On the flip side, you could use the fact that finance is denied to cancel out of the deal and chase another property once you've got your black mark removed from your credit file. But, seek advice from your solicitor.
hmm yeh looks like the whole block sold for $335 in oct 2011, before the subdivide and it was listed for 265k in June with First National. before changing agents to Barry Plant and listed for 275k.
Just going off Price Finder search