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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
1259
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
1936
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
2348
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
1248
KarenP27
Jan 20, 2014 10:37 am
4
962
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
643
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
1015
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
3085
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
568
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
1085
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
1981
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
2218
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
1048
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
1176
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
697
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
812
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
2229
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
889
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
1419
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
5252
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
5361
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
1112
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
946
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
5187
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
1478
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
1070
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
778
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
901
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
723
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
561
jb_money
Aug 21, 2013 10:40 am
sands_13
sands_13
20 August 2013

Understanding loan break downs

Understanding loan break downs

Thank you all for the good advice, some more reading and research to do now.

4
797
sands_13
Aug 20, 2013 9:10 pm
sands_13
tomking.chen
tomking.chen
19 August 2013

How long do I have to wait to re-finance

How long do I have to wait to re-finance

Thanks. I may just have to wait a bit and remove some things from our to-do-list to lower the cost for now.

2
722
tomking.chen
Aug 19, 2013 9:46 am
tomking.chen
jb_money
jb_money
15 August 2013

Family guarantee - overseas property

Family guarantee - overseas property

Hey Jeremy, You could try seeing if a family member in NZ can get a loan on one of their properties and then lend this to you as a deposit. This is not an ideal option…

6
968
jb_money
Aug 15, 2013 1:29 pm
jb_money
jb_money
15 August 2013

$420/week disposable income - is this enough?!

$420/week disposable income - is this enough?!

Affordability is a tough one to work out. To be honest to figure it out properly then we'd really need to see everything (gross income, debts, etc) as we stress test the…

9
2208
jb_money
Aug 15, 2013 1:25 pm
jb_money
jb_money
15 August 2013

Fhog

Fhog

Yeah a lot of banks have problems with their processes for the first drawdown, particularly when they are also processing a FHOG. You need to stay on top of them and…

3
770
jb_money
Aug 15, 2013 1:18 pm
joh040
joh040
8 August 2013

Required deposit % to purchase land???

Required deposit % to purchase land???

Excellent, i have a much clearer understanding. Thanks again Tom for your help.

5
8745
joh040
Aug 08, 2013 9:31 am
laura250blue
laura250blue
7 August 2013

Help! Will this effect my home loan

Help! Will this effect my home loan

Haha, I will give you that one. It did make me flare up and call Westpac straight away! So I guess I should thank you. ;)

7
937
laura250blue
Aug 07, 2013 12:52 pm
jb_money
jb_money
5 August 2013

Non-applicant spouse that is self-employed (UPDATE)

Non-applicant spouse that is self-employed (UPDATE)

Congratulations!!! That is great news Dant. Commonsense lending is hard to come by these days. However it seems like you found one of them which can accept one year…

13
2261
jb_money
Aug 05, 2013 6:17 pm
Di Nosaur
Di Nosaur
27 July 2013

Waiving finance clause on land contract

Waiving finance clause on land contract

Wow, where are you? My land ppl just took $1000 and wanted finance within 28 days of title.

6
1732
Di Nosaur
Jul 27, 2013 1:47 am
plc
plc
22 July 2013

Another construction loan Q - re: finance timeframe

Another construction loan Q - re: finance timeframe

Hi Dant, It's likely that the land and construction loans will be two separate applications however they can be submitted at the same time. You aren't able to obtain…

4
1234
plc
Jul 22, 2013 1:03 am
MyH1Login
MyH1Login
13 July 2013

Rate question

Rate question

Hi jb_money That was a great post, worth more than 2 cents, really benefited me. Thanks!

5
1264
MyH1Login
Jul 13, 2013 11:29 pm
MyH1Login
tezzab
tezzab
9 July 2013

estimating

estimating

The TAFE copy is always a bit out of date! Will check with Hanna, maybe negotiate a 1 year licence :sh: From 3rd party comments, standard pricing would be out of reach. I do…

2
798
tezzab
Jul 09, 2013 7:36 pm
tezzab
jellybelly
jellybelly
2 July 2013

Loans.com.au reviews ?

Loans.com.au reviews ?

Call into your bank and express your concerns about the rate you are on, comparing theirs that they are giving you, to the one you are seriously considerring moving…

1
1138
jellybelly
Jul 02, 2013 10:21 pm
navs
navs
2 July 2013

Construction loan

Construction loan

If you know you are definitely going to upgrade something, just get everything costed and put into your contract now. We knew we wanted full length windows, stone…

4
1244
navs
Jul 02, 2013 1:39 pm
xxkatxx
xxkatxx
1 July 2013

What happens to "left over" money on loan

What happens to "left over" money on loan

we have the exact scenario as you...we finally got an answer that we would have to provide the invoice to the bank and draw from the loan just like a progress payment for…

2
1153
xxkatxx
Jul 01, 2013 8:29 pm
addisont
addisont
30 June 2013

Newhere - Conditional Approval given - then not

Newhere - Conditional Approval given - then not

We had the same issue of conditional approval being renegged on by the bank. In the end it all got sorted, but we had a rant through the bank's complaint system, and had…

5
1036
addisont
Jun 30, 2013 1:26 pm
plc
plc
30 June 2013

Westpac Discount %?

Westpac Discount %?

The other thing you might want to take note of is that the Westpac standard variable rate is the highest of the majors by at least 0.1% from the others. So a 1% discount…

3
962
plc
Jun 30, 2013 2:10 am
Stig
Stig
29 June 2013

What to look out for in mortgage documents?

What to look out for in mortgage documents?

Hi Pooks83 Look for the following 1. Early Payout Costs/refinance costs - Most banks have removed these now. For example if you take out a annual package fee (which…

1
821
Stig
Jun 29, 2013 11:43 pm
plc
plc
17 June 2013

When does the deposit become due ?

When does the deposit become due ?

Depending on what your deposit is and LVR, you might have to fork out at both stages. When you buy land, you will need a deposit when buying that and then a loan for the…

1
761
plc
Jun 17, 2013 4:51 pm

Home Safety Store posted a promotion
5 months
10% Off Pinkerton 8CH 1080P HD CCTV Kit & 4 x IP66 Bullet Cameras

Enjoy a 10% discount off the Pinkerton 8CH 1080P HD CCTV Kit & 4 x IP66 Bullet Cameras. Offer valid while stocks last.

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