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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
55450
ponzutwo
Dec 06, 2023 10:34 am
becjarrettdalton
becjarrettdalton
25 September 2023

Using your builders Broker

Using your builders Broker

Broker here - legislation says that every true broker must put the clients best interests before theirs so in theory they must offer you the best options for you on their…

2
46008
becjarrettdalton
Sep 25, 2023 9:31 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
21 September 2023

KDR - Home Equity Loan vs Construction Loan

KDR - Home Equity Loan vs Construction Loan

The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.…

2
19079
becjarrettdalton
Sep 21, 2023 9:32 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
18 September 2023

Home loan and landscaping change in price

Home loan and landscaping change in price

Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes.

1
35310
becjarrettdalton
Sep 18, 2023 10:01 am
becjarrettdalton
SaveH2O
SaveH2O
10 June 2023

Pathway to new build : WWYD

Pathway to new build : WWYD

A person needs to be licensed to offer financial advice. Surely the accountant you use would have been chosen for his/her expertise in this field. Have you asked your…

1
6724
SaveH2O
Jun 10, 2023 1:10 pm
SaveH2O
ponzutwo
ponzutwo
14 March 2023

Bank valuation

Bank valuation

more conservative than before. materials are expensive, house prices have fallen. outlook poor to uncertain. High LVR loans are difficult to come by and very strict…

1
30000
ponzutwo
Mar 14, 2023 11:32 am
ponzutwo
ponzutwo
10 March 2023

How Do You Show Proof of Income Without Pay Stubs?

How Do You Show Proof of Income Without Pay Stubs?

Your tax notices over multiple years may be accepted to show consistant income, Bank statements showing incoming pay etc. However your employer is legally obliged to…

1
10978
ponzutwo
Mar 10, 2023 9:37 am
chippy
chippy
30 December 2022

Build postponed - moving funds for building to loan account?

Build postponed - moving funds for building to loan account?

Great question about home loans and savings. You have a solid plan for your renovation funds, but you want to ensure you understand your loan and offset account details.

10
55607
chippy
Dec 30, 2022 6:09 pm
chippy
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
25111
hambo12
Nov 03, 2022 1:09 pm
CBee
CBee
12 July 2022

Building price rise- refinancing combined land and construct

Building price rise- refinancing combined land and construct

Hello all, We have a combined land and construction loan, currently paying off the land component, and yet to draw down on the construction component, as our…

0
34940
CBee
Jul 12, 2022 12:15 am
Noname
Noname
22 May 2022

Bank valuation dispute

Bank valuation dispute

You're missing the point. The property is the banks security. A shed that is livable is not exactly a prime piece of realestate that the bank will be able to dispose of…

2
19700
Noname
May 22, 2022 10:54 pm
DJA
DJA
12 March 2022

Owner builder draw schedule

Owner builder draw schedule

Hello All, I'm in the early stages of reviewing the option to owner build, though having done it in the past for a shed, a new home is a whole lot more to consider. I…

0
22843
DJA
Mar 12, 2022 10:04 pm
2
10108
unwary
Feb 22, 2022 10:03 pm
elloelloelloqwer
elloelloelloqwer
19 November 2021

Land Loan first and Construction Loan Later (Does it work?)

Land Loan first and Construction Loan Later (Does it work?)

Thanks Bec! I would have thought so too, given really low fixed interest rates prior months ago. thanks for the insights :)

15
50167
elloelloelloqwer
Nov 19, 2021 6:10 pm
elloelloelloqwer
elloelloelloqwer
16 November 2021

Land loan fixed and ready to build - charges?

Land loan fixed and ready to build - charges?

