And that roadwork at the bottom of my street, that was to go until 3rd June? The signboard has been updated, now, to the 18th. Oh joy.
On a positive note, a pamphlet arrived tonight, explaining some changes being made to a few spots that are known for traffic snarls and/or difficult access, on and off the local motorway. They're really good, positive changes, which should eliminate a number of trouble spots and make my trip home from work a bit quicker too. Hopefully those roadworks will be done at night also; I think they'd have to as there'd be a riot if they decided to work on the motorway access during peak traffic flow.
On the work front, all of the big banks have pulled back on non-resident lending recently, leaving us and a couple of other small players still doing it. We have been swamped with applications, to the extent that the decision was made to restrict our non resi stuff as well. I was appointed as the non-resi go-to person and all deals had to come to me first, to be vetted, and I had to then advise our Compliance officer who would try to verify the documents that had been provided. That's the hardest thing about non resi stuff; it's so difficult to verify the validity of say a Malaysian payslip.
I had a really straightforward one today, for a South African couple buying an apartment in a Melbourne suburb; sent it off to the mortgage insurers expecting a quick approval but instead got a phone call telling me that the mortgage insurers had made the decision just today to pull out of covering non-resi stuff. Which means that the three other deals I still have on the go will need to be canned as well. I do feel sorry for the brokers, whose livelihood is affected by this, and also for the purchasers who in most cases signed contracts a couple of years ago, buying these apartments off the plan, but I totally understand why we're all pulling back all of a sudden. I feel even sorrier for our BDMs who have to have the