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Last Post
michae
michae
Yesterday

Second Mortgage

Second Mortgage

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

1
116
michae
Oct 19, 2017 10:50 pm
michae
18
4037
michae
Oct 19, 2017 10:27 pm
michae
michae
michae
15 October

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
451
michae
Oct 15, 2017 5:10 am
michae
michae
michae
13 October

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
421
michae
Oct 13, 2017 8:49 am
michae

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
113
becjarrettdalton
Oct 12, 2017 3:54 pm
becjarrettdalton
poida
poida
7 October

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
413
poida
Oct 07, 2017 9:27 pm
michae
michae
6 October

First Home Buyers - Stamp Duty

First Home Buyers - Stamp Duty

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

7
416
michae
Oct 06, 2017 9:06 pm
michae
michae
michae
6 October

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
478
michae
Oct 06, 2017 8:32 pm
michae
michae
michae
28 September

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
536
michae
Sep 28, 2017 6:26 pm
michae
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
379
plc
Aug 29, 2017 1:58 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
511
plc
Jul 27, 2017 10:45 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
267
plc
Jul 25, 2017 12:59 am
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
377
wongbruce
Jul 12, 2017 10:46 pm
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
316
plc
Jul 10, 2017 3:51 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
357
plc
Jul 03, 2017 11:22 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
581
plc
Jun 16, 2017 2:01 pm
18
2016
shon-aa
Jun 14, 2017 2:11 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
464
preeeth
Jun 07, 2017 8:19 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
420
becjarrettdalton
Jun 05, 2017 3:35 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
192
becjarrettdalton
Jun 05, 2017 12:16 pm
becjarrettdalton
3
496
Slugcatcher
May 26, 2017 10:32 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
346
plc
May 25, 2017 11:59 pm

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
507
becjarrettdalton
May 18, 2017 4:06 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
255
plc
May 16, 2017 4:20 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
239
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
407
becjarrettdalton
May 05, 2017 10:17 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
384
Berek
Apr 26, 2017 10:29 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
503
becjarrettdalton
Apr 09, 2017 3:28 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
590
becjarrettdalton
Apr 02, 2017 7:13 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
366
becjarrettdalton
Apr 02, 2017 7:08 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
1416
SaberX
Mar 19, 2017 11:20 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
1566
kiriray
Mar 16, 2017 9:01 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
415
Berek
Mar 14, 2017 8:19 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
333
becjarrettdalton
Mar 12, 2017 5:14 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
2005
vincent.ausahi
Mar 08, 2017 12:04 am
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
1581
becjarrettdalton
Feb 15, 2017 11:31 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
740
plc
Feb 14, 2017 12:32 am
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
1056
RegVic
Feb 13, 2017 4:25 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
1420
aloenyx
Feb 04, 2017 8:50 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
866
wongbruce
Feb 03, 2017 12:21 am
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
711
wongbruce
Feb 01, 2017 2:09 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
1220
becjarrettdalton
Jan 18, 2017 9:48 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
738
jono6466
Jan 09, 2017 10:10 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
578
becjarrettdalton
Jan 08, 2017 8:30 pm
becjarrettdalton

Help with mortgage!

Help with mortgage!

Just to confirm you're buying in Canada?

1
756
becjarrettdalton
Jan 02, 2017 6:56 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
1821
capricorn
Dec 13, 2016 12:37 am
capricorn
9
859
becjarrettdalton
Dec 12, 2016 7:14 am
becjarrettdalton


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