Forum Replies Created
Yes the mortgage broker was a related company to the property. I know I have been scammed but it is very hard to prove anything.
I am going to file a complaint with the Credit Ombudsman but think it will be too late in relation to stopping the purchase of the house.
The valuation came from a financial institution, but it was done through a mortgage broker. It was all done so backhandedly. The mortgage broker company assisted me in setting up everything in my SMSF, but the amount I could borrow came in a lot less due to the valuation. The first I knew was when a solicitor contacted me and the settlement figures didn’t add up. When I started investigating, it turns out the valuation was a lot lower, so the bank lent me less monies and the mortgage broker had simply up’d the deposit without even contacting me.
Subsequently I have got an independent valuation and he valued the property the same as the bank.
I have now got an independent solicitor involved, helping me on the property contract side. Just concerned the risk I am exposing my SMSF to, if I have to go ahead, as I will have hardly any cash funds left and worried I will potentially breaching my SMSF.
