Originally Posted by
Rawz
Cyclical, as a customer I would be frustrated with your experience but as a shareholder I wouldn't worry.
HGH are great at reverse mortgages, vehicle, construction, forestry, agri and transport finance.
Banks (the real banks) are great at home loans and credit cards. Let them both do what they do best I say.
And let them allocate precious capital to those areas they excel in.
This offer is all about them testing the market and their online systems to see if they can write loans with as little employee involvement as possible. That is why the customer service rep told you there isn't a mortgage team to talk to, because there literally isn't by design. If you cant tick all the boxes and get the computer to say yes then they don't want to know ya. If you can then great, you get the good rate and HGH spend only a few FTE hours on closing out the deal.
The banks have personal bankers spending hours with customers sitting in expensive branches. HGH trying to avoid this model.
HGH Fintech soonish maybe