Hi all,
My name is John and I am currently working in China (employed by an international real estate company which is listed in Singapore). My question is that I have already been conditionally approved by AMP for loan facility of AUD600,000 since June this year. I have already identified a potential investment opportunity but I cannot proceed further because AMP is yet to get back to my mortgage broker on unconditional approval. My broker has been very diligent and been chasing AMP’s customer service hotline and the responsible BDM but no reply has been heard so far. I am running out of time to close the potential investment opportunity so I am asking for options on how to proceed further:
1) Look for another bank but I don’t think any lender will be able to turn around in 2 weeks? As a side note, can anybody suggest which lender might be open to lend 80% LTV and accept an Australian working overseas and earning Chinese currency?
2) Look for short-term lender who might be able to provide finance (circa 250,000) for say a 3 months period and pray that AMP will be able to turn around in that timeframe?
I am open to all suggestions.
Cheers
John So
Committed property investor working overseas
Hi John
Both Jamie and I have already responded to the same post on the General property forum.
I suggest you only post it once as that way you will get a better response.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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