Hi folks,
I have been sniffing around these forums for quite some time and found the multitude of conversations/discussions to be very interesting and beneficial. 1 have 1 PPOR and 2 IP in Melbourne (apartment in Ascot Vale and house in Greensborough).
Although there have been numerous questions/answers regarding calculation of LVR, I I have a question that i don't believe has been addressed - but happy to be corrected. When calculating LVR, do you use a formal valuation by your bank or independant professional valuation (organised by yourself) or your own perceived valuation? What is the standard methodology??
I have been sniffing around these forums for quite some time and found the multitude of conversations/discussions to be very interesting and beneficial. 1 have 1 PPOR and 2 IP in Melbourne (apartment in Ascot Vale and house in Greensborough).
Although there have been numerous questions/answers regarding calculation of LVR, I I have a question that i don't believe has been addressed - but happy to be corrected. When calculating LVR, do you use a formal valuation by your bank or independant professional valuation (organised by yourself) or your own perceived valuation? What is the standard methodology??