Query re approved plans

[MaggieMcT]

Hi guys,

We're having all sorts of headaches with our finance drawdown for our PPOR. We all told by the bank that they cannot release funds without "council approved plans". Our broker tells us that the bank has long since been given the council approved plans. Bank first said that plans were missing job number and council approved stamp on plans. Has since acknowledged that they have job number but still wants council approved stamp. Our broker said that council stopped stamping plans at least 6 months ago, and that what is really needed is a form BA4 with accompanying plans stamped by certifying surveyor. This is what we have and this is what has been lodged. However Bank told my husband on Friday that without council stamp they may require us to get an engineer to certify plans. Our broker is utterly frustrated and says Bank personnel not up to speed with current process.
Anyone have any thoughts/experience with this???

Thanks very much,
Maggie.

 

[A Jeremy]

I would look for a different lender - one that can meet your needs. There are plenty of institutions looking to lend and your broker, if you wish to continue to use them, should know which ones will be suited to your situation. I wonder why your broker hasn't already steered you towards another.

One of the hoops I jump through is to supply a fixed price contract from our builder before auxiliary funds for the build are released but I have no problems with that.

 

[MaggieMcT]

Thanks A Jeremy. Happy to confirm this morning was bank error and all resolved. I pity the brokers who have to deal with this silliness every day ..

 

[Peter_Tersteeg]

This is a fairly common problem. Lenders constantly request information that they've already got. Often I put it down to one department not knowing what the other is doing. It's really frustrating, but usually it's easiest just to suck it up and give them what they want.

 

[westminster]

Thanks A Jeremy. Happy to confirm this morning was bank error and all resolved. I pity the brokers who have to deal with this silliness every day ..

Good to hear all sorted out. The last set of DA approved plans I got were stamped but if policies at Council have changed then so be it.

 

[MaggieMcT]

I'm not sure that they have changed really. Our house was all within code, and I think what was required by council was the form BA3 with plans also stamped by Building Surveyor. As I understand it in WA this is all you need (with Building Permit) as council does not usually stamp plans as they rely on independent cert ....

Bank actually said this themselves in a letter to us re progress payment drawdown, but someone on the progress payment team was inexperienced and screwed up ..wouldn't be a big deal with it hadn't taken 10 days to resolve and if it hadn't been the second major screw up since mortgage was approved ...