Our bank (community credit union) approved us for a home loan a month ago with an LVR of 92% which by rights should still be valid - it lasted for 3 months.
They have now re-negged on that and are now not loaning to anyone above 80%.
Even after I made it quite clear that they had already approved us and if we weren?t able to get our home loan with them then what was the point in continuing to bank with them (savings rate is only 3.25%) they weren?t willing to budge. It?s a shame because they provide terrific service and low (pretty much non existent) fees.
If the bank is afraid should we be as well or is it the banks loss and we should find some one who will loan us the money?
Has anyone else experienced a similar problem?
lvr
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