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Last Post
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
747
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
681
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
870
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
1803
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
680
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
7915
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
867
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
1939
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
1656
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
1149
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
1050
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
748
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
1001
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
1158
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
1109
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
923
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
843
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
764
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
715
plc
Jun 17, 2013 4:51 pm
jtrain81
jtrain81
15 June 2013

Principal & Interest or Interest only - Primary Place of Res

Principal & Interest or Interest only - Primary Place of Res

Thanks guys. I thought this advice was dubious, given my mortgage broker shot it down, but just wanted to make sure. As you say, if it worked this way, everybody would…

3
901
jtrain81
Jun 15, 2013 10:16 am
oncewerefurriers
oncewerefurriers
11 June 2013

Who is your land loan with and why?

Who is your land loan with and why?

We went with ANZ. Having not been in Oz long (7 months) we thought it was going to be difficult getting a mortgage. I think it was made much easier because we'd banked…

13
1233
oncewerefurriers
Jun 11, 2013 3:56 pm
Agape
Agape
10 June 2013

How long for finance approval?

How long for finance approval?

I think it depends on a lot of things, we didn't think it would take long to get approval for the construction of our home (we already had the land). However -we have a…

15
3534
Agape
Jun 10, 2013 12:11 pm
plc
plc
7 June 2013

Bank declined loan and now vendor keeping deposit!

Bank declined loan and now vendor keeping deposit!

In most contracts the subject to finance clause should refer to a general condition which states the purchaser may end the contract if they have no loan approval as long…

2
1419
plc
Jun 07, 2013 2:31 am
Jeremybec
Jeremybec
5 June 2013

Loans for kit or flat pack homes

Loans for kit or flat pack homes

We're planning on buying land and putting a flat pack home on it (hiring a builder to install it) but what I'm reading about financing for this type of thing is making me…

0
604
Jeremybec
Jun 05, 2013 9:36 pm
Stig
Stig
28 May 2013

Views: Fixed Loan Vs Variable ?

Views: Fixed Loan Vs Variable ?
1, 2

Heres my 2 cents on fixed vs variable Fixed Rates Good Bits - Your interest rates are fixed in (and if rates go up … who cares) and the monthly repayments remain the…

24
1808
Stig
May 28, 2013 11:27 pm
AussieMark
AussieMark
28 May 2013

Commercial loan and line fees

Commercial loan and line fees

I don't think that you would get a blended loan for a warehouse as the loan is for a warehouse not residential. The collateral could be a mix of several items. Stig is…

6
888
AussieMark
May 28, 2013 9:45 am
jcbissor
jcbissor
24 May 2013

just starting out - Need help to understand the process

just starting out - Need help to understand the process

Posting to follow your thread.. We're about to sign with Goodlife on Sunday. Our block deposit happens on Monday. Which goodlife design are you building?

18
1768
jcbissor
May 24, 2013 11:20 pm
jcbissor
pooks83
pooks83
24 May 2013

Can anyone help a FHO please

Can anyone help a FHO please

Hey Aaron_C, Many banks now will not have the genuine savings criteria when it comes to builds. The flavour of the year is "low deposit homeloans" which is the reason my…

3
774
pooks83
May 24, 2013 7:39 pm
pooks83
mjmelb
mjmelb
21 May 2013

Success and failures for new home & land finance

Success and failures for new home & land finance

Thanks Shahin A, I guess I just want to know if people in the Epping area have had valuations come in at build price. I used to work in a Home Loan Centre so am confident…

2
749
mjmelb
May 21, 2013 10:27 am
mjmelb
jcbissor
jcbissor
20 May 2013

Build Finance WA

Build Finance WA

Hi, has anyone gone through Build Finance in WA for their homeloan? Really keen to hear from anyone who has! Sarah

0
438
jcbissor
May 20, 2013 6:23 pm
jcbissor
Scotty Dog
Scotty Dog
16 May 2013

Seperate loans for land and construction?

Seperate loans for land and construction?

