Browse Forums Home Finance Re: post Easter valuations 101May 05, 2009 11:53 am More waiting for us... BW said that their mortgage insurer dont like my ID (dont ask), and they want more recent pay slips (HINT: If you dont delay over a month they arent old!) and such. I wonder what they will ask for in the next phase... stool sample? Re: post Easter valuations 102May 05, 2009 12:06 pm Hellman109 I wonder what they will ask for in the next phase... stool sample? Not a bad idea to send them that anyway, since they'll make you pay more LMI than you think you should. Ours is $4200 higher than we were told before getting unconditional approval. Re: post Easter valuations 103May 05, 2009 12:11 pm Rex Hellman109 I wonder what they will ask for in the next phase... stool sample? Not a bad idea to send them that anyway, since they'll like make you pay more LMI than you think you should. Ours is $4200 higher than we were told before getting unconditional approval. From pre-approval to unconditional (2 months) my LMI also went up about $2k 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: post Easter valuations 105May 05, 2009 1:33 pm Oh and for a really sad comparison, about 4 years ago my BIL and sister paid about $4k for their LMI! My BIL's jaw nearly hit the ground when I told him mine was going to be about $13k 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: post Easter valuations 106May 05, 2009 2:51 pm After 5 weeks of waiting for the valuation to come back I have only just discovered that it actually hasn't even been ordered, more on my building thread here http://forum.homeone.com.au/viewtopic.php?f=31&t=13002&start=60 Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: post Easter valuations 107May 07, 2009 8:55 pm Still no update! By the time I get my valuation I will have to change the title to "Post CHRISTMAS valuations"...PMSL You either have to laugh or cry and I've already done last enough, so it's time to start laughing. What a f*cking joke, this process is! Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: post Easter valuations 108May 08, 2009 3:16 pm we have just settled on the block I have never been so bloody happy to get that phone call saying you now own your land..congratulations party time tonight http://buildingatfreeling.blogspot.com/ Building at Freeling Estate Adelaide MKII WE ARE NOW OFFICIALLY FIRST HOME OWNERS AND WE BUILT A NEW HOME FROM SCRATCH Re: post Easter valuations 109May 08, 2009 4:58 pm We came in $60k short Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: post Easter valuations 110May 08, 2009 9:06 pm pinkfairymagic We came in $60k short oh noes!! 'A bottle of wine contains more philosophy than all the books in the world.' Louis Pasteur Vegie garden: viewtopic.php?f=19&t=27637&start=0 My Backyard Adventure Re: post Easter valuations 112May 09, 2009 4:26 pm Thats devastating, really sorry to hear. Are you able to go to another bank? Re: post Easter valuations 114May 10, 2009 3:17 pm Cant adjust the house at all, as it's only very simple/basic anyway, we haven't done anything extravagant that we could take out without removing half the house. CBA are the only bank that we can go with now all the banks lending criteria has tightened so much. Building Thread viewtopic.php?f=31&t=13002 Site start: 8th July 2009 Handover: 11/12/2009! 5 months total build time. 40 sqs of luxuary...Bliss! Re: post Easter valuations 115May 10, 2009 3:41 pm Really sorry to hear that Is there anything that you can do after the build by saving up for and doing later? Or if they give you 60k less, and then you did the build without some essentials (e.g. driveway and other things that would be annoying but not essential to live without), could you then use the value of the built house to get a smaller topup loan for the amount needed to do those items? Did the bank have any suggestions once the valuation came through? Any discretion on their side? Re: post Easter valuations 116May 11, 2009 9:05 am That sucks PFM... ours came through not a problem... thank god! ALso in regards to everyones LMI our was only 4k and we borrowed 206k for the house. I paid more LMI buying the land in July last year which was only 150k 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 It seems very clear to me that your contract states that a security account does NOT need to be established so the answer to the builder is NO. If in doubt find a contract… 1 8505 2 31344 If there have been changes, variations, during construction then the drawings should be revised, the building permit amended and the current, as built drawings given to… 2 4480 |