This is standard practice for commercial loans and we are now seeing this creep into the real estate market. If people actually researched their loan commitments and how banks operate, before jumping into what is possibly the biggest expense of their life, they wouldnt be jumping up and down when the bank asks for a val.
IMHO we will see this more and more as many aussies seem to be over leveraged. unfortunately there seems to be a far reaching mentality of "keeping up with the jones's" in this country.
