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Last Post
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
675
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
1263
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
636
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
706
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
1031
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
1039
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
1637
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
868
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
1439
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
749
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
1263
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
1328
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
1315
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
1038
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
1307
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
751
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
1606
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
1011
spamjam
Jan 29, 2014 4:18 pm
2
1067
Java Bean
Jan 27, 2014 6:02 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
1188
shanebailey
Jan 22, 2014 6:20 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
1555
Marmalade
Jan 22, 2014 6:40 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
2019
Salsaby
Jan 20, 2014 3:16 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
1148
KarenP27
Jan 20, 2014 10:37 am
4
925
KGsGirl
Jan 17, 2014 8:05 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
556
jb_money
Jan 15, 2014 8:28 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
1001
ugbug
Jan 06, 2014 10:45 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
2933
xueprojects
Jan 04, 2014 2:04 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
531
supadupa
Dec 20, 2013 9:19 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
1047
Darali
Dec 02, 2013 7:26 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
1774
WesternFront
Dec 02, 2013 8:49 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
1932
plc
Dec 01, 2013 10:34 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
955
Niccles
Nov 30, 2013 4:21 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
1159
robbie55
Nov 19, 2013 3:25 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
642
jj1
Nov 04, 2013 11:33 am
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
720
Building_new_home
Nov 01, 2013 1:30 pm
maf007
maf007
29 October 2013

Williams Landing Buying

Williams Landing Buying

Hi Check this out from RP Data. Also don't forget to download (FREE) full list of all the suburbs around Australia which talks about how each suburb has performed in the…

14
2128
maf007
Oct 29, 2013 2:03 pm
Rachi
Rachi
12 October 2013

Documents needed for Construction Loan

Documents needed for Construction Loan

thanks for the information guys, I'm feeling much more relaxed about it all now

5
854
Rachi
Oct 11, 2013 11:01 pm
MyH1Login
MyH1Login
2 October 2013

Different house price in final building contract

Different house price in final building contract

Well I'm glad you were able to lower the 10K down! On my estimate it says the price is valid for a site start prior to next year. I hope this means if site begins before…

13
1325
MyH1Login
Oct 02, 2013 11:24 am
MyH1Login
Mr Wolf
Mr Wolf
1 October 2013

Finance - anxious first home buyers

Finance - anxious first home buyers
1, 2, 3

To all the experts out there - I finally coughed up the money and paid $.69.95 and paid for my credit score. They…

51
4965
Mr Wolf
Oct 01, 2013 11:50 am
MrsG
MrsG
26 September 2013

Loan for things outside builders contract

Loan for things outside builders contract
1, 2, 3

Hi all, Not sure if anyone is still looking for information on this but we have recently met with our current bank, ANZ, and we have been told that when building a new…

45
5045
MrsG
Sep 26, 2013 10:58 am
snuck
snuck
25 September 2013

WA First Home Owners Grant - Effective 25/09/2013

WA First Home Owners Grant - Effective 25/09/2013

I was just coming to say "Commbank says this is GO" but your link is better!

9
995
snuck
Sep 25, 2013 2:24 pm
snuck
hOOPSNAKE
hOOPSNAKE
17 September 2013

Department of Housing as Genuine Savings

Department of Housing as Genuine Savings

It does. Thanks for taking to time to respond.

2
866
hOOPSNAKE
Sep 17, 2013 12:39 pm
pooks83
pooks83
15 September 2013

Resolve Finance

Resolve Finance
1, 2

I know what you mean _chylatte_. We went into it with $3000 but then it turned into $6500 just in the first 2 months. By settlement we would have paid $13000 (not…

38
4893
pooks83
Sep 15, 2013 6:47 pm
pooks83
hachy
hachy
5 September 2013

refinancing and valuations

refinancing and valuations

If you had less than 20% deposit did you pay LMI? Will you be borrowing more than 80% of the purchase +5% (ie value) with the new bank? Is the…

9
1411
hachy
Sep 05, 2013 10:25 pm
hachy
jb_money
jb_money
2 September 2013

Land then construction loan VS LAND/CONSTRUCTION Loan

Land then construction loan VS LAND/CONSTRUCTION Loan

It really depends on your situation as to which is the best choice. If you do not have plans / council approval / building contract etc then you pretty much have no…

2
1024
jb_money
Sep 02, 2013 11:18 am
plc
plc
29 August 2013

NEED HELP!!

NEED HELP!!

Hi Joh, It seems that your lender is limited to a LVR + LMI cap of 97%, hence why they are adjusting the figures to make your base loan less than a normal 95%…

5
706
plc
Aug 29, 2013 11:38 pm
joh040
joh040
28 August 2013

What are the chances... Land Loan Equity???

What are the chances... Land Loan Equity???

Interesting JB, think I'll scrape together another $5k then purchase a block. This way i can get the ball rolling, throw a deposit at the builders, choose a plan & site…

7
799
joh040
Aug 28, 2013 11:47 am
maximus
maximus
24 August 2013

signing a contract of sale

signing a contract of sale

Building envelope is just the permitted portion of the block on which you can build. This will be a combination of council and/or estate restrictions. Usually there are…

6
700
maximus
Aug 24, 2013 5:49 pm
maximus
jb_money
jb_money
21 August 2013

Going on holiday at same time as purchasing property?

Going on holiday at same time as purchasing property?

It really isn't a good idea to travel while buying a house, particularly for such a long time. However if you must... then try to do the…

1
525
jb_money
Aug 21, 2013 10:40 am


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