I have had a phone conversation with a company today who have told me that banks are required by law to annually review all LVRs (surely this means they need to get valuations done on every property every year?), and therefore if my LVR goes above their threshold, they will call in the loan regardless of serviceability.
I have a property that have had it's capital value drop significantly but we are fine with serviceability.
Any thoughts?
Thanks
Cathy
I have a property that have had it's capital value drop significantly but we are fine with serviceability.
Any thoughts?
Thanks
Cathy