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Thanks Tom. Our borrowing capacity is good and both are in settled jobs and our…
You did well there thanks to the rising market. Obviously your land increased by…
Yes. Any new valuation going forward will be determined by current land value plus…
This is why I don't understand. I understand what you're saying about the current…
When you say HL package, is it two separate contracts for land and construction,…
My understanding is that the building contract needs to be entered into prior to…
Thanks everyone. I found it very useful.
Great to hear it got sorted! Cheers, Tom
We have been in a similar but slightly different situation twice. We've had loans…
If you qualify for FHOG then yes you should get your bank to apply for the FHO rate…
Congratulations ... and commiserations. I'm glad you worked it out before you bought…
Erm, that’s not Aussie, are you looking in Australia?
If you are comfortable with the repayments holding both properties for that temporary…
As Bec says yes it is. What Macquarie charge is really on the high side compared…
Just to add to Bec's post, you need to take into account the possibility of a valuation…
In one 1 star complaint with a builder on productreview.com.au, that user did not…
As Bec said, you can basically do what you want whether its go direct with a bank…
that is the land I was planed to buy last year, I did some research, since the north…
Excellent, thanks for the information. Very helpful!
Think they are getting confused-broker and developer, as a normal requirement for…
Even BOM (or St George to rest of the country) do it as well. Servicing on end…
Hi all, yeah. It was the FHOG.... All sorted. Apparently the builder got all the…
Ok thanks, seems a little crazy to me. Hate having to pay LMI on a loan I can easily…
As Bec says, only you can make the call. Its a lifestyle decision. Just make sure…
I would advise to only take financial advice from someone who is licensed. I'd be…
Hi! Link , By definition, stamp duty is a tax which must be paid on property purchases…
You might probably know that, loan repayments are also interest only during the…
As Bec mentioned, rent won't be needed to be taken into account if you are constructing…
Oh, I didn't realise that you went with a broker. The way you were saying that you…
Yep msalmank, have to agree with Bec. Go with whoever you feel comfortable with.…
There are some lenders that will allow you to construct your property and drawdown…
Hi Anjan, Bec mentions a partially built home? Was it started by one builder and…
It's good to hear you made allowances during the construction phase with continued…
Thanks Tej, Tom and Bec...your inputs have created good awareness on fixing rate…
Thanks for the answers.
In terms of a loan, everything is taken into account. So the liabilities of the…
Unfortunately no lender out there will allow that. Basically anyone on title needs…
Hi RachM, In that case still eligible for FHOG. Don't understand why the broker…
Hi can you tell how much your total income at that time ? So you borrow up to 90…
Yes get quotes, these can be done from the plans is quite normal and no lenders…
Generally any additions after a loan has been approved need to be paid out of your…
Hi Firstbuild, Just from my experience... you can use the land (just the $ you contributed…
I have a client in a similar situation. We worked with them and their accountant…
Great to hear - I bet you don't look back!
No problems. Glad to be of service. Hopefully it works out for your friend. Cheers…
Just to add to what Bec said, you mentioned that you were pre-approved? In that…
Wow Gemma, at least it got thru in the end. Usually its like baseball, 3 strikes…
Loan lending criteria is always a changing marketplace as different lenders position…
NO NO NO RUN AWAY In short they are lending similar to RAMS 1.0 (90 day BB) did (…
