Reply: 2.1
From: Mike .
Thanks guys, for your thoughts.
I'm embarrassed to say, but I've been caught out and have been paying $80 interest to the vendor since Monday. I still haven't received the Mortgage documents! Hopefully, will get those tomorrow and settle Friday or next Monday.
The property is in Brisbane, so using a Brisbane solicitor, the Mortgage Broker is in Newcastle, NSW and the loan originator is in Melbourne. 3 properties had to be valued.
My solicitor had me sign a 28 day settlement as they thought that would be plenty of time. The solicitor tells me that communications with the lender have been "difficult".
I may have lost some money, but I intend to get a full explanation from someone.
Just for future reference, how involved should a purchaser get with checking that settlement is progressing as intended and will not overrun? I did receive reports that things weren't all well and that the settlement date was going to be revised but I was only told today that interest was being charged from Mon 12th. What could I have done, anyway? Was it a simple case of the short settlement period being too optimistic?
Regards, Mike
Mike - If you are still a member (and happen to read this) - did your loan happen to be through Homepath ?
Has anyone else had any bad experiences w/ this company ?
Seems like they have their fair share of unsatisfied customers... from what Ive heard