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Tight lending (Does this sound right)

Tight lending (Does this sound right)

All lender criteria vary widely - including the way they scale rent and other commitments. Additionally they have to test based on a buffered interest rate (and are…

1
2180
becjarrettdalton
Jan 13, 2020 12:42 pm
becjarrettdalton
ST-Hardy
ST-Hardy
2 January

Stamp Duty Question

Stamp Duty Question

So as it turns out, we are still exempt from stamp duty - woohoo!!

9
4743
ST-Hardy
Jan 02, 2020 9:13 pm
ST-Hardy
becjarrettdalton
becjarrettdalton
19 December 2019

Mortgage with 92% LVR

Mortgage with 92% LVR

Congratulations ... and commiserations. I'm glad you worked it out before you bought & it's a valuable exercise I encourage. You should be able to simply convert to any…

9
4793
becjarrettdalton
Dec 19, 2019 2:01 pm
becjarrettdalton
Susansmith07
Susansmith07
15 December 2019

Contracts signed-subject to Bank Val-

Contracts signed-subject to Bank Val-

This sounds very familiar. We have had a similar issue, I wonder if it’s the same builder in the south east of Melb

5
6342
Susansmith07
Dec 15, 2019 12:07 pm
Melbournevic
Melbournevic
11 December 2019

Construction Loan and Deposit to Builder

Construction Loan and Deposit to Builder

Ok great, thanks for the information.

2
1208
Melbournevic
Dec 11, 2019 11:42 am
aplacetocallhome
aplacetocallhome
23 November 2019

Developer/Builder + Broker Purposely Stalling Finance?

Developer/Builder + Broker Purposely Stalling Finance?

Thanks for the feedback everyone, it does make me feel a lot better about the situation. I don't know why they couldn't just tell me this information at the time of our…

6
4420
aplacetocallhome
Nov 23, 2019 1:24 pm
becjarrettdalton
becjarrettdalton
21 November 2019

Land and Construction Loan

Land and Construction Loan

Erm, that’s not Aussie, are you looking in Australia?

5
2109
becjarrettdalton
Nov 21, 2019 9:23 pm
becjarrettdalton
plc
plc
20 October 2019

Building a house with a Mortgage

Building a house with a Mortgage

If you are comfortable with the repayments holding both properties for that temporary period, then it can be a worthwhile exercise. What are some of your concerns you…

11
9567
plc
Oct 20, 2019 9:47 pm
plc
plc
16 September 2019

Construction Administration Fee by Bank

Construction Administration Fee by Bank

If you are looking for , we can offer you all credit companies on one website. ge

2
7310
plc
Sep 17, 2019 12:31 am
plc
plc
6 September 2019

Lots of questions Re: first mortgage for land/construction

Lots of questions Re: first mortgage for land/construction

Just to add to Bec's post, you need to take into account the possibility of a valuation shortfall, or unexpected contingency costs that may come up that are on top of the…

2
3708
plc
Sep 06, 2019 1:19 am
gillybean
gillybean
12 August 2019

Go cheap now or better later?

Go cheap now or better later?

i buy my home magnet badge from it was very good and fantastic

4
6513
gillybean
Aug 12, 2019 12:06 pm
gillybean
JanePart
JanePart
8 August 2019

First step homes

First step homes

Hi Charlz - did you end up going with First Step Home Loans? We are looking at them now

1
2357
JanePart
Aug 08, 2019 12:09 pm
domwild
domwild
27 July 2019

are deposits to builders refundable?

are deposits to builders refundable?

In one 1 star complaint with a builder on productreview.com.au, that user did not only get his deposit back, the builder charged him tens of thousands of Dollars more…

7
5106
domwild
Jul 27, 2019 6:27 pm
basicbeans
basicbeans
16 July 2019

Suggestions for finance options for land/construction

Suggestions for finance options for land/construction

Has this happened to anyone where you've signed up on a contract with your builder while waiting for your home to be sold? Thanks

6
8708
basicbeans
Jul 16, 2019 6:28 pm
raptor19
raptor19
12 June 2019

Valuation shortfall Construction Loan

Valuation shortfall Construction Loan

Rex, you can but be mindful the bank has the final word and the valuers don’t like being challenged. And ultimately the banks won’t use a valuation from a valuer who…

19
13898
raptor19
Jun 12, 2019 10:55 pm
plc
plc
12 June 2019

Using a new broker after pre approval expires

Using a new broker after pre approval expires

As Bec said, you can basically do what you want whether its go direct with a bank or with another broker. There may be other options out there now that weren't present…

4
976
plc
Jun 12, 2019 1:53 am
flower__power
flower__power
9 June 2019

Insurance needed for loan, can't insure?

