Have you started a home project, under the impression that you have plenty of cash available to complete it, only to find yourself falling short of funds?
One hurdle that can negatively impact your purchase or refinance, is if the valuation for your property comes in lower than expected. It can be difficult to know how to move forward in this situation, but sometimes there are avenues available for a better result.
While we would never recommend that you enter into a purchase contract before having finance arranged, we have come across many situations where customers are panicking because they have signed a contract to purchase a home, and have then been declined for finance.
Recently a customer needed our urgent assistance to avoid losing their deposit, after being declined by all the major banks for finance on land they had already signed a legally binding contact for.
You would think that getting a home loan direct from a bank could be a straight forward process, should you have a perfect credit history and plenty of income and genuine savings. But this is not always the case!
An interesting find in a recent study as published by Australian Broker Online on 8th May – Consumer advocacy group, Choice, conducted a “shadow shop” where it sent five homebuyers to three of the biggest mortgage broker businesses in Australia – Aussie, Mortgage Choice and AFG. “Our sample was small, but we found few examples
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