Thanks all for your comments, we have decided that it is not worth the risk to purchase this property at auction. The valuation or serviceability is not our concern. It is obtaining the LMI approval, when the property interior is in need of a lot of repairs and cosmetic renovation. Who knows it might not sell and we can jump on…[Read more]

The property that we are looking at is in metro Melb. I will however talk to our broker about NAB, he has spoken to me about an option with Homeside who is backed by NAB……….This is our first purchase, so nervous about the 'what ifs'

We were thinking of doing our own val just for a little bit of reasurance that we were not completely off the mark. We are using a broker and apparently ANZ are not doing 95% on IP's at the moment. Will have to check on CBA, might approach them directly

Thanks Banker. Most likely Bankwest at the moment. We were considering doing our own val, to confirm our research. I was unaware that you can get a bank val prior to auction, definitely worth considering. Are there any additional risks to this method that we should be aware of?

Thanks god of money. Can you tell me what they should have and where to check that info?

By the way this is in Melbourne