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Last Post
JAMBY
JAMBY
2 January

FHOB - Newbie nerves

FHOB - Newbie nerves

You should be fine. They mostly care about income, savings and debts and you can tick all three boxes. I know when we were in a similar financial situation and went for a…

1
441
JAMBY
Jan 02, 2018 1:29 am
JAMBY
becjarrettdalton
becjarrettdalton
15 December 2017

Finance different trades in custom build

Finance different trades in custom build

Perfect, that’s a great idea. Lock down exactly what you want, visit the suppliers they use & make your selections as early as possible.

3
317
becjarrettdalton
Dec 15, 2017 11:16 pm
becjarrettdalton
lychee
lychee
15 December 2017

Architect/Designer fees

Architect/Designer fees

Apologies if I have missed it, but anyone let me know from recent experience whether one can somehow include architect/design fees in the construction loan. I have found…

0
76
lychee
Dec 15, 2017 11:16 pm
rakshu_n_ranch
rakshu_n_ranch
20 November 2017

Land evaluation in Highbrook Precint, Gateway Estate

Land evaluation in Highbrook Precint, Gateway Estate

Hi, I picked up a stage 15 lot at this estate. What has the bank evaluation been on lots around this estate? Has there been huge shortfalls or has the land value…

0
261
rakshu_n_ranch
Nov 20, 2017 3:58 pm
dream2017
dream2017
12 November 2017

Is booking a land and on-sale later a good strategy?

Is booking a land and on-sale later a good strategy?

Hi Sorry, was out of touch a bit and late in response. Yeah you are right. It would be a bit of gambling on the return, I agree. Thanks for the input. It helped.

5
385
dream2017
Nov 12, 2017 9:45 pm
becjarrettdalton
becjarrettdalton
8 November 2017

Interest Only Payments end after construction?

Interest Only Payments end after construction?

You know you're allowed to pay extra, and any extra you pay comes off principal...if that helps. If you're wanting to start sooner

5
354
becjarrettdalton
Nov 08, 2017 5:00 am
becjarrettdalton
michae
michae
19 October 2017

Second Mortgage

Second Mortgage

Hi Many mortgage lenders are reducing the availability of second mortgage programs as the secondary…

1
305
michae
Oct 19, 2017 10:50 pm
michae
michae
michae
19 October 2017

First home - How much do I need to save?

First home - How much do I need to save?

Great Job! you are one step ahead for people…

17
4377
michae
Oct 19, 2017 10:27 pm
michae
michae
michae
15 October 2017

Finance not approved - preliminary deposit

Finance not approved - preliminary deposit

I agree with @lovisa . It will also depends on the time gap between the…

2
673
michae
Oct 15, 2017 5:10 am
michae
michae
michae
13 October 2017

dreaming?

dreaming?

Before you look for mortage broker, you should consider these: First, talk with someone who have already done this and gain some tips from them. Second, discuss this…

3
606
michae
Oct 13, 2017 8:49 am
michae
becjarrettdalton
becjarrettdalton
12 October 2017

Construction Loan for off-grid house

Construction Loan for off-grid house

So the technical response is 2wd access... up to the valuer to determine that. Again, if the sewer system is in the contract and meets code it should be fine - that in…

3
281
becjarrettdalton
Oct 12, 2017 3:54 pm
becjarrettdalton
poida
poida
7 October 2017

First home buyer- over committing on finance?

First home buyer- over committing on finance?

I would advise to only take financial advice from someone who is licensed. I'd be surprised if the people commenting are qualified to provide advice.

10
722
poida
Oct 07, 2017 9:27 pm
michae
michae
6 October 2017

First Home Buyers - Stamp Duty

First Home Buyers - Stamp Duty

Hi! , By definition, stamp duty is a tax which must be paid on…

7
690
michae
Oct 06, 2017 9:06 pm
michae
michae
michae
6 October 2017

Construction loan repayments

Construction loan repayments

You might probably know that, loan repayments are also interest only during the construction period, providing comfort and security to renovators and home builders by…

6
798
michae
Oct 06, 2017 8:32 pm
michae
michae
michae
28 September 2017

Land and Construction Loan

Land and Construction Loan

Well, Buying land & building a new home can be an exciting experience. And if you plan to get financing you need to understand…

4
733
michae
Sep 28, 2017 6:26 pm
michae
plc
plc
29 August 2017

Land loan

Land loan

As Bec mentioned, rent won't be needed to be taken into account if you are constructing for your owner occupied residence. The land loan regardless of whether it's left…

7
602
plc
Aug 29, 2017 1:58 pm
plc
plc
27 July 2017

Bank Loan - shortfall

Bank Loan - shortfall

Oh, I didn't realise that you went with a broker. The way you were saying that you were calling a bank direct is something that a broker would do on your behalf. So sorry…

7
721
plc
Jul 27, 2017 10:45 pm
plc
plc
24 July 2017

Finance - External Broker vs. In-house Broker?

