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Yeah I don't really mind too much about that. We are being given almost 20% of the property for nothing so I wouldn't care too much if I had to pay the extra $3K stamp duty especially if it meant actually being able to borrow more by using that price. Thank you all for the advice and pms...

I just noticed this in the small print on the NAB Rural Lifestyle Loan page It's not more than 50km away from a city so would it still count anyway?

I did have that suggested to me actually. I don't need to bother with it for ANZ as they will lend based on the valuation price, but they won't go over 70% which leaves us about 10K short. Same issue with NAB

I just had a look on their website and it says max LVR is 70%

We are buying from my brother, the valuation is 60K higher than the contract price ETA: It is around 50 acres. We don't need any higher than 80%, even 75% would be fine (of valuation price). If they were to go by contract price we would need 90% and I don't think we have a chance of that anywhere.

Yes according to CBA our borrowing power was about 80K less than what we had been approved for at ANZ. ANZ will happily lend us 90% of any other property (a lot more money than we need to borrow for this one) but it's just the rural thing that is the problem. I didn't ask CBA specifically...

The amount that CBA said we are able to borrow was much less than what ANZ has said they will lend us and wouldn't be enough for the purchase. No rental income, we will be living in the property.

Yes it is. I have spoken to CBA and NAB and they weren't very helpful. I don't really know where else to look at the moment. Am currently stuck at home on my own with kids, there is not much where I live now to go and talk to anybody and even phone calls are a mission during the day! At this...

It is in Central Victoria, around 50 acres, the bank said on the valuation it was residential rural. It already has a house on it but is not connected to services (other than telephone - tank water, bottle gas, off grid solar power). The whole block is bush so no use other than living on it.

Are there any lenders that will lend above 70% LVR on a rural property? We also need them to assess on property value rather than contract price as we are buying the property at a price much lower than the valuation. We are currently doing an application with ANZ and they are able to use the...