Yes the mortgage broker was a related company to the property. I know I have been scammed but it is very hard to prove anything.
I am going to file a complaint with the Credit Ombudsman but think it will be too late in relation to stopping the purchase of the house.
The valuation came from a financial institution, but it was done through a mortgage broker. It was all done so backhandedly. The mortgage broker company assisted me in setting up everything in my SMSF, but the amount I could borrow came in a lot less due to the valuation. The first I knew was when a solicitor contacted me and the settlement…[Read more]
I have recently setup a SMSF and I am purchasing a property in it. However, the valuation came in a lot lower and so I did not get the requested loan amount. To go ahead with the purchase it would mean a bigger deposit as I am borrowing less. However, this goes against my investment strategy. It would mean 90% invested in property, a very…[Read more]