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From: Mel G
I bought an off the plan property in June 2001 and it will be coming up for settlement in about May this year. I am currently doing some research on finance and am finding that banks are willing to lend 90% based on the VALUATION price of the property but the mortgage insurers will only lend based on the PURCHASE price. Has anyone been able to get a 90% loan based on the VALUATION price and if so, where and how???
Thank you for your assistance.
Mel
I bought an off the plan property in June 2001 and it will be coming up for settlement in about May this year. I am currently doing some research on finance and am finding that banks are willing to lend 90% based on the VALUATION price of the property but the mortgage insurers will only lend based on the PURCHASE price. Has anyone been able to get a 90% loan based on the VALUATION price and if so, where and how???
Thank you for your assistance.
Mel
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