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MyH1Login
MyH1Login
16 October 2014

Stamp Duty Reduction for first home buyers in Victoria

Stamp Duty Reduction for first home buyers in Victoria

Just called SRO- Victoria You have bought a land that has settled on or after 01 Jul 2013 and paid full stamp duty. Then you have entered…

4
1176
MyH1Login
Oct 16, 2014 9:08 pm
MyH1Login
vivmak
vivmak
5 October 2014

Would you build with these finances?

Would you build with these finances?

Nobody else but you would need to find answer to the following question : Will the price of my current dwelling go up ir down in the time new house is being built? Also,…

7
1245
vivmak
Oct 05, 2014 7:40 pm
building-expert
building-expert
28 September 2014

Credit Report problems

Credit Report problems

I think it is not their qualifications that is an issue, they will have a degree or diploma, but the risk management. They will have to assume likely value in the event of…

13
1809
building-expert
Sep 28, 2014 8:15 am
building-expert
harryaustin
harryaustin
26 September 2014

Personal Finance Calculator: What do you use?

Personal Finance Calculator: What do you use?

These works really fine... I.m also using the one named "Loans Calculator For Australia" which is a smartphone app and makes every financial calculations with much ease.

1
1023
harryaustin
Sep 26, 2014 11:08 pm
CB Invest
CB Invest
22 September 2014

Value adding upgrades?

Value adding upgrades?

Hi, Adding value really depends on the property, the suburb, the attributes of the home and what the land can be used for. It all comes down to the comparable properties…

1
726
CB Invest
Sep 22, 2014 5:44 pm
plc
plc
16 September 2014

Knock down rebuild with an existing mortgage

Knock down rebuild with an existing mortgage

Yep, the construction is normally a separate loan during building drawn in stages, and then amalgamated into one at completion. As for LVR, it can go up to 95% LVR, but…

1
986
plc
Sep 16, 2014 12:14 am
travelbug
travelbug
14 September 2014

FHOG enquiry

FHOG enquiry

You can own an investment property (as long as you haven't lived in it) and still get the grant so I don't see how a block of land would be any different.

6
1390
travelbug
Sep 14, 2014 7:53 pm
shadowarrior
shadowarrior
10 September 2014

Ready cash calculation for purchasing land and building

Ready cash calculation for purchasing land and building

Hi Guys, Thanks for the replies. I think I was making the mistake of thinking that 5% deposit (real savings) needs to be deposited with bank which is on top of our cost…

3
895
shadowarrior
Sep 10, 2014 4:08 pm
trixee
trixee
10 September 2014

How long should a response from a mortgage broker take?

How long should a response from a mortgage broker take?

I'd ditch her and move on too. My broker answers all my emails pretty much straight away, bless her as I have been a little bit of a pest I think, been keeping in contact…

12
1694
trixee
Sep 10, 2014 1:06 am
trixee
bermuda23
bermuda23
9 September 2014

Construction loan questions

Construction loan questions

Yes, you're right. The loan is with Macquaire. The application fee and valuation is nil in their schedule of fees and charges. But this construction loan admin fee is very…

2
812
bermuda23
Sep 09, 2014 10:05 am
DarrenB
DarrenB
7 September 2014

GOOD broker in Melbourne?

GOOD broker in Melbourne?

Cheers for the replies. I will get in contact with them this week and see how we go. :)

3
854
DarrenB
Sep 07, 2014 11:01 am
plc
plc
4 September 2014

Low valuation - what to do?

Low valuation - what to do?
1, 2, 3

Ok thanks for that! When do you find out if it's been undervalued etc, when they come back with their finance offer? Does the bank actually tell…

45
12533
plc
Sep 04, 2014 12:01 am
archetto
archetto
3 September 2014

WA - FHOG & Stamp Duty refunds

WA - FHOG & Stamp Duty refunds

Found out we can apply for it now that we have a signed building contract but it doesn't get paid until the slab has been laid. When we get a letter in the mail that our…

2
715
archetto
Sep 03, 2014 3:43 pm
archetto
AussieMark
AussieMark
3 September 2014

westpac miscalculate interest

westpac miscalculate interest

Raise it to customer service and articulate what your instructions were. They will pull out what instructions they have on file and if they have wrongly charged you they…

5
957
AussieMark
Sep 03, 2014 1:41 am
Drekko
Drekko
1 September 2014

Can i afford to live in my home

Can i afford to live in my home

If you are planning on the property bring an investment property down the track then borrow the 90% and the LMI. Down the track when…

17
1687
Drekko
Sep 01, 2014 1:18 pm
Drekko
Cranzy
Cranzy
26 August 2014

Land first then construction - confusing calculation.

Land first then construction - confusing calculation.

The only variable will depend on your total "as if complete" valuation come construction time. So if you can retain the 20% equity in the land,…

6
1351
Cranzy
Aug 26, 2014 12:00 pm
Cranzy
Crazyk
Crazyk
11 August 2014

overcapitalisation ???

overcapitalisation ???
1, 2

Be careful with gifted funds if you plan to give them back. The lender will make them part of the loan. As the OP said, and you said yourself, he has no issue with…

27
2889
Crazyk
Aug 11, 2014 7:38 pm
Crazyk
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
1461
Seethe1
Aug 06, 2014 8:31 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
2304
bpratt
Jul 31, 2014 9:20 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
1721
plc
Jul 31, 2014 2:38 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
1466
KGsGirl
Jul 29, 2014 6:21 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
937
jb_money
Jul 21, 2014 4:39 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
981
joannek
Jul 15, 2014 11:09 pm
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
602
jane1970
Jul 05, 2014 5:55 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
1540
jb_money
Jun 23, 2014 11:34 am
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
891
LaceyM
Jun 03, 2014 1:49 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

13
1520
CH2012
Jun 02, 2014 8:48 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
1607
Beetaloo
May 30, 2014 9:16 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
4117
shape
May 29, 2014 7:50 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
1407
V1SHRNZ
May 26, 2014 4:26 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
980
shape
May 22, 2014 11:03 pm
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
732
Jamie M
May 21, 2014 12:25 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
1319
plc
May 09, 2014 12:23 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
722
becquack
May 05, 2014 9:05 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
793
bashworth
Apr 27, 2014 1:13 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
1102
lila rose
Apr 23, 2014 8:45 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
1201
Nibbles55
Apr 13, 2014 3:03 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
1783
archetto
Mar 27, 2014 12:46 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
967
shape
Mar 23, 2014 6:13 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
1727
shape
Mar 23, 2014 6:04 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
801
tsmith
Mar 05, 2014 10:20 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
1368
Treeseachanger
Feb 20, 2014 11:25 pm
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
1461
shape
Feb 20, 2014 10:08 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
1464
shape
Feb 20, 2014 10:04 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
1157
AussieMark
Feb 14, 2014 4:29 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
1379
jb_money
Feb 10, 2014 6:33 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
827
EmyN
Feb 06, 2014 10:40 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
1873
natlyn
Feb 03, 2014 3:06 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
1323
spamjam
Jan 29, 2014 4:18 pm
2
1126
Java Bean
Jan 27, 2014 6:02 pm

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