Hi,
i just got a pre-approval for construction loan this week but I've been told by my broker that I would need to re-apply after the financial year if i haven't got the builders contract made up (which is less than a month). spoke to the builder and was told contract won't be ready until end of July as they still need to do soil test and other things prior to tender stage.
is this correct? the pre-approval included my commission from work but since work has died down I'm worried that they will offer me less since commission is low.
is there a way i can extend my pre-approval?
any help would be great!