Woman who lost ‘dream home’ after Commonwealth Bank error missed final payment reveals health battle

A Queensland tenant who missed the payment deadline for her ‘dream home’ by just minutes has been dealt another blow in a years-long battle with her landlord as she reveals the legal stoush has had a ‘catastrophic’ impact on her health .

dr. Loretta McKinnon, 44, was told last week that her latest legal claim on the home in inner north Brisbane will be challenged by the seller, who is also her landlord, in the Queensland Supreme Court.

The message comes a year after Dr. McKinnon first tried to buy the Windsor home she currently rents after making a $580,000 bid at an auction in September.

However, her dreams of acquiring the property collapsed after her lender, the Commonwealth Bank, revealed that a simple ‘human error’ delayed her payment on time before the deadline by just 13 minutes.

The seller ended the deal and pocketed her $29,000 down payment, making the aspiring homeowner pay both her rent and the loans she took out to buy it.

Her settlement fell through because Commonwealth Bank was late in transferring money to the seller, the seller kept her down payment and the house in Windsor (pictured above)

Now Dr. McKinnon has been notified of a legal challenge over a caveat she filed after the deal failed, which prevented the seller from selling the home.

The landlord’s lawyers last week informed the epidemiologist that they would refute the caveat protecting her rights as an interested buyer.

She said the rising interest rates are biting her ankles as she was unable to move out of the house or switch from Commonwealth Bank.

The three-bedroom, one-bathroom house in Brisbane’s leafy suburb of Windsor was set to settle in September last year.

Incredibly, the 13-minute delay that cost Dr. McKinnon her “dream home” was caused by a bank employee checking a wrong box on official records.

Dr McKinnon (above) has since received a letter informing her that the seller, who is also her landlord, is challenging a reservation protecting her interests as the next buyer of the home.

Dr McKinnon told: news.com.au the years of struggle has had a ‘catastrophic impact on (her) health’ and that she feels ‘prisoned’ by her bank.

“The fact that it’s been 12 months and I don’t even have the deposit back… it’s terrible,” she said. My interest continues to rise. I can’t stay here, I can’t move, I can’t switch banks.’

CBA reportedly offered the seller $700,000 to buy Dr. McKinnon, which is $120,000 more than the auction price.

It is clear that the seller has not accepted the offer.

CBA initially offered Dr McKinnon $10,000 in compensation and the cost of her legal fees which have cost her approximately $30,000 to date.

dr. McKinnon has been in a protracted legal standoff with Commonwealth Bank and its landlord and seller over the past year (pictured, a sign outside her ‘dream home’)

A spokeswoman for the CBA said the bank was “connected with Dr. McKinnon, both through her attorneys and directly, to resolve her complaint and assist with the purchase of another property.”

“In addition, we are negotiating with the seller’s attorney to try and facilitate the sale. Unfortunately this didn’t work out.’

Queensland does not have the same two week grace period for property settlements that most Australian states do.

Since then, a rule has been introduced that allows a five-day delay on payment terms for buyers and sellers, without the approval of the counterparty.