SelfieBuild
Registered User
- Messages
- 4
Currently looking for mortgage approval and the valuation from the bank is way lower than the build cost. We have a QS, diligently tendered multiple builders and negotiated hard to get the costs.
We are building an A rated home which is more expensive spec wise. We are building in our homeplace to help in the care of our elderly family and of course it's off the beaten track. If it wasn't rural we wouldn't need to move as there would be support locally! Two houses in a neighbouring townsland were used for comparison for the valuation and both were smaller with lower energy rating and old central heating, old spec windows etc.
Financially we can borrow more than what we are asking for so it's not an issue of not having the resources to do tho.
Do we have any right to recourse? What next? Will this impact us at all financial institutions?
We are building an A rated home which is more expensive spec wise. We are building in our homeplace to help in the care of our elderly family and of course it's off the beaten track. If it wasn't rural we wouldn't need to move as there would be support locally! Two houses in a neighbouring townsland were used for comparison for the valuation and both were smaller with lower energy rating and old central heating, old spec windows etc.
Financially we can borrow more than what we are asking for so it's not an issue of not having the resources to do tho.
Do we have any right to recourse? What next? Will this impact us at all financial institutions?