DISASTER!

We have just receievd a phone call from NAB - they are not going to give us finance!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I am really upset - Chris is much more prosasic about it but i am a mixture of upset and anger. Apparently, despite all the assurances given to us over the last 3 weeks PLUS the amazing amount of documentation we have given them, since we will be committing 50% of our salaries to all our mortgages they won't do it. Hellooo!!! How many people living in Sydney committ less than 50%???? In addition, of course we have committed that much right now since we need to continue to live in our current house until the new house is build - ie two mtgs going at once. We will of course sell the current place when the new one is done but in the meantime we need somewhere to live. But they won't take that into account....

On a happier note, Council rang today and said that the DA should be approved by next Tuesday which is great except we may not have any money to build the damn thing!!

We are going to call westpac - all our investment loans are with them so they may be interested. The banker said to me "12mths ago we wouldn't have had this conversation". Which annoys me somewhat as our personal circumstances have not changed - in fact, they have got better! I understand tightening lending criteria for people with no deposit or other assets, low paying jobs or jobs that are not secure but we are pretty much model applicants (which he agreed with).

Not happy at all!!