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becjarrettdalton
becjarrettdalton
27 November 2014

Land valuation @ The Ponds and Surrounds ..

Land valuation @ The Ponds and Surrounds ..

OK, so it can go one of two ways - the valuer could say at settlement it was worth the price you paid - and therefore give that value, or, hopefully it goes on comparative…

19
2558
becjarrettdalton
Nov 27, 2014 4:02 pm
becjarrettdalton
jb_money
jb_money
25 November 2014

Help for first home buyer!

Help for first home buyer!

Hi Steve, Yeah being a first home buyer is hard especially when you aren't sure where to even start. You generally need a minimum of 5% genuine savings + costs as a…

5
2009
jb_money
Nov 25, 2014 8:05 am
becjarrettdalton
becjarrettdalton
23 November 2014

Where to start for a two newbies!

Where to start for a two newbies!

HI, How far away is your build contract? What state are you building in? And what do you need to borrow as a percentage of the total cost, for example are you borrowing 80%?

19
2796
becjarrettdalton
Nov 23, 2014 1:01 pm
becjarrettdalton
Oak Laurel
Oak Laurel
20 November 2014

Land settlement fees

Land settlement fees

Hi there, your conveyancer is the one who will do all of the calculations and give instructions on who gets paid what amount on settlement. They will direct the bank to…

17
2027
Oak Laurel
Nov 20, 2014 7:57 pm
Oak Laurel
Oak Laurel
Oak Laurel
20 November 2014

Adding a pool to the mortgage?

Adding a pool to the mortgage?

Hi, usually having interest only a loan and not having paid down the loan much will not be a factor in the bank's criteria for extending your home loan. As Rebecca (above)…

4
1497
Oak Laurel
Nov 20, 2014 7:11 pm
Oak Laurel
Leksie5000
Leksie5000
16 November 2014

Construction loan advice

Construction loan advice

Thanks Tom this was my interpretation also.

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1623
Leksie5000
Nov 16, 2014 5:53 pm
emperor_j
emperor_j
15 November 2014

New home & land purchase - loan situation - questions!

New home & land purchase - loan situation - questions!

Hi, It is good to here that all things are sorted now, well-getting loan is very difficult thing to achieve. One of my friend has taken loan with the help of Eden Loans…

3
1246
emperor_j
Nov 15, 2014 9:33 am
5
1053
becjarrettdalton
Nov 10, 2014 10:52 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
10 November 2014

Construction Loan - All Approved BUT unexpected situation

Construction Loan - All Approved BUT unexpected situation

Hi Joshua, generally once the loan is approved and settled (even if only partially) the bank doesn't re-check your employment - they don't want to be stuck with a half…

5
1702
becjarrettdalton
Nov 10, 2014 8:10 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
10 November 2014

Include inclusions/upgrades in quote for Valuation?

Include inclusions/upgrades in quote for Valuation?

I absolutely agree, show the bank everything, you don't have to borrow more but if its included in the valuation it could even get you out of mortgage insurance territory…

2
829
becjarrettdalton
Nov 10, 2014 7:45 pm
becjarrettdalton
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
1214
MyH1Login
Oct 16, 2014 10:08 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
1277
vivmak
Oct 05, 2014 8:40 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
1901
building-expert
Sep 28, 2014 9:15 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
1045
harryaustin
Sep 27, 2014 12:08 am
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
750
CB Invest
Sep 22, 2014 6:44 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
1036
plc
Sep 16, 2014 1:14 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
1472
travelbug
Sep 14, 2014 8:53 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
933
shadowarrior
Sep 10, 2014 5:08 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
1786
trixee
Sep 10, 2014 2:06 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
831
bermuda23
Sep 09, 2014 11:05 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
890
DarrenB
Sep 07, 2014 12:01 pm
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
12755
plc
Sep 04, 2014 1:01 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
748
archetto
Sep 03, 2014 4:43 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
1043
AussieMark
Sep 03, 2014 2:41 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
1736
Drekko
Sep 01, 2014 2:18 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
1396
Cranzy
Aug 26, 2014 1:00 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…

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3115
Crazyk
Aug 11, 2014 8:38 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
1552
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
2378
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
1799
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
1538
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
976
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
1062
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
624
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
1593
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
909
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

13
1600
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
1671
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
4236
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
1472
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
1034
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
753
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
1342
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
754
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
815
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
1121
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
1273
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
1816
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
1010
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
1840
shape
Mar 23, 2014 7:04 pm
shape

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