Hey guys
Not sure if anyone else has had a similar experience, but Commonwealth is requesting a valuation of my property for the approval of a loan I've already been approved for once. In short, they did a valuation three months ago when I started seriously looking for my second property and everything came in fine and I was preapproved for a certain amount.
After a series of ****-ups by my mortgage broker (soon to be former) which resulted in loosing out on a potential purchase, I'm trying to borrow $32,000 against my existing property as the deposit for IP2 (which takes IP1 lend to 93% but as an existing customer, that's okay).
Problem is, they are insisting the first valuation was a desk valuation - despite the middle-aged Asian lady that spent 20 minutes at IP1 taking photos and measurements when it was valued last time.
Mortgage broker is claiming there's nothing they can do, despite knowing it was a full valuation last time, that it has to be re-valued and they've 'taken it to their BDM' but they ' have no way of overruling this valuation decision'.
Anyone had this issue? Any way around it?
I've a friend that's been diagnosed with cancer and if I'm going to head back to Sydney to let anyone through my property again, I'm thinking it should be someone from another bank - move my business somewhere else. I can't tolerate gross incompetence.
Not sure if anyone else has had a similar experience, but Commonwealth is requesting a valuation of my property for the approval of a loan I've already been approved for once. In short, they did a valuation three months ago when I started seriously looking for my second property and everything came in fine and I was preapproved for a certain amount.
After a series of ****-ups by my mortgage broker (soon to be former) which resulted in loosing out on a potential purchase, I'm trying to borrow $32,000 against my existing property as the deposit for IP2 (which takes IP1 lend to 93% but as an existing customer, that's okay).
Problem is, they are insisting the first valuation was a desk valuation - despite the middle-aged Asian lady that spent 20 minutes at IP1 taking photos and measurements when it was valued last time.
Mortgage broker is claiming there's nothing they can do, despite knowing it was a full valuation last time, that it has to be re-valued and they've 'taken it to their BDM' but they ' have no way of overruling this valuation decision'.
Anyone had this issue? Any way around it?
I've a friend that's been diagnosed with cancer and if I'm going to head back to Sydney to let anyone through my property again, I'm thinking it should be someone from another bank - move my business somewhere else. I can't tolerate gross incompetence.
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