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What say your bank says “NO”

If the above happens, we immediately go OMG, what now?

This is where a good Mortgage Broker is very worthwhile.

I am not meaning they have declined you because you can’t afford it, but not accepted your proposal at your terms.

The banking industry changes on a daily basis.  It has been like it for years, so we should be used to it.

Recently our clients existing bank refused to fund a 4 bedroom complex to be built at 80% LVR quoting that it was a commercial deal, and they would only lend to 50%LVR.

Our Mortgage Broker quietly put it to two other banks, and both said yes to 80% lending, so our client could choose.  The bank also threw in $3,500 to go towards legals, thanks to our Mortgage Broker’s suggestion.

Is our client happy?

You betcha!

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