M
mpeace
Guest
VICTORIA - AUSTRALIA
We recently refinanced 2 properties to purchase a 3rd property. This involved a new lender as our previous lender declined to finance on our terms.
About a month after settlement we were approached by the bank who released the 2 mortgages, to pay them the balance outstanding on one of the mortgages. As we were not actually at settlement, we had a conveyancer act on our behalf, we presumed that all details etc. were correct and that settlement would not have happened if this was not so.
Nearly at the same time the bank closed our business overdraft facility and sent all of our other business debt info to another area.
We contacted the Banking Ombudsman who inturn went back to the first lender, who again have contacted us demanding these funds.
Out of settlement funds the first lender was given a considerable amount of money, our business chewed into most of the rest.
Any advice on where we stand would be greatly appreciated
Thankyou.
[This message has been edited by mpeace (edited May 05, 2000).]
We recently refinanced 2 properties to purchase a 3rd property. This involved a new lender as our previous lender declined to finance on our terms.
About a month after settlement we were approached by the bank who released the 2 mortgages, to pay them the balance outstanding on one of the mortgages. As we were not actually at settlement, we had a conveyancer act on our behalf, we presumed that all details etc. were correct and that settlement would not have happened if this was not so.
Nearly at the same time the bank closed our business overdraft facility and sent all of our other business debt info to another area.
We contacted the Banking Ombudsman who inturn went back to the first lender, who again have contacted us demanding these funds.
Out of settlement funds the first lender was given a considerable amount of money, our business chewed into most of the rest.
Any advice on where we stand would be greatly appreciated
Thankyou.
[This message has been edited by mpeace (edited May 05, 2000).]