URGENT: CBA approvals for Upper Coomera Post Code 4209

Discussion in 'Loans & Mortgage Brokers' started by J&E, 25th Jan, 2017.

Join Australia's most dynamic and respected property investment community
Tags:
  1. J&E

    J&E Active Member

    Joined:
    15th Dec, 2016
    Posts:
    27
    Location:
    Sydney
    Hi,

    Has anyone ever been approved of a CBA loan for post code 4209 Upper Coomera?

    I got rejected not due to finance but because of the suburb.

    Any one please come back to me ASAP as I only got till Friday COB to get the approval with my financier.
     
    J&E, 25th Jan, 2017
    #1
  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    **Actually edit that - CBA have actually started to reject that postcode, you're right. All very under the table, they haven't actually told brokers that they're doing that.

    You will have to get a finance extension most likely - let the seller know it's a postcode thing. @J&E
     
    Last edited: 25th Jan, 2017
    Jess Peletier, 25th Jan, 2017
    #2
  3. J&E

    J&E Active Member

    Joined:
    15th Dec, 2016
    Posts:
    27
    Location:
    Sydney
    Do you know if its just CBA or others also?
     
    J&E, 25th Jan, 2017
    #3
  4. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    CBA have scratched it (likely to affect subsidiaries) but not other lenders :)
     
    Steven Ryan, 25th Jan, 2017
    #4
  5. beachgurl

    beachgurl Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,320
    Location:
    Sydney
    I wrote one with Westpac recently in that suburb.
     
    beachgurl, 25th Jan, 2017
    #5
  6. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    Most other lenders should be fine - get your broker to confirm before submission.
     
    Jess Peletier, 25th Jan, 2017
    #6
  7. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,652
    Location:
    Gold Coast (Australia Wide)
    the burb and PC is fine, most other lenders and LMI will be ok

    CBA have too much exposure there and dont want any more

    No diff for example than WBC security register where they wont take any more unit stock in places where they have too much - except wbc are up front about it

    ta
    rolf
     
    Rolf Latham, 26th Jan, 2017
    #7
    Jess Peletier likes this.
Free Property Depreciation Calculator

Property Investors! Ready to Pay Less Tax? Estimate how much Property Depreciation you can claim on your Investment Property. Washington Brown's calculator is the first calculator to draw on real properties to determine an accurate estimate.