Adelaide (Bendigo) Bank still ok?

[TigerBoss]

...Just for the record, I have many of their shares and they have plummeted from $13.50 to $6.00 so if you think I'm happy about it, think again!

I bought shares in the big banks back in 2003-04, but didn't go futher down the pecking order than St George - which means I now have a double dose of Westpac.
I expect one of the big boys will take over Bendigo, and parity won't be too bad as they are all down.

Most of the majors are already in the middle of messy aquisitions, and the ACCC has already stated they are unlikley to support further consolidation if it involves one of the majors. Therefore only BoQ and Suncorp are potential suitors, and they are both struggling even more than Bendigo.

[Dutchy]

Would Dutchy perhaps care to disclose his employer?

[MW]

I owe Adelaide/Bendigo bank money not the other way around so go bust I say!

So what happens if a bank goes bust and you have a mortgage with them?

[JAS]

I owe Adelaide/Bendigo bank money not the other way around so go bust I say!

So what happens if a bank goes bust and you have a mortgage with them?

I'd guess that your Gov might do similar to ours when my mortgage lender (a bank called Bradford & Bingley) went underearlier in the year. The savings side of it was sold off to Santander and the Treasury took over the lending side including mortgages. Whilst a slight lack of info at the time made it rather nerve wracking it's basically had no effect on me at all...still make the same monthly payments using the same direct debit. I believe the only real difference is that they can't arrange more mortgages or loans and if I wanted to change anything about mine I'd have to find a different lender.

If you were hoping it might get written off...nice thought by forget it

Regards
JAS

[aceman]

I wonder why Bendigo/Adelaide Bank has slipped dramatically in the provision of home loans over the last 6 months especially with what the Govt has had on offer for 1st home buyers?
Anyone offer any valid reason for that? I think I know the answer but am open to other suggestions.

[Psyber]

I wonder why Bendigo/Adelaide Bank has slipped dramatically in the provision of home loans over the last 6 months especially with what the Govt has had on offer for 1st home buyers?
Anyone offer any valid reason for that? I think I know the answer but am open to other suggestions.

I had a look at them back in 2005, but their rates for home loans, and for Merchant Services, were not as good as I could extract from ANZ, and CBA, respectively.
They seemed a bit inflexible about it too..

[Strawb]

I wonder why Bendigo/Adelaide Bank has slipped dramatically in the provision of home loans over the last 6 months especially with what the Govt has had on offer for 1st home buyers?
Anyone offer any valid reason for that? I think I know the answer but am open to other suggestions.

I had a look at them back in 2005, but their rates for home loans, and for Merchant Services, were not as good as I could extract from ANZ, and CBA, respectively.
They seemed a bit inflexible about it too..

agreed My wife and I were looking for a homeloan around then and we went in and saw the bank manager and they knew all our account details as we banked with them for years and we still bank with the bendigo but our opitions were limited.

[EAGLES]

Looks OK to me: http://www.bendigoadelaide.com.au/publi ... sp?nID=602

[Lightning McQueen]

Not a fan at all, I got approved to re-finance my house through them as my loan was already through them. They slugged me $750 for breaking the existing contract (fair enough), they then renigged on my re-financing as they said I lied to them.
I got married between the time I first took out the loan and when I applied for the re-financing, apparently I should've not put my wife on the application, it was pretty obvious considering both of our monies was going into the account and I got her name put on when we got married. I had to fight tooth and nail to get them to reimburse the $750.
I said to them "You guys didn't ask me if I was cool with you merging with bendigo bank so what difference does it make to you if I got married".
I live in Adelaide so "Adelaide bank" is somewwhat appealling, I've never been to Bendigo so I have no interest at all in banking with them.

[Psyber]

I live in Adelaide so "Adelaide bank" is somewwhat appealling, I've never been to Bendigo so I have no interest at all in banking with them.

I banked with the old Bank of Adelaide before the ANZ took them over in about 1976, and have mainly banked with the ANZ since.
I sort of had too when I went into private practice and found the Savings Bank of SA, which became BankSA, were a bit rigid.
Also, my brother-in-law had held the plumb job of managing the Bank of Adelaide's London branch for some years before he returned to Adelaide, and met my sister whose real estate firm also banked with them.