly said it was just a marketing ploy
Today they lost some credibility in my eyes. There may well be valid reason why they didn't like my application, but if they're going to have this online application process, they need to get it sorted out as presently it's rubbish.
Last edited by Cyclical; 08-04-2021 at 04:51 PM.
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08-04-2021, 04:53 PM
#14522
Ring Chris Flood at Heartland.
09 927 9139 or 0272266508
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08-04-2021, 05:01 PM
#14523
The heartland digital things I’ve experienced leave a lot to be desired
Fintech they aren’t
”When investors are euphoric, they are incapable of recognising euphoria itself “
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08-04-2021, 05:05 PM
#14524
Maybe you are far too rich for a Heartland loan cyclical?
Was it for a stand alone dwelling - I know somebody who was rejected because their house wasn’t.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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08-04-2021, 05:10 PM
#14525
Originally Posted by winner69
Maybe you are far too rich for a Heartland loan cyclical?
Was it for a stand alone dwelling - I know somebody who was rejected because their house wasn’t.
Haha, if only!
Some of the questions it asks through the application process are if it's a stand alone dwelling on its own section, which is what we have.
I think they do have pretty narrow criteria, but it shouldn't be cloaked in mystery.
Last edited by Cyclical; 08-04-2021 at 05:13 PM.
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08-04-2021, 05:16 PM
#14526
Originally Posted by percy
Ring Chris Flood at Heartland.
09 927 9139 or 0272266508
Thanks Percy but I don't think I'm quite ready to escalate to the CEO.
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08-04-2021, 05:19 PM
#14527
Originally Posted by Cyclical
Thanks Percy but I don't think I'm quite ready to escalate to the CEO.
He is very approachable,and I see it as part of his job helping a shareholder/customer.I am sure he does too.
I have a lot of time for him.
Last edited by percy; 08-04-2021 at 05:21 PM.
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08-04-2021, 05:23 PM
#14528
I did that process and was approved. I was impressed as it only took about 5 minutes
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08-04-2021, 05:26 PM
#14529
Originally Posted by Cyclical
Thanks Percy but I don't think I'm quite ready to escalate to the CEO.
He says on the website “When you need us, we’ll be there."
As percy says Chris a good guy ...I’m sure he’d appreciate your feedback and probably sort it out as well
”When investors are euphoric, they are incapable of recognising euphoria itself “
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08-04-2021, 05:31 PM
#14530
Originally Posted by percy
He is very approachable,and I see it as part of his job helping a shareholder/customer.I am sure he does too.
I have a lot of time for him.
Ok, thanks, I'll take a look. Easy to just abandon it as a potential customer, but as a shareholder, I'm keen to understand what the underlying issues are and to find out if they're interested in fixing/improving the experience, or if that's just how they roll.
Originally Posted by thegreatestben
I did that process and was approved. I was impressed as it only took about 5 minutes
Good to know it does actually work for some.
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