Applying for Top Up/LOC before Xmas

[ashalim]

For the brokers out there,

Just want to know if it's worth applying for a top up or LOC from Westpac at this time.

Will I get fobbed off until after new years if I try?

 

[jonmardell]

i don't see why they would fob you off!! You can apply now but with all the public holidays coming up it will take a little longer to get it approved and settled.

 

[btc]

if your LVR is good, and your top up amount does not require site valuation (ie. bank approves with inhouse valuation), they should be able to sort you out quite quickly. I know CBA does online contract, which can be drawn up in a day or so, and the money can be released/funded within couple days of acceptance of contract. All this can be done within a week.

 

[ashalim]

My LVR was 80% before...But looking at many comparables, I think it is a bit less now.

Basically I have a 335k loan and want to top it up to 360k to get to 80% LVR again.