Also remeber that some institutes do a pro rata refund of the MI within 12 mnths if the written valuations increase. So if you buy undr the market or add value or both, with the use of LMI then get a revaluation to get the LMI back and more equity.
We deal with Westpac and have had problems with the valuations that they used. So we attained other valuations from one on their board and knocked on their door again, got the money we deserved.
Its also funny. A complete refinance is handled by one department that may not be open to alternative valuations but a top up is by another department which are more open. Go figure?
As my lovely wife says - an obstical is something you go over, or go under, or go left, or go right. If that doen't work - just go straight through the bastard!!
We deal with Westpac and have had problems with the valuations that they used. So we attained other valuations from one on their board and knocked on their door again, got the money we deserved.
Its also funny. A complete refinance is handled by one department that may not be open to alternative valuations but a top up is by another department which are more open. Go figure?
As my lovely wife says - an obstical is something you go over, or go under, or go left, or go right. If that doen't work - just go straight through the bastard!!