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ponzutwo
ponzutwo
6 December 2023

Home finance

Home finance

you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package?

3
42575
ponzutwo
Dec 06, 2023 11:34 am
hambo12
hambo12
3 November 2022

CBA construction loan - out of contract items

CBA construction loan - out of contract items

Hi Noname, Yes we paid the contributions to the bank and then they would pay trades from that. I received confirmation that the bank will reimburse funds at completion…

4
24574
hambo12
Nov 03, 2022 2:09 pm
Maliktrade
Maliktrade
13 September 2021

Very Low Income - Large Deposit - will I get a house loan?

Very Low Income - Large Deposit - will I get a house loan?

Hi OP! I think that it would also be a good idea to consult a mortgage broker about this so you can have a better idea of all the available options…

17
26409
Maliktrade
Sep 13, 2021 3:26 pm
LakeMacRicky
LakeMacRicky
2 June 2021

Knock-down Rebuild Finance

Knock-down Rebuild Finance

Thanks Rebecca, it's interesting that some banks are keen and others aren't. We will ask around for a local broker, although had a slightly negative experience with one…

2
14787
LakeMacRicky
Jun 02, 2021 5:51 pm
GeorgeMod
GeorgeMod
10 January 2021

Land valuation

Land valuation

I think it's a nice place have couple of friends who did that great move on getting a land there.

2
19819
GeorgeMod
Jan 10, 2021 5:14 am
GeorgeMod
the_doesnotexist
the_doesnotexist
8 July 2020

Stamp Duty Question

Stamp Duty Question

If you qualify for FHOG then yes you should get your bank to apply for the FHO rate of duty for you. Do it as soon as you can as it takes them a while. If you’ve already…

14
12759
the_doesnotexist
Jul 08, 2020 1:18 am
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
15698
plc
Oct 20, 2019 9:47 pm
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
8082
checkyour
May 19, 2019 10:51 pm
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
15282
James Brown
Feb 02, 2019 9:33 pm
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
20606
Intellichoice
Dec 14, 2018 4:04 pm
Intellichoice
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
2062
HDRider
Jan 29, 2018 4:44 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
2742
dream2017
Nov 12, 2017 9:45 pm
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
2515
michae
Oct 13, 2017 8:49 am
michae
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
2317
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
2742
plc
Jul 03, 2017 11:22 am

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
1949
becjarrettdalton
May 05, 2017 10:17 am
becjarrettdalton
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
4309
becjarrettdalton
Feb 15, 2017 11:31 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
12 December 2016

Contract Sale + Deed option

Contract Sale + Deed option

Ok fingers crossed for you!

9
3174
becjarrettdalton
Dec 12, 2016 7:14 am
becjarrettdalton

Huffle - Groupon for Mortgages

Huffle - Groupon for Mortgages

NO NO NO RUN AWAY In short they are lending similiar to RAMS 1.0 did (before Westpac took over in NAME ONLY) from their website info. Nice in a positive disconnect…

3
2304
new_senior_citizen
Jul 06, 2016 10:47 pm

Recommend a good broker in Sydney

Recommend a good broker in Sydney

My kids used Alliance Credit on the pier opposite "The Star" casino in Sydney, but they have an office at baulkham hills too. Alliancecredit.com.au They were able to help…

5
3297
new_senior_citizen
Jul 06, 2016 5:07 pm

Valuation being more then build cost

Valuation being more then build cost

Sometimes valuations are a bit like astrology. But as long as the property has gone up since you put a deposit on in, and assuming you qualified for a loan then, you…

5
2844
new_senior_citizen
Jul 06, 2016 5:00 pm
bank
bank
20 June 2016

Pay LMI or save up some more?

Pay LMI or save up some more?

Yes there would be no LMI on the land loan. Then some or none on your construction loan depending on if you save 20% of the build cost by the time you want to build. …

7
2697
bank
Jun 20, 2016 11:33 am
bank
deejay08
deejay08
15 February 2016

Altering builder contract/tender if not approved

Altering builder contract/tender if not approved

Oh no you just need your tender to apply for a construction loan...your contract will be submitted later.

