Browse Forums Home Finance Re: Bank is still suffing us around grrr 21Jan 19, 2011 3:28 pm I'm joining this debate late, but I have been in the same situation (i.e. bank re-valued six months after unconditional approval only to devalue by approx $20,000 - nightmare - and this was after the land settlement date! This was for land/house). Your financial application really only lasts 3 months and then they can do it all again - valuation included - though not all do, so buyers beware. Having said that, I would be talking to other brokers about the dilemma and see if you want to change, because it really all hinges on the valuation. You need your broker to go into bat and find an alternative lender who is more helpful (mine successfully found one - at the eleventh hour). But they need to care enough to take it on. If the lender has come in with a valuation less than the contract price, that path is no longer useful to you. I would be adding everything up (including driveway) and approaching lenders through the broker for the full amount, given your borrowing capacity fits the long term demand of the mortgage. Finance can be approved and cleared in a week if they want to. Well, ok - maybe 10 days. The sign they are stuffing you around is a sign - go with someone else. My broker organised it over a beer with one of his contacts - stranger things have happened. I thought it was the end of the world until he pushed a piece of paper across his desk which showed a new valuation fronm a different lender which eventuated in reduced LMI and interest rate (nearly 1% reduction than had I gone with the other sabotaging mob). Go with an alternative and then send - which Bank? - a thank you card for forcing you to do a better deal elsewhere. Building with the Big M, Sandarra Settlement July 16 Site Scrape Sep 22 Slab Oct 12 Framing commenced Oct 13 Build thread: viewtopic.php?f=31&t=39517 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11928 There is evidence of water on the head reveals. That could have happened during the build, or may be happening currently. There are water stains above a couple of windows… 2 3832 You’re on the right track, wire brush in a grinder then a zinc rich epoxy primer then a top coat of some sort, like a waterproofing membrane. Raising the concrete would… 1 7032 |