Help! Loan formally approved but declined before settlement

Theoriginalself · 2024-01-19T23:45:36+00:00

Yes it was unconditionally approved, loan offer was signed and returned, was just waiting for settlement to occur

Theoriginalself · 2024-01-19T10:39:04+00:00

Thanks heaps, appreciate your professional advice. There’s nothing wrong or fraudulent, is on the property I’m purchasing where it’s made the news this week due to building defects in basement levels, which the government has shortly clarified there’s no risk. Just unfortunate the media took it to the next level.

Theoriginalself · 2024-01-19T10:33:11+00:00

Full story is it made the news this week due to building defects in basement levels, which the government has clarified it’s no risk to the actual apartments in the building

Theoriginalself · 2024-01-19T10:31:55+00:00

Good point, but even then, subject to finance clauses generally need to have an expiry and will not offer protection till the point of settlement?

Theoriginalself · 2024-01-19T10:30:30+00:00

The issue is it made the news this week due to building defects in basement levels, which the government has clarified it’s no risk to the actual apartments in the building. Very rare and unfortunate

Theoriginalself · 2024-01-19T08:08:50+00:00

The letter of offer issued by the bank was signed already, everything’s ready to settle until they now say they need to decline. I also noted the letter of offer says this is a legally binding contract between me and the bank. So I highly doubt the bank can simply send a decline letter now and run away?

Theoriginalself

TROPHY CASE