ANZ has put their turnaround times back on track after a recent blowout that saw the bank take 12 days to process loans.
ANZ general manager mortgages Michael Bock told Mortgage Business the bank had revised their service time down to four days and that number was only expected to improve from here on in.
Mr Bock said the bank had not foreseen the recent strong revival in demand for home loans or the amount of business that would flow its way, and were short of troops in their mortgage processing centres.
“We want to deliver our brokers with the best service possible,” Mr Bock said.
ANZ is currently trying to improve its competitive standing in the mortgage industry.
Yesterday the bank launched a new mortgage product that enables property investors to bring together all of their home and residential investment lending under a single credit limit.
The ANZ Portfolio mortgage operates like a line of credit and is geared to enable investors to consolidate multiple loans under the one facility with the added convenience of up to 12 sub accounts.