All Topics / Help Needed! / Low valuation

Viewing 3 posts - 41 through 43 (of 43 total)
1 2 3
  • Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    March 5, 2013 - 3:05 am

    Hi Hannah

    Congrats – that's good news, and a good result!

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of lila77lila77
    Member
    @lila77
    Join Date: 2012
    Post Count: 65
    March 9, 2013 - 12:40 pm

    I really think the banks somehow have lower vals for 95% lends. I bought a property last August for $265,000 (bought under value). Got it revalued in september 2012 at $310,000 and borrowed up to 80%. Recently wanted to up the borrowing to 90%. The val only came in at $280,000 (they wouldn't use the $310,000 despite it being less than 6 months). I didn't have time to contest this so can't give any advice here.  

    Goodluck. Sometimes you have to be very creative with the borrowing to get what you want.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    March 9, 2013 - 10:00 pm

    Hi Lila

    Most the time the valuers that are appointed to carry out the valuation don't have a clue what LVR the loan is going to be – the info they're working off is how much was it purchased for (if a purchase) or how much does the owner think it's worth (if a refinance).

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

Viewing 3 posts - 41 through 43 (of 43 total)
1 2 3

You must be logged in to reply to this topic. If you don't have an account, you can register here.