We're refinancing our home loan to take advantage of the lower interest rates. Switching to Well Home Loans. Is it normal for the mortgage company to ask for an Australia Post verification of identity check?
From what it says on the Auspost website, it sounds like this is only done when buying/selling the place…? Thought I'd better ask around to make sure there's nothing dodgy going on here.
Only for dodgy borrowers..
Well Home Loans is a mortgage manager, not a mortgage broker.
All their loans are branded Well Home Loans.
If they cannot do a face to face appointment with you many lenders will ask you to verify your ID with Australia Post.
OK, thanks.
Yes I've done it before. Although the requirement was from the lender, communicated to me through the broker.
Yeah normal stuff.
Some banks allow you to do online facial recognition
Some require branch visits
Some require auspost
Ubank ask for this when I open a saving account.
100% normal, especially if you havent had a face to face with the mortgage broker himself. Nothing dodgy involved
The lender(s) will want it. Due diligence.Mortgage broker likely asking for it to avoid potential delays later.
OK, sounds like it's a standard thing.
Thanks everyone.
it is part of the new Verification of Identity requirements. Industry continues to push for more compliance requirements from Brokers, whilst bank staff remain largely without the same education or licensing/authorisation requirements.
What dodginess are you suggesting?