Refinancing a home loan where the property is a unit title (body corp)

[jc_sbc_12]

Hi,

We are refinancing a property which is under a unit title (body corp).

Do you know if the bank will require a PSDS (Pre Settlement Disclosure Statement)?

From my understanding its only if you are selling the unit.

Any idea if its refinancing?

Thank you

[eri]

surely the bank would know?

clearly me saying

10 years ago a minor bank

said it was ok in my particular circumstances

under the law at that time

is meaningless

..

this is property

get it right and you are set for life

get it wrong and you are screwed for same

if it were easy

everyone would be doing it...

[jc_sbc_12]

Hi Eri,

As per the broker, the new bank is not requiring it.

Our solicitor for refinance informed us that its suddenly needed when we informed them 2 weeks before settlement that the house is under body corp.

[eri]

yeah, i hate that too

when various professionals can't give you consistent advice

so ask the people who know

the bank

or rely on a defence of plausible deniability