Browse Forums Home Finance Re: Low valuation problem for construction loan 2Aug 31, 2015 7:55 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Low valuation problem for construction loan 5Aug 31, 2015 9:49 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Low valuation problem for construction loan 6Aug 31, 2015 9:58 pm Custom build Northern NSW viewtopic.php?f=31&t=72217 Re: Low valuation problem for construction loan 8Sep 04, 2015 2:21 am psyherin Also 1 thing I dont understand about the bank why would they touch the credit file before the valuation and go ahead and put mark in the credit file. Go direct to the bank and they like to have you put the application in to see if you will pass their credit scoring and policy before they order an valuation. Why? The valuation costs them money so they don't want to do it first and then find out you aren't a suitable client by checking your credit report afterwards. If you don't want a hit on your credit file, find a decent broker who can order upfront valuations with lenders. This means they can order a valuation, get a gauge of what the valuation is, and if it meets expectations, they can then put the application in. If the valuation comes back short, then you haven't had a hit on your file. Cheers, Tom The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19679 4 6311 If you can calculate the reasonable charged head from let's say 100mm below the gutter to the top of where the vertical riser's horizontal discharge pipe will be, that… 11 17694 |