Top Up Loc

I have a number of questions regarding access to credit.

We last refinanced a year before the GFC hit. Our LOC primarily gives a buffer for our property investments.
The need to refinance is probably about a year away. By this time our buffer will have been gobbled up !!!!!!!!!!

*Are the banks still lending on an 80% Loan/Valuation ratio

*How many questions are asked about topping up LOC. How sympathetic is a bank likely to be to requests for general purpose finance? Prvious LOC top ups have gone straight in to our account, NO QUESTIONS ASKED.

*What is the experience with bankers valuations. For instance,, an identical unit to ours with a mirror floor plan sold recently for 450k. Are bank vals likely to match this, or low ball this figure?

Thanks for your responses in anticipation

MDP
 
*What is the experience with bankers valuations. For instance,, an identical unit to ours with a mirror floor plan sold recently for 450k. Are bank vals likely to match this, or low ball this figure?

MDP

I just had a revaluation done on one of my apartments. The valuator looked at surrounding apartments including an identical apartment that sold in the same block (except this one had just been renovated) and they used this sale price as a valuation.

Also, the bank manager will put in a request to a valuator with a suggested price that they believe the place is worth based on their discussion with you. So if you think it is worth $xxx then tell him.
 
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