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
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