Hi All,
I'd like to get my PPoR valued for 2 purposes.
First, I want to refinance it without paying LMI again.
Second, I will be partly investing it (subletting), and I'd like to set its value for CGT calculation later on in case it applies.
Any tips on how I should approach this? Cost of property valuation ain't cheap so I'm thinking, do I just go ahead applying for a refinance, and if in case it's valued not enough to avoid LMI, I'll just not go ahead with refinancing?
Also, if bank orders the valuation, can I actually obtain a copy of the valuation report and would I be able to use that for CGT calculation later on?
Thanks in advance for you insights.
Cheers,
LnM
Hi Lnh
You are right that the cost of a valuation x 2 isnt cheap especially if you dont proceed with the application.
You are also correct that the Bank normally will not release a copy to you the borrower.
If you use a mortgage broker there are a couple of lenders that allow your broker to instruct the valuation and if this is case then you maybe able to obtain a copy. In cases where i do this for my clients i will release a copy to them.
Richard Taylor | Australia's leading private lender
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