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Bank Loans Top Up

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Bank valuations are dropping and changing every month. Out of curiousity, anyone been asked by banks to top up the difference despite having good repayment/credit records?

 

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Bank valuations are dropping and changing every month. Out of curiousity, anyone been asked by banks to top up the difference despite having good repayment/credit records?

Yes. My colleague was asked to top up his property along Grange Road earlier this year when it fell by >30%. He has 2 properties, and the one targetted was the one listed as investment property (non-owner occupied) to the bank.

This is interesting. But anyway, I own 2 properties myself and so far has never been asked to do a top up. But then again, my properties did not correct by more than 5% against their market values.

Currently eyeing a landed property. And landed owners here? Need some help.

 

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