Posts by plc • Home Renovation & Building Forum

plc

Niddrie VIC

Joined 22 June 2012

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plc

24 June 2012

Re: First home buyers questionHome Finance

Jun 24, 2012 1:46 am

Firstly, stamp duty will be calculated on the land price only ($310,000), as that is the value of the property when the transfer takes place. Secondly any concession depends on what state you reside in. In NSW I think they have full exemption for land up to $300K, after that there is a concession. I...

Firstly, stamp duty will be calculated on the land price only ($310,000), as that is the value of the property when the ...

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plc

24 June 2012

Re: Bank evaluation problems? Anyone has been under-evaluateHome Finance

Jun 24, 2012 12:24 am

I'd try another bank. Each check is recorded on your financial record though, if they are taking your details to provide a quote... Do banks charge any fees if they don't approve the loan or if the valuation is low and you decide de not to borrow from them? It all depends on the lender and product....

Do banks charge any fees if they don't approve the loan or if the valuation is low and you decide de not to borrow from...

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plc

22 June 2012

Re: Current loan questionHome Finance

Jun 22, 2012 12:02 pm

I'm ANZ with two houses, have approximate 550k loan on both and asked for 1% discount in January they accepted my p&i variable loan rate is now at 5.8% Just ask it can't hurt Great deal you got there. Took advantage as ANZ had some nice discounts on their Pro Pack early this year, they have sca...

Great deal you got there. Took advantage as ANZ had some nice discounts on their Pro Pack early this year, they have sc...

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plc

22 June 2012

Re: Bank evaluation problems? Anyone has been under-evaluateHome Finance

Jun 22, 2012 2:09 am

thanks jpc, i've asked my builder to provide near buy sale prices coz all the lands in our estate are the same size and price, hopefully the bank would consider it. but meanwhile i'll just get my broker to try other banks~~~the most frustrating bit is the waiting bit, banks are slow as ...... gud l...

mimiluvuu, did you have a finance clause in your contract in case this situation arose? Just thinking worst case scenar...

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plc

22 June 2012

Re: Current loan questionHome Finance

Jun 22, 2012 1:57 am

Hi Westpac is the most expensive lender for most people even with their standard package discount of 0.70% At the moment you should be aiming to get a variable interest rate of at least 6% or less. Yep, out of the big 4, Westpac's Pro Pack has the relatively highest base interest rate. Lot's of len...

Yep, out of the big 4, Westpac's Pro Pack has the relatively highest base interest rate. Lot's of lenders out there out...

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plc

22 June 2012

Re: 'subject to finance' clauses and OTP contractsHome Finance

Jun 22, 2012 1:34 am

There's generally phases with them - for example, mine was subject to finance for the first 30 days, and the unconditional at which time there was a 90 day settlement (for the land). That's correct. There is a short initial time period attached to the subject to finance clause, or at least should b...

That's correct. There is a short initial time period attached to the subject to finance clause, or at least should be. ...

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plc

22 June 2012

Re: Home and Contents insurance for a unit with a body corp.Home Finance

Jun 22, 2012 1:09 am

Hi pj. Yes this is quite normal. The cost of the building insurance is covered within the body corporate fees so you only need to organize contents insurance. Yep, correct. This is also what you provide to the lender when they ask for a copy of the building insurance.

Yep, correct. This is also what you provide to the lender when they ask for a copy of the building insurance.