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My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.
You cannot settle without the caveat being withdrawn. Your only option is to have the money set aside in a trust account and then negotiate with the party that you owe the money to.
If you wish to challenge the interest rate you will have to sue them.
If it is a bank you can go to the ombudsman. if it is a private lender then you have to sue in court.
But unless the caveat is withdrawn on settlement your purchaser will not have to settle.
I hope this makes sense and is of assistance and makes sense?