Insurance needed for loan, can't insure?

Yes the house insurance, LMI wasn't needed. Thank you i'll follow up with a solicitor.

4
1297
flower__power
Jun 10, 2019 12:16 am
basicbeans
basicbeans
23 May 2019

Planning on new build - subject to selling the current home

Planning on new build - subject to selling the current home

Thanks. Yes I noticed builders have promotions these days to attract buyers as the market has cooled down. However not a good timing for those who are into selling,…

5
5285
basicbeans
May 23, 2019 9:09 am
checkyour
checkyour
19 May 2019

Worried about Land Valuation

Worried about Land Valuation

that is the land I was planed to buy last year, I did some research, since the north west link will extend through Marsden park to new airport, I…

7
3650
checkyour
May 19, 2019 10:51 pm
basicbeans
basicbeans
13 May 2019

95% LVR land loan, or alternatives

95% LVR land loan, or alternatives

Excellent, thanks for the information. Very helpful!

9
6149
basicbeans
May 13, 2019 7:25 pm

Deposit with 2 jobs inc ABN

Deposit with 2 jobs inc ABN

Ahhh complicated and fun answer :) The answer is - we can only work with what is, not what will be. So right now you have an income of X from your office job and a new ABN…

1
1615
becjarrettdalton
May 07, 2019 3:44 pm
becjarrettdalton
deano163
deano163
30 April 2019

Paying for a house build outright?

Paying for a house build outright?

Thanks all, there's a lot of interesting info in the responses so far. We hadn't thought about the frequent flyer card option so that will be on our list of options to…

6
1774
deano163
Apr 30, 2019 9:53 am
Intellichoice
Intellichoice
21 April 2019

Finance approval subject to title problems

Finance approval subject to title problems

Think they are getting confused-broker and developer, as a normal requirement for settlement-not pre approval would be land correctly titled, A pre-approval tells…

2
4416
Intellichoice
Apr 21, 2019 9:17 am
Intellichoice
plc
plc
20 February 2019

New home finance

New home finance

Even BOM (or St George to rest of the country) do it as well. Servicing on end debt only as well.

4
2894
plc
Feb 20, 2019 1:53 am
becjarrettdalton
becjarrettdalton
11 February 2019

Land Price Valuaiton Reduction before Registration

Land Price Valuaiton Reduction before Registration

As you know the Sydney market has moved, and with those other blocks listed for less that will make it challenging for a higher valuation. Obviously paying less is better…

3
1666
becjarrettdalton
Feb 11, 2019 8:55 pm
becjarrettdalton
James Brown
James Brown
2 February 2019

Building with New Living Homes

Building with New Living Homes
1, 2

First of all, You note down your requirements and then contact with builder. They tell you many suggestions and explain all the things according to your requirements.

23
9131
James Brown
Feb 02, 2019 9:33 pm
shape
shape
22 January 2019

Declined by LMI - what to do next?

Declined by LMI - what to do next?

Then your fine, especially given the time-frame.

16
6372
shape
Jan 22, 2019 8:47 pm
shape
Intellichoice
Intellichoice
14 December 2018

Curious as to how people choose their lender / broker

Curious as to how people choose their lender / broker
1, 2

Can be very tricky-as with all the information available-it is always the case it can be misconstrued or straight out false if not applicable to an individuals…

29
13867
Intellichoice
Dec 14, 2018 4:04 pm
Intellichoice
Intellichoice
Intellichoice
11 December 2018

Owner Builder Loans Australia by Intellichoice

Owner Builder Loans Australia by Intellichoice

Are planning to build your dream home and enthusiastic to apply your passion for building something to be proud of. Thinking that getting a licensed builder is too much…

0
1710
Intellichoice
Dec 11, 2018 9:00 pm
Intellichoice
Intellichoice
Intellichoice
10 December 2018

Bad Credit Home Loans

Bad Credit Home Loans

Are you worried about your bad credit? Have you tried to apply for a loan and failed? Intellichoice is happy to share how we can help you through our direct and ethical…

0
1253
Intellichoice
Dec 10, 2018 10:52 am
Intellichoice
skadoosh
skadoosh
13 November 2018

Deposit/Payments at settlement.

