Browse Forums Home Finance 1 Sep 04, 2010 9:45 pm G'day everybody... Just put in an offer on a good value duplex...it has been accepted ! But, it has an asbestos roof !! Will our bank have an issue with lending us the money? And if so, which lender should we approach? Hope someone out there can assist... "I have more chance of playing full-forward for the Western Bulldogs than of leading the Labor Party!"- J Gillard... "umm...do I have to move to the Forward Pocket now ?" Barry Hall... Re: Asbestos Roofing...on a duplex we are buying... 2Oct 01, 2010 10:21 pm I am in an old asbestos walled commission home, and the bank approved this. So I don't see a problem. But I guess you have already heard back from the bank... Speedie_and_spunky G'day everybody... Just put in an offer on a good value duplex...it has been accepted ! But, it has an asbestos roof !! Will our bank have an issue with lending us the money? And if so, which lender should we approach? Hope someone out there can assist... Re: Asbestos Roofing...on a duplex we are buying... 3Oct 01, 2010 11:09 pm I don't think the bank are going to have any issues with it... the only problem would be if the bank's valuer devalued the place based on the roof - but I think that's unlikely - the valuer isn't going to be climbing onto the roof or anything Re: Asbestos Roofing...on a duplex we are buying... 4Oct 05, 2010 3:47 pm It is unlikely the valuer will even know it has an asbestos roof unless somebody tells him. If he does mention it in his valuation report and you are borrowing >80% of the property value then the mortgage insurer may decline the loan because of this. In reality it is not a major concern from the banks point of view. Even if it's not being sub-divided and you want to keep it as Torrens title, you will still need to talk to a town planner or Council themselves, to see if they will allow… 1 11039 Give Jonathan a call. Tell him you know me. He is in my opinion the best surveyor I have ever worked with. His number is 0425 285 622 All the best Simeon 3 12418 2 6196 |