plcKnock down rebuild with an existing mortgage
16 September 2014
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…
shadowarriorReady cash calculation for purchasing land and building
10 September 2014
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…
trixeeHow long should a response from a mortgage broker take?
10 September 2014
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…
CranzyLand first then construction - confusing calculation.
26 August 2014
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,…
bprattCan anyone help with advise with a Land & Construction loan
31 July 2014
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…
plcHouse & land package vs land first-negotiate with a builder?
31 July 2014
If you like the block, you like the builder and you are happy with the plan (or the builder is happy to make changes)…
jb_moneyFHO - having trouble with vacant lot finance w CBA
21 July 2014
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…
jb_moneyFirst home buyer: expecting low valuation
23 June 2014
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…
LaceyMFINANCE or NOT heating&cooling & fencing & landscaping
3 June 2014
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…
shapeUnconditional Approval, but questions around settlement
29 May 2014
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…
V1SHRNZLender's mortgage insurance - how did you pay it?
26 May 2014
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…
Nibbles55Pursuing damages for buyers terminating unconditional contra
13 April 2014
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…
shapeLand, tender, finance - which order to do them in?
23 March 2014
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 &…
shapePaying rent affecting borrowing capacity to build? WTF
20 February 2014
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…
AussieMarkWhen does an investment property become a primary residence?
14 February 2014
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…
natlynChanging Job during home loan application
3 February 2014
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)…
MarmaladeLetter of Commencement, additional funds proof
22 January 2014
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…
SalsabyConditional to Formal Approval - Keystart
20 January 2014
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…
KGsGirlDo holding deposits form part of your overall Deposit?
17 January 2014
Our tender fees etc counted as part of our 5% deposit!