Here at Halletts, we were recently visited by a team from Westpac who provided a useful update on all things banking and lending related, including the ‘improvements’ occurring as a result of the Royal Commission.

The key take-away is that no matter which bank you have a relationship with, you will need to allow more time for the processing of your bank loan approvals as the banks are under a clear obligation to know about you, your cashflows and your spending habits in greater detail.

So, more lead-time will be required before you start waving the paddle around on auction day.