Peter's story

A friend Peter was taking 3 days annual leave this week. The reason was he was settling on the purchase of his new home. Settlement was due Wednesday.

Today is Tuesday the day before settlement. Naturally there is a lot to organise in moving house. His removalist was booked weeks in advance, ditto for the utilities, final readings and new connections on the new home. Peter had to pack, get Foxtel changed across, redirect mail, do change of address for vehicles, insurance etc.

And of course, who can forget the legal and finance facets. Peter's conveyancer had everything under control with one exception. Despite the finance being all approved weeks in advance, mortgage and loan documents signed and returned all in good time, why you have to ask is why you cannot book in your settlement the day before settlement is due? This is what Peter is asking himself and of his lender. Is it too much too expect that my lender who promises

"We're ready to help you with... "

would be on the ready to take a booking at least 48 hours prior to settlement? Peter's removalist accepted his booking 6 weeks ago. Foxtel has a one-stop service to disconnect and reconnect on the same day.

It is Tuesday, it is 12 noon, and he has his conveyancer and his broker making extraordinary efforts to get it squared away with the Lender. Peter is understandably agitable. A lot of time and effort is put into getting all the pieces of the puzzle in place and is undeniably felt let down by his lender. His broker and conveyancer quietly assure him this is not unusual.


This episode is entirely consistent with what has become a plague on the industry. Although it shouldn't be like this, it is out of Peter's control and his broker and his conveyancer. Banks don't make excuses and they rarely make apologies. And when an apology is given it doesn't feel like a real apology.

Peter poses this thought. Why when the whole world has embraced digital, why has his bank not done the same. It just seemed at odds that in the age of electronic communications, his bank still seems stuck in the past.

In Peter's case his lender carries a pithy slogan pasted onto the front page of their web site

"Determined to be different"

Unsolicited advice. Instead of running expensive & lame ads, try investing in solutions that live up to clients' simple expectations like Peter's.

www.determinedtobedifferent.com.au

Nominee for worst ad campaign of 2008