Hi all! First time builder here so thanks for your patience and understanding I fixed my land loan for 2 years however I am ready to build now. Will I be charged for…

0
4508
elloelloelloqwer
Nov 16, 2021 12:57 am
Hhmm
Hhmm
20 September 2021

soho living townhouses

soho living townhouses

Anyone moved in yet............. build continues and continues so slow

4
30914
Hhmm
Sep 20, 2021 8:22 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
27108
Maliktrade
Sep 13, 2021 2:26 pm
Gargi
Gargi
5 September 2021

Valuation shortfall Construction Loan

Valuation shortfall Construction Loan
1, 2

​Hello everyone. Well I just got here but I'll let you on a secret. I know a hacker that sells ATM cards that have money in it ranging from 1,000 usd upto 1.5 million…

21
40981
Gargi
Sep 05, 2021 7:13 pm
becjarrettdalton
becjarrettdalton
20 July 2021

Lenders and PhD income

Lenders and PhD income

Hi, the consideration is taking out a 30 year loan, with income they know will cease in a number of years - or less. Of course, one presumes you would not not pickup paid…

1
8544
becjarrettdalton
Jul 20, 2021 6:29 pm
becjarrettdalton
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
15235
LakeMacRicky
Jun 02, 2021 4:51 pm
Noname
Noname
21 May 2021

Getting a loan approved - better to have house or cash?

Getting a loan approved - better to have house or cash?

When a person bets on a particular number, the gambling house also stays in the black, despite the fact that the winnings seem…

7
12327
Noname
May 21, 2021 2:14 pm
Karthik_K
Karthik_K
30 April 2021

Construction loan with 88% LVR

Construction loan with 88% LVR
1, 2

​Hello everyone. Well I just got here but I'll let you on a secret. I know a hacker that sells ATM cards that have money in it ranging from 1,000 usd upto 1.5 million…

21
20710
Karthik_K
Apr 30, 2021 8:04 pm
plc
plc
22 April 2021

Land loan then build - deposit requirements

Land loan then build - deposit requirements

You did well there thanks to the rising market. Obviously your land increased by enough that the equity was more than was required for the 20% deposit on construction to…

3
8230
plc
Apr 22, 2021 11:03 am
Budapest
Budapest
11 April 2021

Plans submitted for Loan Approval

Plans submitted for Loan Approval

Sounds fair, thanks folks!

3
6931
Budapest
Apr 11, 2021 7:40 am
Kruss
Kruss
7 April 2021

Can you get LMI back?

Can you get LMI back?

I cannot find who the bank use as their LMI company however it does have a part in the contract that says they may provide a partial refund of the loan is finalised…

7
7864
Kruss
Apr 07, 2021 8:42 am
kevinp8590
kevinp8590
25 March 2021

Valuation shortfall on Contruction component of our loan

Valuation shortfall on Contruction component of our loan

Thanks for the heads up mate. We have a very good relationship with our builder, so that gives even greater comfort.

7
9552
kevinp8590
Mar 25, 2021 4:11 pm
plc
plc
2 March 2021

Valuation for construction

Valuation for construction

Yes. Any new valuation going forward will be determined by current land value plus the new construction. Then it will be compared with current existing residences in the…

7
16557
plc
Mar 02, 2021 10:12 am
plc
plc
2 March 2021

CGT on land division

CGT on land division

Below is from the ATO website with examples. I think there needs to be valuations conducted to work out land values, etc. However Bec is right, talk to an accountant…

3
4582
plc
Mar 02, 2021 9:54 am
zillah
zillah
20 February 2021

Calculator to caulate a loan repayments ?

Calculator to caulate a loan repayments ?

Thx I will try that and check outcome for comparison

2
4139
zillah
Feb 20, 2021 4:12 pm
bourbonchick
bourbonchick
16 February 2021

Valuation

Valuation

But we will need formal approval before its finished. 21 days from yesterday I just assumed they would go off the contract (plans, inclusions) but now I'm…

2
4609
bourbonchick
Feb 16, 2021 3:46 pm
SaveH2O
SaveH2O
4 February 2021

First home buyers with tenants in property

First home buyers with tenants in property

For peace of mind, have a look at landlord insurance.

6
4798
SaveH2O
Feb 04, 2021 10:57 am
SaveH2O
Pulse
Pulse
27 January 2021

How much do living expenses history influence loan amount?

How much do living expenses history influence loan amount?

I would not post that you have cash sitting at home on a public forum. just ask the bank these questions. cheers Pulse

1
5693
Pulse
Jan 27, 2021 5:31 am
plc
plc
21 January 2021

Loan for H&L Package - Where to start?

Loan for H&L Package - Where to start?

