Thanks so much Rebecca - I was hoping this would be the case but will wait for the bank for the final word. Thanks again for the fast response.

Thanks Bec! I would have thought so too, given really low fixed interest rates prior months ago. thanks for the insights

OP here! Thank you for all the great replies. Your input was much appreciated as I am a complete novice when it comes to buying a home!
I am happy…

Thanks Rebecca, it's interesting that some banks are keen and others aren't. We will ask around for a local broker, although had a slightly negative experience with one of the…

We bought the cheapest block of land in the newly released housing estate March 2020. selling price then was same as bank valuation. Block was tricky west to east…

Sounds fair, thanks folks!

We have an excellent broker and have 100% faith in him.
We are just going to write the letter and include our justification of the difference in variance which I…

Thank you so much, yes I called her up again and she said yes of course, it's easy for you to get land only based on my circumstances. Thanks so…

Hi,
Was just looking to see if anyone has already asked, and this thread maybe the closest.
Is there any advantages / disadvantages to doing separate loan (settle land first then…

Thanks, will keep this thread posted.

Thanks Rebecca, early extension of contract is impossible as it is government. I contracted through Randstad with PAYG. Definitely will not fall into self employed. Have been contracting with the…

Thanks. Had to call in a couple of times to get this fixed. The FHOG was approved but sitting in some ghost account, the lender credited to the construction facility…

Cheers, I went to a broker and it came out much better

I initially had pre approval prior to signing the land contract. It was a general one, as when I applied for pre approval I was undecided with either to buy…

Do your circumstances allow you to move to a cheaper area or even another State? Cheaper doesn't always mean nastier and there are numerous beautiful well serviced areas that you…

Thank you 😊

So as it turns out, we are still exempt from stamp duty - woohoo!!

Thanks for the feedback everyone, it does make me feel a lot better about the situation. I don't know why they couldn't just tell me this information at the time…

Excellent, thanks for the information. Very helpful!

You may try to challenge but very unlikely to change. We went to 2 other lenders and they both got much higher valuation. Make sure you submit all docs, variations,…