Deposit/Payments at settlement.

Yes, you are right. To confirm the transaction is enough to a bank check. It will be checked, so carefully fill in all bank details. Don't forget…

0
2459
skadoosh
Nov 13, 2018 7:59 pm
fully
fully
9 November 2018

Unconditional finance

Unconditional finance

Hi, just asking on behalf of a friend. Does unconditional finance expire/valuation expire? Unconditional finance has been received at the end of September, land is a…

0
1640
fully
Nov 09, 2018 10:31 am
JB1
JB1
9 September 2018

Tax on sold land

Tax on sold land

I'm assuming you're referring to the 50% CGT discount. Yes, it's date of contract, not title. Also, when you sell, it is date of sale is the contract date not settlement.

1
1021
JB1
Sep 09, 2018 10:40 pm
becjarrettdalton
becjarrettdalton
12 August 2018

Homes and SMSF

Homes and SMSF

Hi Dean, It definitely varies, and if that includes the statement of advice which would sign off on the LRBA agreement it’s not unheard of. I’ve seen similar but I…

1
1083
becjarrettdalton
Aug 12, 2018 3:02 pm
becjarrettdalton
algernon
algernon
10 July 2018

Understanding mortgage broker calculations?

Understanding mortgage broker calculations?

On the figures provided there, the net proceeds of borrowing (i,e. what goes towards paying for the house) is $296K. On top of that, there's an 'extra' $7.7K added on to…

2
1110
algernon
Jul 10, 2018 9:11 pm
yoyohv
yoyohv
3 May 2018

Slab Progress Payment shortfall?

Slab Progress Payment shortfall?

Hi all, yeah. It was the FHOG.... All sorted. Apparently the builder got all the invoice paid in full... Only the difference between the invoice and FHOG was charged on…

8
1976
yoyohv
May 03, 2018 4:31 pm
becjarrettdalton
becjarrettdalton
9 April 2018

Figuring out what size mortgage we can finance

Figuring out what size mortgage we can finance

You can mitigate some of the risk by considering a fixed rate - and in terms of affordability if the bank has already passed you through their calculators the next and…

7
2091
becjarrettdalton
Apr 10, 2018 12:26 am
becjarrettdalton
lad2018
lad2018
15 March 2018

Lender Mortgage Insurance Question

Lender Mortgage Insurance Question

Try to check with another insurance online calculator, like here: But indeed, for me your argument and calculation sounds good

3
1594
lad2018
Mar 15, 2018 4:33 pm
StructuralBIMGuy
StructuralBIMGuy
7 March 2018

Architect/Designer fees

Architect/Designer fees

The Architects & Builders want to be paid for work nothing is free, especially, if the building contract falls over If you haven't got enough for fees (2-3%) then you…

3
2054
StructuralBIMGuy
Mar 07, 2018 12:14 pm
StructuralBIMGuy
becjarrettdalton
becjarrettdalton
20 February 2018

Things to discuss about mortgage penalty

Things to discuss about mortgage penalty

Erm - this is Australian site - in Australia no penalties for variable rate - go Aussie!!! The rest doesnt really apply to us either

1
1902
becjarrettdalton
Feb 20, 2018 5:56 pm
becjarrettdalton
plc
plc
9 February 2018

Buy land now, or jumping the gun?

Buy land now, or jumping the gun?

As Bec says, only you can make the call. Its a lifestyle decision. Just make sure you are able to afford the loans with an equity release and there is no shortfall in…

2
1506
plc
Feb 09, 2018 11:04 pm
HDRider
HDRider
29 January 2018

Valuation based on preliminary floor plans

Valuation based on preliminary floor plans

Hi Guys, Does anyone know if a bank (/Valuator) can consider preliminary floor plans and site plan (without…

0
927
HDRider
Jan 29, 2018 4:44 pm
becjarrettdalton
becjarrettdalton
21 January 2018

Build Loan

Build Loan

Do you have a spare room??? Sounds like bliss!

7
2080
becjarrettdalton
Jan 21, 2018 3:14 pm
becjarrettdalton
JAMBY
JAMBY
2 January 2018

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
1411
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
1168
becjarrettdalton
Dec 15, 2017 11:16 pm
becjarrettdalton
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
931
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
1314
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
1495
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
1071
michae
Oct 19, 2017 10:50 pm
michae

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