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3 Comments
My partner is waiting weeks and weeks for a mortgage approval and has 70% equity in the brand new build. Still not approved and 6 weeks to go before the house is complete. Hate to think how hard it is to get a massive loan at present. Banks are drilling right down into your expenses line by line.
Gosh I know that feeling, had our lawyer chasing the bank for the letter of offer of finance an hour before close of business on settlement day despite meeting all pre-approval conditions on day 2 of 10 and spending the next 8 days chasing this letter from my end. This was 3 years ago on a First Home purchase.
What happens if finance doesn't come through, loss of deposit?
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