From: Ray Summerton
Dear Forum,
A finance broker looks at your figures and says you have access to $x's for an IP so you go and buy a property under that price with a settlement date of say 30 days. Then the bank refuses finance, with 7 days to go. The vendor buys another place with bridging finance and wants to claim interest for the period even tho' it was a subject to finance loan. Is there any cost to the purchaser if the deal falls through?
Regards
Ray
Dear Forum,
A finance broker looks at your figures and says you have access to $x's for an IP so you go and buy a property under that price with a settlement date of say 30 days. Then the bank refuses finance, with 7 days to go. The vendor buys another place with bridging finance and wants to claim interest for the period even tho' it was a subject to finance loan. Is there any cost to the purchaser if the deal falls through?
Regards
Ray
Last edited by a moderator: