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Seethe1
Seethe1
6 August 2014

Nervous about approval

Nervous about approval

Do up your own budget and also adopt standard living costs at about 30k for a couple and 16k per child. For the loan repayments use a principal and interest calculator…

7
1348
Seethe1
Aug 06, 2014 9:31 pm
bpratt
bpratt
31 July 2014

Can anyone help with advise with a Land & Construction loan

Can anyone help with advise with a Land & Construction loan

I just joined, so I am not allowed to send any messages/replies. Would you have an idea as to when we are allowed to send messages, from…

10
2182
bpratt
Jul 31, 2014 10:20 am
plc
plc
31 July 2014

House & land package vs land first-negotiate with a builder?

House & land package vs land first-negotiate with a builder?

If you like the block, you like the builder and you are happy with the plan (or the builder is happy to make changes)…

8
1583
plc
Jul 31, 2014 3:38 am
KGsGirl
KGsGirl
29 July 2014

Builder Progress Payments

Builder Progress Payments

In the end, St G agreed to the builders list of progress payments except they swapped the last 2 around as they needed minimum 10% for the final payment. Builder agreed…

7
1357
KGsGirl
Jul 29, 2014 7:21 pm
KGsGirl
jb_money
jb_money
21 July 2014

FHO - having trouble with vacant lot finance w CBA

FHO - having trouble with vacant lot finance w CBA

Ah this is quiet a tricky predicament indeed... Property in close proximity (within 100m) to High Voltage Power lines will likely be considered unfavorably by most…

2
870
jb_money
Jul 21, 2014 5:39 pm
joannek
joannek
15 July 2014

Architect/design fees and deposit

Architect/design fees and deposit

Our plans became absorbed (deducted) from the construction cost. I think we were only left $2000 out of pocket for the plans.

6
888
joannek
Jul 16, 2014 12:09 am
jane1970
jane1970
5 July 2014

Conveyancing & Legal Services?

Conveyancing & Legal Services?

Try Williams Boxsell Georgas Lawyers. We used them for complex property purchases and legal advises. http://www.wbglawyers.com.au/

1
566
jane1970
Jul 05, 2014 6:55 pm
jb_money
jb_money
23 June 2014

First home buyer: expecting low valuation

First home buyer: expecting low valuation

The main reason that valuations come in low is that the valuer did not find any comparable sales to support the value that you estimated. However there could be other…

7
1430
jb_money
Jun 23, 2014 12:34 pm
LaceyM
LaceyM
3 June 2014

FINANCE or NOT heating&cooling & fencing & landscaping

FINANCE or NOT heating&cooling & fencing & landscaping

If you bought in an estate read over the design guidelines, in ours we must have all visible works (front landscaping, letterbox, fencing) done within the first 3 months…

3
834
LaceyM
Jun 03, 2014 2:49 pm
LaceyM
CH2012
CH2012
2 June 2014

FHOG Question - One eligible person in couple

FHOG Question - One eligible person in couple

Also they ask for a copy of the contract if I recall correctly, which shows you both purchasing

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1304
CH2012
Jun 02, 2014 9:48 pm
Beetaloo
Beetaloo
30 May 2014

Construction Loan - Westpac Bank

Construction Loan - Westpac Bank

If you include such items as: - light fittings - landscaping - retaining walls - concreting - carpet - pergolas on the documents you lodge with your bank they will…

5
1523
Beetaloo
May 30, 2014 10:16 pm
Beetaloo
shape
shape
29 May 2014

Unconditional Approval, but questions around settlement

Unconditional Approval, but questions around settlement

14 days settles from date the notice was sere is common for Off the plan and vacant lands. 1. Try to get an extension to 21 days, it be less stressful for you. 2. Your…

10
3894
shape
May 29, 2014 8:50 am
shape
V1SHRNZ
V1SHRNZ
26 May 2014

Lender's mortgage insurance - how did you pay it?

Lender's mortgage insurance - how did you pay it?

LMI is capitalised onto the loan by the bank. However if you borrow more than 90% then the LMI amount shoots up drastically. Try to keep to a 90% lend as you will tend…

8
1294
V1SHRNZ
May 26, 2014 5:26 pm
V1SHRNZ
shape
shape
22 May 2014

St George Construction Loan

St George Construction Loan

Hi Yaditya Are you looking to use equity in the land that you're looking to build on? Have you settled on this land…

6
855
shape
May 23, 2014 12:03 am
shape
Jamie M
Jamie M
21 May 2014

finance for 2nd house

finance for 2nd house

Hi Hachy Whether a bank will lend for the second property will come down to your overall borrowing capacity and the availability of a deposit (either via equity or…

2
690
Jamie M
May 21, 2014 1:25 pm
Jamie M
plc
plc
9 May 2014

Valuations - street vs area vs suburb

Valuations - street vs area vs suburb

They will be using the plans and specifications, etc from the builder to determine the valuation for construction. Total valuation is based on the land value plus build…

2
1272
plc
May 09, 2014 1:23 am
becquack
becquack
5 May 2014

Deed of agreement/guarantor loan

Deed of agreement/guarantor loan

Thanks for the reply. They said she just has to own 20% which she does. But it doesn't matter now anyway. Coz she has decided not to do it.

2
666
becquack
May 05, 2014 10:05 am
bashworth
bashworth
27 April 2014

Where to start?

Where to start?

Although it may seem to be a pain paying LMI it does help you get out of paying rent sooner. For instance on a total loan of $400,000 with a $20,000 deposit you could…

1
735
bashworth
Apr 27, 2014 2:13 pm
bashworth
lila rose
lila rose
23 April 2014

Building for less than contract value.

Building for less than contract value.

This sounds like a really terrible plan. First of all, I think you were ill advised by your broker and cannot understand why they would give you such advice, except…

8
1065
lila rose
Apr 23, 2014 9:45 pm
lila rose
Nibbles55
Nibbles55
13 April 2014

Pursuing damages for buyers terminating unconditional contra

Pursuing damages for buyers terminating unconditional contra

Would you mind explaining why the agent is entitled to 50% of the deposit when the sale has fallen through? In NSW the commission does not get paid till settlement. I…

8
1097
Nibbles55
Apr 13, 2014 4:03 pm
archetto
archetto
27 March 2014

Land loan & construction loan question

Land loan & construction loan question

Because our construction loan is going to be quite high so we want to just have the one loan rather than combine 2 and be paying off more, we will still have cash to…

15
1683
archetto
Mar 27, 2014 1:46 pm
archetto
shape
shape
23 March 2014

Land, tender, finance - which order to do them in?

Land, tender, finance - which order to do them in?

Hi, Maybe a dumb question but we've got to start somewhere! We found a block and a design we like, but in order to finance the block &…

3
899
shape
Mar 23, 2014 7:13 pm
shape
shape
shape
23 March 2014

Westpac - 5 progress payments only

Westpac - 5 progress payments only

5 is normal ...6 including deposit is also normal :) >5-6 progress payment occurs normally with the smaller builders/private builders as they have a very tight cash flow…

5
1560
shape
Mar 23, 2014 7:04 pm
shape
tsmith
tsmith
5 March 2014

Should you use a builders broker?

Should you use a builders broker?

i do realise about commissions, kinda crazy they get money for each year of the loan... oh well i will do some research

7
768
tsmith
Mar 05, 2014 11:20 pm
Treeseachanger
Treeseachanger
21 February 2014

Home loan for brother

Home loan for brother

Just a suggestion (and I'm not saying your brother is untrustworthy) To get him used to paying a mortgage of the house, why don't you…

8
1290
Treeseachanger
Feb 21, 2014 12:25 am
shape
shape
20 February 2014

Paying rent affecting borrowing capacity to build? WTF

Paying rent affecting borrowing capacity to build? WTF

Hi ppl, Currently have a land mortgage with one of the big 4, have just attempted to apply for construction loan and they inform me that because…

6
1379
shape
Feb 20, 2014 11:08 pm
shape
shape
shape
20 February 2014

What a nightmare

What a nightmare

$200 defaults is ok. However you def can't apply for NAB as you have a default mortgage listing with NAB; one reasons why it's not always worthwhile going with your same…

6
1357
shape
Feb 20, 2014 11:04 pm
shape
AussieMark
AussieMark
14 February 2014

When does an investment property become a primary residence?

When does an investment property become a primary residence?

I think it comes down to whether it is classed as a capital improvement. It is along time back since I had read the case law but I recall the test case was a dance studio…

10
1062
AussieMark
Feb 14, 2014 5:29 pm
jb_money
jb_money
10 February 2014

The grand plan and how to finance it

The grand plan and how to finance it

my question is based on 5% deposit. can mortgage insurance be put in over the top of the finance amount of $411000 and be ok? and can all bank…

7
1322
jb_money
Feb 10, 2014 7:33 pm
EmyN
EmyN
6 February 2014

Land release day

Land release day

Hehe sorry I had no practical advice or experience to share. Just made me think of the land runs of the wild west! Hopefully will be a bit more civilised for yourself hahaha.