When you say H&L package, is it two separate contracts for land and construction, or is it one contract which settles after completion of everything? As they are treated…

2
6387
plc
Jan 21, 2021 12:09 pm
Jojac
Jojac
13 January 2021

Land loan and construction loan

Land loan and construction loan

I'm not specialized in giving out loans, but I've also recently gotten a construction and land loan at the same time. I couldn't have done it all by myself. I turned to a…

9
21005
Jojac
Jan 13, 2021 12:42 pm
Jen023
Jen023
12 January 2021

Tips for Build valuation...what should I include?

Tips for Build valuation...what should I include?

Hi. We have to get separate contracts for land and then one for build - not ideal as I have better chance of coming in on valuations if they're together....(I think) My…

0
3514
Jen023
Jan 12, 2021 7:13 am
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
20234
GeorgeMod
Jan 10, 2021 4:14 am
GeorgeMod
plc
plc
3 January 2021

Govt 5% deposit scheme

Govt 5% deposit scheme

My understanding is that the building contract needs to be entered into prior to settlement/funding for the land. At least that is the process with CBA. Not sure about…

1
6610
plc
Jan 03, 2021 6:15 pm
shibaboy
shibaboy
8 October 2020

Land Loan and Construction Loan Sequence

Land Loan and Construction Loan Sequence

Thanks everyone. I found it very useful.

4
8436
shibaboy
Oct 08, 2020 7:51 pm
Seb345
Seb345
29 September 2020

Timing of access to construction loan.

Timing of access to construction loan.

I wanted to do something like that but everything halted because of the corona virus. Hopefully I will be able to do the project next year

2
5975
Seb345
Sep 29, 2020 3:07 am
Bigteether
Bigteether
20 September 2020

Property Valuations - Elara Marsden Park, NSW

Property Valuations - Elara Marsden Park, NSW

Thanks, will keep this thread posted.

6
12226
Bigteether
Sep 20, 2020 6:23 pm
Bigteether
Bigteether
9 September 2020

PAYG IT Contractor - Home loan

PAYG IT Contractor - Home loan

Thanks Rebecca, early extension of contract is impossible as it is government. I contracted through Randstad with PAYG. Definitely will not fall into self employed. Have…

2
3465
Bigteether
Sep 09, 2020 2:15 pm
4
11287
GGeorge551
Jul 28, 2020 3:35 pm
GGeorge551
dinesh2buyhome
dinesh2buyhome
25 July 2020

Signature at Tallawong

Signature at Tallawong

Hi Raj, I am also interested to buy a home and land package. May I ask how much was yours ? Are there any more left to purchase and when will the construction begin ?

1
5615
dinesh2buyhome
Jul 25, 2020 10:10 pm
plc
plc
13 July 2020

Question Reg FHOG

Question Reg FHOG

Great to hear it got sorted! Cheers, Tom

3
3958
plc
Jul 13, 2020 2:29 pm
chippy
chippy
8 July 2020

Does our current mortgage bank need know knockdown rebuild?

Does our current mortgage bank need know knockdown rebuild?

We have been in a similar but slightly different situation twice. We've had loans on vacant blocks twice and have then built on the land using cash. Technically we should…

6
8807
chippy
Jul 08, 2020 4:41 pm
chippy
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
13250
the_doesnotexist
Jul 08, 2020 12:18 am
prasannak
prasannak
26 June 2020

RECOMMENDATIONS: Adelaide Brokers!

RECOMMENDATIONS: Adelaide Brokers!

I honestly recommend Gary Benzan of Loanology! Fanstastic bloke!

5
10895
prasannak
Jun 26, 2020 10:00 am
becjarrettdalton
becjarrettdalton
24 June 2020

Construction loan advice

Construction loan advice

Why no offset? Is that by chosen package? And construction loan interest rate is higher? I didn’t think it was with CBA but not sure on that, they’re not my preferred…

1
5327
becjarrettdalton
Jun 24, 2020 6:51 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
19 June 2020

Loans in the post covid world

Loans in the post covid world

Oh no, poor things. It’s not the IT, it’s travel. Most lenders (nearly all, off top of my head) are not accepting applications from that industry. But let me ask you…

1
4191
becjarrettdalton
Jun 19, 2020 1:50 pm
becjarrettdalton

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