Unconditional loan approved but delayed settlement

Discussion in 'Loans & Mortgage Brokers' started by OKL, 6th Oct, 2019.

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  1. OKL

    OKL New Member

    Joined:
    1st Jul, 2019
    Posts:
    2
    Location:
    Rhodes
    I have got unconditional home loan approval for an off the plan apartment from NAB bank. I have accepted and signed the loan document in Aug. According to the loan document, the last day of borrowing is 1 Nov. However, I have not been informed from the vendor about the exact date of settlement yet. My solicitor told me that the vendor has already lodged the strata plan registration. However, if the apartment can not be settled this month, what should I do? Will I need to re-do the home loan approval again?
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
    Posts:
    41,675
    Location:
    Australia wide
    Extend it
     
  3. OKL

    OKL New Member

    Joined:
    1st Jul, 2019
    Posts:
    2
    Location:
    Rhodes
    How to extend it ? And how long it takes to apply for extending it? Thanks
     
  4. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

    Joined:
    31st May, 2016
    Posts:
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    Location:
    Australia
    Talk to your banker or broker
     
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