Who pays for a valuation to unlock equity?

Viewing 5 posts - 1 through 5 (of 5 total)

firewater
Member
@firewater
Join Date: 2011
Post Count: 19
February 4, 2013 - 10:51 pm
Hello, quick question:
Who pays for the bank valuation to unlock equity? (I'm assuming its me, but can I capitalise this cost into the LOC?)
From what I can gather, its about $400 to revalue. Its not much in the greater scheme of things, but every dollar adds to an investor's bottom line.
Cheers!
Firewater
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
February 4, 2013 - 10:55 pm
Depends on the lender.
Some allow upfront valuations for free – NAB, Homeside, St George, AMP, ANZ, Advantedge…I'm probably forgetting some, will do this.
Others won't charge for the valuation but will require you to submit a loan application upfront before the valuation is ordered.
There's not too many lenders I can think of that would charge you for a val if you're lodging an application.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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firewater
Member
@firewater
Join Date: 2011
Post Count: 19
February 4, 2013 - 11:38 pm
Thanks Jamie. Thinking of a few more questions… : )
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
February 4, 2013 - 11:59 pm
Which lender are you currently with?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
TheFinanceShop
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@thefinanceshop
Join Date: 2012
Post Count: 1,271
February 5, 2013 - 1:30 am
You can add Macquarie to that list. Westpac do it for some brokers and CBA do it at a reduced fee of $99.
Regards
Shahin
TheFinanceShop | Elite Property Finance
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