Thanks CW for a very informative post,have a look at...

Thanks CW for a very informative post,



have a look at
http://www.commbank.com.au/personal/...C_HomeLoan.pdf

Pg28 Section 3.5
The value of and title to the Security Property must be to our reasonable satisfaction at all times during the term of the Contract.We may obtain a new valuation of any security property.

Pg34 Section 9.1
You are in default of under the Contract if any of the following conditions apply;
C) Value or title unsatisfactory : We are reasonable satisfied with the value of/ or title to the security property or the security over it will be inadequate security for our Loan in accoradnce with our usual prudent credit standards.


The clauses are there should the need to invoke them arise and you don't need to be behind in repayments to be in default on the loan, your house could just be inadequate security vs the loan at the time CBA performs a new valuation