Wow. We've been riding a rollercoaster of emotions the past week.
The excitement of finding the house, getting our offer accepting and making future plans, tempered with the knock-back we got on Wednesday. It seems the mortgage lender's insurer doesnt like Fruitbowl, or any of the suburbs we could afford due to people defaulting in that area. (Um, thats why we could afford a house there!).
Plan B - The race around to try and find another lender as the contracts are already at the exchangers - and we really want the house. Our broker thought that a bank would be OK with Fruitbowl as they have an in-house insurer and go more on whether you can afford the loan than what area.
Finally, making a Plan C. Asking my parents for help to make up at 20% deposit (thats over $70,000 - we already had most of it) so we dont need the insurance.
Spoke to the broker again today, so if the Bank does say no we can go back to our first choice of lender and they will finance us with the 20%.
So the house is a definate (as long as the contracts have finally been exchanged!)