2
1601
deejay08
Feb 15, 2016 10:38 pm
deejay08
deejay08
29 January 2016

Loan approval prior to land registration

Loan approval prior to land registration

Yeah we would be classed as no 3 in your scenario naritas..sort of. We went direct to the lender so no broker in the middle (don't like them) and have an off the shelf…

9
5094
deejay08
Jan 29, 2016 5:42 pm
plc
plc
28 January 2016

Borrowing after construction is completed

Borrowing after construction is completed

If your builder doesn't want to do it, but your bank allows third party quotes, get them done for the fencing, etc and include them along with your building contract to…

7
2934
plc
Jan 28, 2016 7:41 pm
plc
plc
28 January 2016

Employment history and loan application

Employment history and loan application

It all depends on what the mitigating circumstances are. If you are moving within the same industry and you have moved to a higher paying role, even with probation it…

5
2292
plc
Jan 28, 2016 7:29 pm
naritas
naritas
13 October 2015

Owner Occupied Loan Rental for 6months

Owner Occupied Loan Rental for 6months

Hi VA773ER, You'll find an extremely useful article on this topic located here:…

2
1932
naritas
Oct 13, 2015 8:06 pm
naritas
becjarrettdalton
becjarrettdalton
9 September 2015

Finance Question for experienced owner builders

Finance Question for experienced owner builders

For what purpose? I don't think you'd find a lender who would accept a guarantee with owner builder. It comes back to having the equity or the cash to fund the build…

3
1608
becjarrettdalton
Sep 09, 2015 12:36 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
8 September 2015

Land and construction loan with same bank. Benefits?

Land and construction loan with same bank. Benefits?

You can't separate the lenders, the lender wants security over your property and there's only the one security. Talk to a broker who can choose the right lender for…

1
1500
becjarrettdalton
Sep 08, 2015 2:36 pm
becjarrettdalton
Falcon1980
Falcon1980
19 August 2015

title deeds question

title deeds question

Thanks

4
1870
Falcon1980
Aug 19, 2015 9:02 am
becjarrettdalton
becjarrettdalton
17 August 2015

Can we choose how much to borrow?

Can we choose how much to borrow?

Yep 80% of the land then you can borrow 80% of the build as a construction loan when that starts. I can give you a great broker n Toukley if that helps.

7
2191
becjarrettdalton
Aug 17, 2015 5:37 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
17 August 2015

Bank Cheque question (OR BEARER)

Bank Cheque question (OR BEARER)

In all but extraordinary cases a bank cheque can only be cancelled by taking it back to the bank - the only exception being where it is lost, and there is a process behind…

7
3668
becjarrettdalton
Aug 17, 2015 9:22 am
becjarrettdalton
Leksie5000
Leksie5000
7 August 2015

Construction contract - subject to finance?

Construction contract - subject to finance?

Or will not approve loan. Anyone heard of such a detailed payment schedule? Builder says this is the "new"…

4
2627
Leksie5000
Aug 07, 2015 3:58 pm
Building4my3tots
Building4my3tots
17 July 2015

Paying off mortgage cheaper than 26 years ago

Paying off mortgage cheaper than 26 years ago

Definitely a Sydney thing! Old fibro houses are fetching over 1 mil in my suburb, It's so crazy! and building industry always catches on, so building cost just raise too!…

5
1710
Building4my3tots
Jul 17, 2015 10:06 am
Building4my3tots
becjarrettdalton
becjarrettdalton
16 June 2015

Home Loan question

Home Loan question

NOT giving tax advice, here's a quick blog post I have written which might make sense of the above advice http://homeloancomparison.com.au/offset ... investors/

6
2998
becjarrettdalton
Jun 16, 2015 11:18 pm
becjarrettdalton
Stuart05
Stuart05
13 June 2015

No Lawyer/Conveyancer for the construction Loan?

