Im in Richard's boat…i don't quite understand the problem your having Carole…

Having an unconditional contract and having an unconditional loan approval is completely 2 different situation! 

From the sounds of things, you dont even need a bridging loan! as your about to settle (buy) and sell within a 2-3 weeks timeframe….not sure why the bank manager would even consider a bridging loan for such a short period…

With a signed contract ( selling) you should be able to get the bank to provide you with an standard unconditional approval without the bridge. 

Most likely the loan has been approved but they could not meet settlement deadlines ( hence why it's been pushed from the 17th to the 23rd)

There's still a long way to go for the 17th, i would ring up the bank and advise them of this deadline and threaten them with penalty interest- i have done it in the past for my clients and most of the major banks pay up OR gets their act together and settles on time!!! 

NAB will consider it on a case by case basis + they will push you towards their commercial SMSF…

Liberty will do it at residential rates but they only accept house – no units or apartments ( funding via Adelaide SMSF)

Adding on…

If you have good banking records for 24 month and you have been discharged from bankruptcy for at least 24 month, i know Westpac is happy to lend up to 90% as i done 2 loans with them only in the last 6 month for discharge bankruptcy…

Specialized lenders like Pepper, Resimac, Perpetual etc…has a special product for 1 day discharged bankruptcy- rates starts from 8.85%!!!! LVR restricted  to under 80%.

A majority of banks won't touch discharge bankruptcy….

But there are still a handful that would consider up to 80% depending on how long the bankruptcy has been discharged for and the reason for the bankruptcy – ie AMP bank, Credit unions, CBA etc..each bank has different tolerance level and LVR.

I have a feeling Yellow brick road will just white label Macquarie's loan, offering the same deal that Macquarie is offering right now but maybe at a slightly cheaper rate. ( Tier pricing based on volume)..which will have no effect on the big 4…as Macquarie's credit policy is very mushy and loose at the best of times..

I personally won't say it's a great deal…But it is a ok deal..

– Commercial rates, so this will eat into your return quite a bit

– Being an old building Comm building im presuming outgoing can be a bit hefty 

– Regional town

– Can not leverage on the LVR

– Haven't been too Gundagai but according to the beuro average temp is 30-35, with lowest in winter at 22 !!! a bit too hot for my liking…

Depends on location….if it's in a high demand area, easy to sell  and average prices are towards the med- higher mark ie within 10km of CBD it be under 1.5-2%.

All about location, prices of the property and demand in that area.

A bold statement. It depends on the person's risk tolerance, experience, time, financial backing and strategy.

Capital growth over a 5-7 years period can and does make more money then positive gearing,- higher risk…potential for higher return.

I personally think it's good to have a balance of both strategy, capital growth and positive gearing. How "negative" is a different story…

Some banks are offering $700-$1,000 cash back towards the refinancing cost.

^ Great post Brazen…and good to see you on PI.com