3
771
EmyN
Feb 06, 2014 11:40 am
EmyN
natlyn
natlyn
3 February 2014

Changing Job during home loan application

Changing Job during home loan application

Thanks for the responses. He has been in the IT industry for 10 years just working for different companies. He will now be working within IT still (same sort of position)…

5
1722
natlyn
Feb 03, 2014 4:06 pm
natlyn
spamjam
spamjam
29 January 2014

Section 27 confusion

Section 27 confusion

Thanks travelbug - yes I was surprised and it feels a bit weird seeing things about other people's affairs, but the document appears to be part of the Section 27…

6
1104
spamjam
Jan 29, 2014 5:18 pm
2
1079
Java Bean
Jan 27, 2014 7:02 pm
shanebailey
shanebailey
22 January 2014

First Home Saver Accounts

First Home Saver Accounts

Hi Homemaker, As per my previous post in the thread, we found the first home owner accounts very beneficial to guiding us and assisting us in our savings. The government…

7
1207
shanebailey
Jan 22, 2014 7:20 pm
Marmalade
Marmalade
22 January 2014

Letter of Commencement, additional funds proof

Letter of Commencement, additional funds proof

BE, as always, has good advice. Pays to take a week to fully understand your contract, don't rush things and ask plenty of questions. If in doubt seek professional…

11
1717
Marmalade
Jan 22, 2014 7:40 am
Salsaby
Salsaby
20 January 2014

Conditional to Formal Approval - Keystart

Conditional to Formal Approval - Keystart

Unfortunately we lost our block today to another buyer so we are back to square one.... just days from getting formal finance. All valuations checks etc had been done…

4
2139
Salsaby
Jan 20, 2014 4:16 pm
Salsaby
KarenP27
KarenP27
20 January 2014

Valuation Questions

Valuation Questions

Not sure if the other 3 blocks used a real estate agent or not...but we are in the process of using one to purchase the 4th block...Just cant understand how the most…

6
1187
KarenP27
Jan 20, 2014 11:37 am
4
942
KGsGirl
Jan 17, 2014 9:05 pm
KGsGirl
jb_money
jb_money
15 January 2014

First Home Builders Grant 30k Tas

First Home Builders Grant 30k Tas

Most of the time you need to complete SLAB stage in construction before the FHOG can be paid by the government so it may become an issue. The equity will not help at this…

2
587
jb_money
Jan 15, 2014 9:28 am
ugbug
ugbug
6 January 2014

How much $ do you have left over?

How much $ do you have left over?

We have a detailed budget for the next 2-3 years, although really only the next 12 months is important. We include savings, money every fortnight to spend on ourselves…

3
1002
ugbug
Jan 06, 2014 11:45 am
ugbug
xueprojects
xueprojects
4 January 2014

Are we dreaming?

Are we dreaming?

I use to work for RAMS as a lender, this was several years back. Their rates back then are a bit higher compared with some of the more competitive lenders. If you shop…

20
2976
xueprojects
Jan 04, 2014 3:04 pm
supadupa
supadupa
20 December 2013

Price reduction - rebate clause?

Price reduction - rebate clause?

Hi all, We have just purchased our first home, and due to the late discovery of some serious damage to the house, the vendors agreed to drop the price. This was agreed to…

0
539
supadupa
Dec 20, 2013 10:19 pm
Darali
Darali
2 December 2013

First time building - Land Settlement Questions

First time building - Land Settlement Questions

As a client I just had to make sure all the $$ were in place, the solicitor did all the details, rang me when it was completed and sent all the…

6
1066
Darali
Dec 02, 2013 8:26 pm
Darali
WesternFront
WesternFront
2 December 2013

Our mortgage is brand new - and we should've asked for more

Our mortgage is brand new - and we should've asked for more

A quick update just in case anyone in the same predicament reads through this thread later - we approached the bank again (via our mortgage broker) and they were more than…

13
1820
WesternFront
Dec 02, 2013 9:49 am
plc
plc
1 December 2013

Stamp duty payable and FHOG applicable in Victoria

Stamp duty payable and FHOG applicable in Victoria

My understanding is that the $750,000 limit is based on the construction cost only (fixed price building contract) when you purchase land separately to building. The land…

14
2026
plc
Dec 01, 2013 11:34 pm
Niccles
Niccles
30 November 2013

First home buyers in here

First home buyers in here

We are 22 & 25 and both first home buyers/builders. The block is 650 sqm and the house will be 2 story (due to the views available), got to buy…

5
992
Niccles
Nov 30, 2013 5:21 pm
robbie55
robbie55
19 November 2013

Finance with a FIFO partner

Finance with a FIFO partner

You can get most of the finance sorted wihtout him being around - if you use a broker or apply for a loan online you normally just have to supply a photocopy of ID signed…

1
1161
robbie55
Nov 19, 2013 4:25 pm
robbie55
jj1
jj1
4 November 2013

Australian First Mortgage - Advantedge

Australian First Mortgage - Advantedge

My first thought is how many Brokers does one need to get a loan ? You have one and I can't see where on earth these AFM people fit in unless they are a lender competing…

1
655
jj1
Nov 04, 2013 12:33 pm
Building_new_home
Building_new_home
1 November 2013

First Progress Payment

First Progress Payment

Oh wow, I haven't heard anything and it has been 3 weeks today. Might follow it up.

3
728
Building_new_home
Nov 01, 2013 2:30 pm


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