Forum Replies Created

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of blacklambblacklamb
    Participant
    @blacklamb
    Join Date: 2010
    Post Count: 3
    September 3, 2010 - 12:51 am

    Definitely – just goes to show that sometimes settlement delays in off the plan purchases are a good thing.  When I signed the contract nearly 16 months ago I was told I'd be moved in by Christmas 2009!  No doubt I'm financially better off because of this delay and better off than most first home buyers.

    For anyone interested, the lender is Bankwest and I had no prior accounts or borrowings with them prior to applying for this loan.  They have been great to deal with.

    Profile photo of blacklambblacklamb
    Participant
    @blacklamb
    Join Date: 2010
    Post Count: 3
    September 2, 2010 - 11:44 pm

    Thanks for the replies everyone :)

    I am happy to report that the valuation has come in at $40k more than the purchase price and the bank is lending 80% of that rather than the contract price.  Loan amount works out to be roughly the same (initial loan application was for 90% of contract price) and now I don't have to pay LMI.  Very happy with this turn of events.

Viewing 2 posts - 1 through 2 (of 2 total)