Hi,
Apologies if this has been discussed before but I couldn't find anything in the forums.
I'm an owner-occupier in an apartment in a block. I'd like to switch lender to get a better rate but the development is affected by construction defects. The process to get the developer to pay for (some of) the remediation works is dragging on and I can't see it being sorted any time soon. For what it's worth, my own apartment seems to be unaffected.
Does anyone have first-hand experience, or anecdotes, of being in a similar situation and switching lenders? Will all lenders flat-out refuse, or will some give a mortgage if the LTV is low enough?
Thanks
Apologies if this has been discussed before but I couldn't find anything in the forums.
I'm an owner-occupier in an apartment in a block. I'd like to switch lender to get a better rate but the development is affected by construction defects. The process to get the developer to pay for (some of) the remediation works is dragging on and I can't see it being sorted any time soon. For what it's worth, my own apartment seems to be unaffected.
Does anyone have first-hand experience, or anecdotes, of being in a similar situation and switching lenders? Will all lenders flat-out refuse, or will some give a mortgage if the LTV is low enough?
Thanks