Finance - External Broker vs. In-house Broker?

Yep msalmank, have to agree with Bec. Go with whoever you feel comfortable with. Having everything done in house might seem easier, however you need to realise that there…

5
416
plc
Jul 25, 2017 12:59 am
wongbruce
wongbruce
12 July 2017

Financing additional items after handover...

Financing additional items after handover...

Usually once the house is built so long as the value of the property has increased you should be able to top up your loan. Ensure you don't exceed the 80% lending ratio or…

4
564
wongbruce
Jul 12, 2017 10:46 pm
plc
plc
10 July 2017

Time Frame of when to apply for construction loan?

Time Frame of when to apply for construction loan?

There are some lenders that will allow you to construct your property and drawdown a loan up to a year after land settlement. So if you have all the drawings, contracts,…

2
471
plc
Jul 10, 2017 3:51 pm
plc
plc
3 July 2017

Henley home, partially built- not Advice

Henley home, partially built- not Advice

Hi Anjan, Bec mentions a partially built home? Was it started by one builder and now you are looking at another to finish it off with a different one? Anyhow, she is…

6
562
plc
Jul 03, 2017 11:22 am
plc
plc
16 June 2017

Conditional approval subject to valuation

Conditional approval subject to valuation

It's good to hear you made allowances during the construction phase with continued rent, a lot of people dont do that. If you're eligible for FHOG, then that's some…

7
903
plc
Jun 16, 2017 2:01 pm
shon-aa
shon-aa
14 June 2017

Building with New Living Homes

Building with New Living Homes

Thought so! Thanks for the info :)

18
2248
shon-aa
Jun 14, 2017 2:11 pm
preeeth
preeeth
7 June 2017

Home loan interest rate bottomed out in Australia?

Home loan interest rate bottomed out in Australia?

Thanks Tej, Tom and Bec...your inputs have created good awareness on fixing rate, with this I will be able to assess my situation and make wise decision on interest rates 😄

6
701
preeeth
Jun 07, 2017 8:19 pm
preeeth
becjarrettdalton
becjarrettdalton
5 June 2017

House and Land Package Finance - Nervous First Home Buyers

House and Land Package Finance - Nervous First Home Buyers

HI Caydenn, I haven't run the numbers on affordability as thats a much bigger conversation. Your broker has the full story so I would trust them. As mentioned above, the…

3
628
becjarrettdalton
Jun 05, 2017 3:35 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
5 June 2017

Renovation loan help >_<

Renovation loan help >_<

Huh? Thats really strange, did you issue documents and sign and return them? If so, I think whats probably more the case is they make you use all your money first before…

1
271
becjarrettdalton
Jun 05, 2017 12:16 pm
becjarrettdalton
Slugcatcher
Slugcatcher
26 May 2017

Construction loans

Construction loans

Thanks for the answers.

3
620
Slugcatcher
May 26, 2017 10:32 am
plc
plc
25 May 2017

Vacant land loan chances?

Vacant land loan chances?

In terms of a loan, everything is taken into account. So the liabilities of the car loans and the credit cards will be looked at as part of the scorecard that most lenders…

2
503
plc
May 25, 2017 11:59 pm
becjarrettdalton
becjarrettdalton
18 May 2017

Construction loan question

Construction loan question

Sorry - this only just came through. It's up to the valuer and the way the contract is worded - if the valuer thinks what is in the contract is ok, or if there's enough…

5
663
becjarrettdalton
May 18, 2017 4:06 pm
becjarrettdalton
plc
plc
16 May 2017

SPLIT LOANS

SPLIT LOANS

Unfortunately no lender out there will allow that. Basically anyone on title needs to be on the loan in some fashion, whether as borrower or guarantor. I don't know if…

1
355
plc
May 16, 2017 4:20 pm
plc
plc
15 May 2017

Parent Security and FHOG - Qld

Parent Security and FHOG - Qld

Hi RachM, In that case still eligible for FHOG. Don't understand why the broker is asking for a stat dec from them though, I would have thought that the guarantors would…

3
371
plc
May 15, 2017 1:59 pm

10% deposit & clear debts VS 17% deposit with debts for land

10% deposit & clear debts VS 17% deposit with debts for land

It actually comes back to income & timing for your build & what you might need to hold back for finishing items on the home (landscaping etc) - yes it won't affect LMI…

4
619
becjarrettdalton
May 05, 2017 10:17 am
becjarrettdalton
Berek
Berek
26 April 2017

Wanting to buy but.....

