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brokers - equity release

Discussion in 'Property Finance' started by Elives, 10th Aug, 2015.

  1. Elives

    Elives Well-Known Member

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    19th Jun, 2015
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    Location:
    Queensland
    if you have a ip with cba at a 80% lend, can you find out how much cba will value it at with out submitting a full loan application?

    Cheers,
     
  2. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Location:
    Perth WA
    Yep, get a desktop val done by your broker. They have the added bonus of being very generous in some cases.
     
  3. Elives

    Elives Well-Known Member

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    Location:
    Queensland
    will cba lend against desk top val, is this normal?
     
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    They will up to 80% lvr via the broker channel.
     
  5. Brady

    Brady Well-Known Member

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    Location:
    Adelaide, SA
    Speak to any broker or direct to the banker, can order a AVM Automated Valuation Model (desktop). No costs, no application.

    Can be used up to 80% LVR no worries :)
     
  6. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    As @Jess Peletier mentioned, the desktops can be handy in some cases.
     
  7. dubrex

    dubrex New Member

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    25th Jun, 2015
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    Location:
    Geelong
    My broker told me that the CBA desktop valuation is only free if you use it within 45 days otherwise there's a $49 charge, it sounds like they have their wires crossed though?
     
  8. Jess Peletier

    Jess Peletier Mortgage Broker - Australia Wide Business Member

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    Avm is completely free. For some brokers an actual val might incur a cost if it isn't used.
     
  9. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist Business Member

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    There's a couple of different valuation types on their website. The AVM is completely free, but it's essentially a watered down desktop. A driveby or full valuation costs $49 if not used within 45 days. Some brokers have this waived as well due to the high volume of business they place there.
     
  10. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Location:
    Canberra and Sydney
    A full val may cost that - not an AVM.

    Cheers

    Jamie