No Lawyer/Conveyancer for the construction Loan?

if you aren't comfortable at being able to understand the building contract then it may well be worth having a lawyer look over it (I think you will find a conveyancer…

5
2619
Stuart05
Jun 13, 2015 2:17 am
becjarrettdalton
becjarrettdalton
25 March 2015

Construction loan query - docs for items outside contract

Construction loan query - docs for items outside contract

Its more about the bank being unable to hold a security that doesn't have a kitchen, and being unable to force you to use the money to put a kitchen in. We all know you're…

8
2708
becjarrettdalton
Mar 25, 2015 12:52 pm
becjarrettdalton
sprakk
sprakk
19 March 2015

Increasing Borrowing Power

Increasing Borrowing Power

Very good reads. Extremely informative. Thanks for that Bec. I hope moving from the car loan onto the new personal loan doesn't affect my prospects too much. But I think…

13
3962
sprakk
Mar 19, 2015 11:06 am
becjarrettdalton
becjarrettdalton
17 March 2015

Query about land and construction loan

Query about land and construction loan

Hi Mansawant - they do a valuation on the complete package - what the finished house on the land is worth. If you have equity in the land and a large deposit for the build…

1
1078
becjarrettdalton
Mar 17, 2015 1:21 pm
becjarrettdalton
Matt1
Matt1
9 February 2015

Reasonable Conveyancer Pricing & Practise?

Reasonable Conveyancer Pricing & Practise?

I paid $990 (each) to sell a house and buy a block of land in the middle of 2013 (in NW Sydney). Around $1000 was fairly common in NW Sydney at the time. I would have no…

1
1317
Matt1
Feb 09, 2015 8:26 pm
Matt1
bigdreamer
bigdreamer
5 February 2015

Credit Report - Consumer Credit Enquiries

Credit Report - Consumer Credit Enquiries

Thanks so much for your replies! I only have 2 inquiries for last year (none in the last 6 months) and none for this year so sounds like I should be okay. I wonder why my…

4
2420
bigdreamer
Feb 05, 2015 6:19 pm
4
2592
adoreman
Feb 02, 2015 1:18 pm
Leksie5000
Leksie5000
21 January 2015

Getting loan while pregnant

Getting loan while pregnant

Well, my thought on that is it's not impossible she was right, it's also not impossible she was wrong, bank staff are under a lot of…

10
3211
Leksie5000
Jan 21, 2015 12:59 pm
jb_money
jb_money
20 January 2015

What can you include in your construction loan.

What can you include in your construction loan.

Hi Bec, It is important that you provide the bank and valuer all quotes including floor coverings and try and see if you can include the driveway and landscaping into the…

2
1753
jb_money
Jan 20, 2015 10:31 am
becjarrettdalton
becjarrettdalton
14 January 2015

CUA construction loan

CUA construction loan

Glad to know you had a great broker and got there - that I LOVE to hear, it's why I love my job! FIFO is tough, you do it for a reason, shouldn't be the reason you aren't apprved.

7
2337
becjarrettdalton
Jan 14, 2015 7:40 pm
becjarrettdalton
questionable
questionable
9 January 2015

Help, what would you do??

Help, what would you do??

Wanted to cover all bases! Would love to avoid renting if we could, but do accept it may be the way things have to be..

8
2873
questionable
Jan 09, 2015 1:43 pm
becjarrettdalton
becjarrettdalton
18 December 2014

Bank val for construction loans

Bank val for construction loans

I absolutely understand! There's only one way to find out - get your broker to order a valuation and see what you're working with. There are lenders who will consider up…

3
1620
becjarrettdalton
Dec 18, 2014 10:17 am
becjarrettdalton
emski83
emski83
5 December 2014

Gift as deposit and genuine savings

Gift as deposit and genuine savings

Speak to a mortgage broker

6
5194
emski83
Dec 05, 2014 10:03 am
becjarrettdalton
becjarrettdalton
28 November 2014

Mortgagehouse

Mortgagehouse

Ahhh, how big is the footprint? Get the builder to lay your plans on there so you get the aspect. Need room for a swing set or a trampoline!

5
1654
becjarrettdalton
Nov 28, 2014 7:26 pm
becjarrettdalton

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