Wanting to buy but.....

Talk to a broker from one of the chains. They'd know better than most.

1
465
Berek
Apr 26, 2017 10:29 pm
becjarrettdalton
becjarrettdalton
9 April 2017

Build Loan

Build Loan

HI Candice, depending on how much you're borrowing and how much deposit you have there are construction loans from high 3's to mid 4% range. For example I have lots of…

1
576
becjarrettdalton
Apr 09, 2017 3:28 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
2 April 2017

Westpac Home Loan - Draw Down process

Westpac Home Loan - Draw Down process

Definitely sign the invoice (when you're satisfied the work is done) and write "please pay" or something like that, add the form Westpac sent you in the beginning for that…

7
743
becjarrettdalton
Apr 02, 2017 7:13 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
2 April 2017

Mortgage / Title questions

Mortgage / Title questions

Commbank are notoriously slow for registration which explains the delay & those look like normal registration fees, I am more convinced its transfer duty but only your…

3
447
becjarrettdalton
Apr 02, 2017 7:08 pm
becjarrettdalton
SaberX
SaberX
19 March 2017

Interest rate of 4.39%

Interest rate of 4.39%
1, 2

Investor or owner occupied. As many mortgage brokers will say rate isnt priority compared to product if your an investor. If this is one house for life then cheapest rate…

22
1746
SaberX
Mar 19, 2017 11:20 pm
kiriray
kiriray
16 March 2017

Home Valuation Trouble - New Construction

Home Valuation Trouble - New Construction

That's great news! Shame about the savings but once your place is built and you're in you can scrimp and save for a bit to catch up. We're using an architect and it's…

6
1706
kiriray
Mar 16, 2017 9:01 pm
Berek
Berek
14 March 2017

GST and CGT on investment property

GST and CGT on investment property

CGT exemption is only for your principal place of residence. You can't claim a gst exemption either unless you sell it to someone who will pay the gst on top of the costs.…

2
514
Berek
Mar 14, 2017 8:19 pm
becjarrettdalton
becjarrettdalton
12 March 2017

Refinance or stick with existing bank - reno advice?

Refinance or stick with existing bank - reno advice?

The question comes down to two points - serviceability, can you afford the loan - and that's a huge conversation And secondly, does the loan still suit you. From that…

1
434
becjarrettdalton
Mar 12, 2017 5:14 pm
becjarrettdalton
vincent.ausahi
vincent.ausahi
8 March 2017

Can visa 457 borrow up to 95% of the property prices?

Can visa 457 borrow up to 95% of the property prices?

Hi can you tell how much your total income at that time ? So you borrow up to 90%? Any other requirements?

6
2163
vincent.ausahi
Mar 08, 2017 12:04 am
becjarrettdalton
becjarrettdalton
15 February 2017

Bank Valuation Questions

Bank Valuation Questions

Yes get quotes, these can be done from the plans & is quite normal and no lenders don't tie you to them. Alternatively you can have the builder include them in the…

8
1769
becjarrettdalton
Feb 15, 2017 11:31 am
becjarrettdalton
plc
plc
14 February 2017

Adding in items after loan approval

Adding in items after loan approval

Generally any additions after a loan has been approved need to be paid out of your pocket. If you do want to add it into the contract as a post contract variation to…

2
830
plc
Feb 14, 2017 12:32 am
RegVic
RegVic
13 February 2017

Using Land as a 'deposit' on building loan?

Using Land as a 'deposit' on building loan?

Hi Firstbuild, Just from my experience... you can use the land (just the $ you contributed) as the deposit... There is a waiting period... in my case, the land value was…

5
1251
RegVic
Feb 13, 2017 4:25 pm
RegVic
aloenyx
aloenyx
4 February 2017

Interest Only payments during construction: Why?

Interest Only payments during construction: Why?

I was recommended interest only during the building phase.. and made sense as I need every penny to pay rent and after build costs. Once my final construction payment is…

6
1522
aloenyx
Feb 04, 2017 8:50 pm
aloenyx
wongbruce
wongbruce
3 February 2017

Paying Deposit

Paying Deposit

As a solicitor I can advise you of the following: For land - Yes we always try to negotiate a 5% deposit. For builders contract - 5% of usually the amount that…

3
958
wongbruce
Feb 03, 2017 12:21 am
wongbruce
wongbruce
1 February 2017

Application Enquiry

Application Enquiry

As a Solicitor, I have had no problems at my end for my own clients. My clients loans were all approved within 1-1.5 weeks. If you do it directly with the banks that is.…

4
797
wongbruce
Feb 01, 2017 2:09 pm


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