- By admin
- In Bee Savvy - Getting the most out of your loan, Home sweet home - first home owner finance, Tricks of the trade - how banks fool borrowers
Customers are frequently shocked when they find that their bank will not advance them cash out of their very own property – or that they have stringent rules that govern this. There can be differences depending on your current and requested loan to value percentage as well as what you advise the purpose of the cash will be, as well as the amount that you are requesting.
In one instance, a well known financial institution will insist on managing disbursement of funds, when you require over $100,000 for renovations.
Which can be very frustrating for DIY renovators, whom often have little option but to pay third parties to complete the job, thus reducing your flexibility in planning and performing your renovation.
Meanwhile, other financial institutions won’t be as stern.
It also rings true where you are wanting to consolidate your unsecured debts. Most financial institutions have concrete criteria regarding the number of debts which you can combine with your home loan.
At Bee Finance Savvy, we keep up to date with all of our lender policies so that we can match you with a financial institution whom suit your cash out needs.
Contact us on 1300 140 554 or email@example.com .
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