Exclusive: bank turns down owners’ application for $500,000 bridging loan on grounds that Queensland property has four coal seam gas wells on it
Australia’s biggest mortgage provider has declared a Queensland property with coal seam gas wells “unacceptable” as security for residential lending, raising fresh concerns that people living in the state’s gasfields may be unable to sell their homes.
But Queensland Gas Company (QGC), which owns the wells on the Chinchilla acreage, has insisted that no properties that host its infrastructure have had their values negatively affected.
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Source: Guardian Environment