Banks!
Our little dream house was about to slip through our fingers. We had a call from our broker saying that we were rejected for our mortgage as our property was situated past the rural residential zoning boundary. We needed to come up with another 8-9% deposit for the LMI. I wish our broker had told us about this earlier. We did ask about the properties location and would it make it harder for us to obtain finance and were told that there was no postcode restriction.
I was not about to start taking no for an answer. I researched and read a lot about what we planned on doing. We rang our bank 3 times and each time were told a different answer. I was sick of it! I finally rang the branch closet to our property in Port Pirie. I spoke to a lovely lady there who could not see why we couldn't get it. She arranged an interview with us for last Thursday as we were travelling for a wedding and could stop in for the appointment. After some time with the lender we walked out with approval!!! We can get it! What we want to do was taken into consideration and because we don't plan on sourcing our main income from the property they approved it. It was hard, and a lot of leg work to get it sorted, but it's ours.
We are very lucky to be buying from a lovely couple who can see we really want the farm and are doing everything within our power to get it. They have extended our contract and we will sign a new copy very shortly.
So the last few weeks have been very busy. With the loan and a wedding and now Christmas it's been just crazy around here. Oh and school holidays have just started.
Here is a couple of pictures from the most gorgeous wedding and a view from the end of the road near our farm.
I was not about to start taking no for an answer. I researched and read a lot about what we planned on doing. We rang our bank 3 times and each time were told a different answer. I was sick of it! I finally rang the branch closet to our property in Port Pirie. I spoke to a lovely lady there who could not see why we couldn't get it. She arranged an interview with us for last Thursday as we were travelling for a wedding and could stop in for the appointment. After some time with the lender we walked out with approval!!! We can get it! What we want to do was taken into consideration and because we don't plan on sourcing our main income from the property they approved it. It was hard, and a lot of leg work to get it sorted, but it's ours.
We are very lucky to be buying from a lovely couple who can see we really want the farm and are doing everything within our power to get it. They have extended our contract and we will sign a new copy very shortly.
So the last few weeks have been very busy. With the loan and a wedding and now Christmas it's been just crazy around here. Oh and school holidays have just started.
Here is a couple of pictures from the most gorgeous wedding and a view from the end of the road near our farm.
Congratulations on getting the loan ( eventually)! It can be so frustrating dealing with banks. We have just bought too, and will be moving around on 13th January. I am looking forward to finally being able to establish my "forever" garden, with fruit trees, lots of vegetable beds and herbs. Good luck with your move.....
ReplyDeleteOh how exciting...Congratulations on your new home. I cannot wait to get on our farm. I hope we find another quickly! All the best for the big move!
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