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Last Post
plc
plc
29 August

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
315
plc
Aug 29, 2017 12:58 pm
wongbruce
wongbruce
19 August

Construction loan repayments

Construction loan repayments

This should be in your building contract which shows the stages and progress payments as they fall due. Kind Regards, Bruce "Building an Eden Brae Waldorf 50 in North…

2
267
wongbruce
Aug 19, 2017 10:46 am
Zak Avery
Zak Avery
9 August

dreaming?

dreaming?

I agree with Bec. You should go speak with a good Mortgage Broker. The online calculators should be used as a rough guide only - and you will…

2
306
Zak Avery
Aug 09, 2017 2:21 pm
lovisa
lovisa
30 July

Finance not approved - preliminary deposit

Finance not approved - preliminary deposit

You should have copies send out to you as they progress. But ultimately depends on the contract what was stated

1
298
lovisa
Jul 30, 2017 5:57 pm
plc
plc
27 July

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
425
plc
Jul 27, 2017 9:45 pm
plc
plc
24 July

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
212
plc
Jul 24, 2017 11:59 pm
wongbruce
wongbruce
12 July

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
330
wongbruce
Jul 12, 2017 9:46 pm
icat2000
icat2000
10 July

First Home Buyers - Stamp Duty

First Home Buyers - Stamp Duty

I think so. Well that's what the lady at sro said. I know for sure when my land settles. Haha

5
285
icat2000
Jul 10, 2017 8:35 pm
icat2000
plc
plc
10 July

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
277
plc
Jul 10, 2017 2:51 pm
plc
plc
3 July

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
320
plc
Jul 03, 2017 10:22 am
plc
plc
16 June

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
500
plc
Jun 16, 2017 1:01 pm
18
1971
shon-aa
Jun 14, 2017 1:11 pm
preeeth
preeeth
7 June

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
414
preeeth
Jun 07, 2017 7:19 pm
preeeth

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
378
becjarrettdalton
Jun 05, 2017 2:35 pm
becjarrettdalton

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
168
becjarrettdalton
Jun 05, 2017 11:16 am
becjarrettdalton
3
459
Slugcatcher
May 26, 2017 9:32 am
plc
plc
25 May

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
310
plc
May 25, 2017 10:59 pm

Land and Construction Loan

Land and Construction Loan

Plus, further to Tom's accurate response it gives you options should the (very unlikely) occurrence of having to change lenders between land and build if something crops…

3
417
becjarrettdalton
May 18, 2017 3:11 pm
becjarrettdalton

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
444
becjarrettdalton
May 18, 2017 3:06 pm
becjarrettdalton
plc
plc
16 May

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
229
plc
May 16, 2017 3:20 pm
plc
plc
15 May

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
211
plc
May 15, 2017 12:59 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
367
becjarrettdalton
May 05, 2017 9:17 am
becjarrettdalton
Berek
Berek
26 April

Wanting to buy but.....

Wanting to buy but.....

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

1
361
Berek
Apr 26, 2017 9:29 pm

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
476
becjarrettdalton
Apr 09, 2017 2:28 pm
becjarrettdalton

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
563
becjarrettdalton
Apr 02, 2017 6:13 pm
becjarrettdalton

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
346
becjarrettdalton
Apr 02, 2017 6:08 pm
becjarrettdalton
SaberX
SaberX
19 March

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
1372
SaberX
Mar 19, 2017 10:20 pm
kiriray
kiriray
16 March

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
1531
kiriray
Mar 16, 2017 8:01 pm
Berek
Berek
14 March

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
402
Berek
Mar 14, 2017 7:19 pm

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
313
becjarrettdalton
Mar 12, 2017 4:14 pm
becjarrettdalton

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
1966
vincent.ausahi
Mar 07, 2017 11:04 pm
MovingForward
MovingForward
23 February

First home - How much do I need to save?

First home - How much do I need to save?

Sorry about the delay, I will however report how I go. I'm set for a pay rise so I better get moving if I'm to be eligible for everything. Thanks again mate! Be back soon.

15
3920
MovingForward
Feb 23, 2017 5:08 pm
becjarrettdalton
becjarrettdalton
15 February

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
1542
becjarrettdalton
Feb 15, 2017 10:31 am
becjarrettdalton
plc
plc
14 February

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
709
plc
Feb 13, 2017 11:32 pm
RegVic
RegVic
13 February

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
1029
RegVic
Feb 13, 2017 3:25 pm
RegVic
aloenyx
aloenyx
4 February

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
1392
aloenyx
Feb 04, 2017 7:50 pm
aloenyx
wongbruce
wongbruce
3 February

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
839
wongbruce
Feb 02, 2017 11:21 pm
wongbruce
wongbruce
1 February

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
680
wongbruce
Feb 01, 2017 1:09 pm

A tough one about the First Home Owner's Grant

A tough one about the First Home Owner's Grant

Nice work - go you! I think people lack the desire to take ownership and see something through to completion in some of these large organisations - or are hamstrung by…

3
1190
becjarrettdalton
Jan 18, 2017 8:48 am
becjarrettdalton
jono6466
jono6466
9 January

Confused.....

Confused.....

the debt is in his personal name, spread across a number of personal credit cards in his name.

5
714
jono6466
Jan 09, 2017 9:10 pm

Construction Loan with Land Explanation

Construction Loan with Land Explanation

Hi Lucy, Usually it's interest only on both the land and the construction loan, but not impossible for it to have been set up differently so double check with your…

1
560
becjarrettdalton
Jan 08, 2017 7:30 pm
becjarrettdalton

Help with mortgage!

Help with mortgage!

Just to confirm you're buying in Canada?

1
736
becjarrettdalton
Jan 02, 2017 5:56 pm
becjarrettdalton
capricorn
capricorn
13 December 2016

Mortgage broker!

Mortgage broker!

Hi, we were in the same situation as you a year ago. We just moved to our new house. We are happy with our mortgage broker. We got to know him through a family friend…

2
1798
capricorn
Dec 12, 2016 11:37 pm
capricorn
9
825
becjarrettdalton
Dec 12, 2016 6:14 am
becjarrettdalton
Finalytics Financial
Finalytics Financial
12 November 2016

Equity and Loan Dilemma

Equity and Loan Dilemma

I have a client in a similar situation. We worked with them and their accountant and decided the best thing was to take the stamp duty hiyt and sell the property into a…

3
3129
Finalytics Financial
Nov 12, 2016 12:59 pm
Christoshizz
Christoshizz
27 October 2016

Owner Building w/ NAB ::angry:: stat decs from parents etc

Owner Building w/ NAB ::angry:: stat decs from parents etc

Hey mate. If it was me I'd be firing your broker and go speak to another broker or another bank lender. Different banks have different financing policies. Vote with your…

1
1124
Christoshizz
Oct 27, 2016 12:00 am
Christoshizz
becjarrettdalton
becjarrettdalton
18 October 2016

Land Titiles and Construction Loan

Land Titiles and Construction Loan

Ok that's why they can't use it. Your sister would have to be shown to have clear benefit by being guarantor, for example residing in the home - and she brings with her…

3
1306
becjarrettdalton
Oct 18, 2016 11:02 am
becjarrettdalton
Kagan1042
Kagan1042
7 October 2016

Qld FHOG under Substantially Renovated Clause

Qld FHOG under Substantially Renovated Clause

Hi All Has anyone managed dto receive the FHOG for a substantially renovated property? I'm wondering how easy this process is, or if its not even worth the paper its…

0
1125
Kagan1042
Oct 07, 2016 11:40 am


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