END OF THEIR TETHER: Christine and Chris Winch have been trying to sell their home but it is considered high risk.
END OF THEIR TETHER: Christine and Chris Winch have been trying to sell their home but it is considered high risk. Rob Williams

Couple left high and dry over house sale

AN ANGRY and frustrated couple say they can't sell their house because banks consider it high risk due to being in a flood-prone area.

They said their Riverview home had only minor flooding in 2011 but are being punished because neighbouring homes were inundated.

Christine and Chris Winch have a prospective buyer but banks will not loan him money without a 20% deposit.

They want to move into a new home but are facing the prospect of being stuck with a house they can't sell and can't keep.

Having used up their money building a house boat on the Gold Coast, they have no way to keep paying the mortgage on their old home.

"We put the house on the market in October 2010 and we got flooded in January 2011 but we only had about a foot and a-half through the first floor," Mrs Winch said.

"We've had quite a lot of interest in the house and it wasn't until we got a contract on it last December that we found out there was going to be an issue with the floods.

"A gentleman has been trying to get finance for it since February and every bank he's gone to said the same thing - we are now classified as a high risk.

"We got a stay on our mortgage from the Commonwealth Bank but that ends on September 12.

"I rang Paul Pisasale and begged him to help us because no-one else would."

The mayor said he would support the Winchs and others he felt were being badly treated by banks.

"First we had the insurance companies that wanted to rip people off; now banks are not lending people money because of their post code. It's hurting people's lives," he said.

A Commonwealth Bank spokesman said the bank didn't have a lending policy based on streets or areas.

"We do not have a blanket policy on lending in terms of a post code or area," the spokesman said.

"But in terms of the LMI (Lenders Mortgage Insurance) they would need a sufficient deposit to satisfy the conditions.

"We have been in contact with the Winchs over a number of months in relation to their predicament and would be happy to continue that."



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