We are building our house with 2 x loans, a separate one for the land and a construction one for the house. This is because we originally bought the land with a house on…

4
1201
Scotty Dog
May 16, 2013 2:02 pm
navs
navs
15 May 2013

Using home loan for furnishings

Using home loan for furnishings

Our mortgage broker said if we had specific items and quotations eg - spa, paving, fencing and gave them to her now we could get them paid out directly by the bank to…

7
1313
navs
May 15, 2013 6:16 pm
plc
plc
6 May 2013

Unconditional loan on unregistered land

Unconditional loan on unregistered land

I'm not familiar with RAMS policy but most likely their thinking is that as the land isn't expected to title until at least 3 months away, any valuation done now will…

5
1297
plc
May 06, 2013 8:00 pm
plc
plc
3 May 2013

FHOG Application for house+land pkg

FHOG Application for house+land pkg

I would tend to agree with you as off the plan generally means the finances settle on the date you move in, and new home suggests it has already been built. However just…

2
635
plc
May 03, 2013 2:50 pm
Shahin A
Shahin A
2 May 2013

Suncorp

Suncorp

Suncorp are great - their biggest problem is their borrowing capacity. They have one of the most conservative servicings.

2
958
Shahin A
May 02, 2013 11:06 pm
fmac
fmac
30 April 2013

savings and offset

savings and offset

And at the moment with the ing everyday account you get 5% back on all purchases under $100 made with pay wave (have saved over $100 in the last few months!) The offset…

9
1049
fmac
Apr 30, 2013 4:11 pm
K4neX
K4neX
26 April 2013

Home Loan and draw down

Home Loan and draw down

Thank guys for the tips. jb_money, thank you for the reminder. I am going to get a pre-approval for the whole construction cost even though I may be able to cover part of…

3
874
K4neX
Apr 26, 2013 11:34 am
plc
plc
22 April 2013

Investment property questions

Investment property questions

Thanks, jb_money! Out of curiosity, I just went onto Westpac's website and used their equity calculator, and it tells me I have no…

9
970
plc
Apr 22, 2013 8:14 pm
surfprado
surfprado
15 April 2013

Before buying a block of land, did you have it inspected?

Before buying a block of land, did you have it inspected?

I asked for engineering plans before i signed. The agent said it had no services running thru the block. Guess what? 1.2m storm water drain running thru the back of the…

3
921
surfprado
Apr 15, 2013 6:57 pm
surfprado
5ully
5ully
12 April 2013

Byford consider metro or Reginal with Keystart

Byford consider metro or Reginal with Keystart

Hey all, I am new to house building or even buying a house and have decided to go through Keystart. I have been advised that Byford is consider Regional for Keystart…

0
451
5ully
Apr 12, 2013 6:26 pm
nnsha1
nnsha1
11 April 2013

RE: URGENT Help/Info needed!!! Please - CBA Home Loan Appli

RE: URGENT Help/Info needed!!! Please - CBA Home Loan Appli

Hello ALl, thanks for your all contribution and different prospective. I do apologies for a late response here, but finally i got my pre-approval done without any further…

10
2702
nnsha1
Apr 11, 2013 10:29 pm
nnsha1
meowsy
meowsy
7 April 2013

Deposit and post handover costs question

Deposit and post handover costs question

xxkat, fair enough. I spoke to my lender, and he said it wasn't a problem to keep $20k aside for post handover.

4
843
meowsy
Apr 07, 2013 8:18 am
meowsy
30
2267
Munchy
Apr 05, 2013 10:23 pm
Munchy
Zads
Zads
5 April 2013

Home & Land Package

Home & Land Package

Replying to this so I have the thread on hand. Thanks.

7
1837
Zads
Apr 05, 2013 10:19 pm
xxkatxx
xxkatxx
5 April 2013

Roadblock

Roadblock

That's no good :( maybe just buy the block of land and sell it a little bit after its titled if its possible? Not sure what the market is like over there but here in WA i…

10
1109
xxkatxx
Apr 04, 2013 11:08 pm
Homebody99
Homebody99
2 April 2013

Are we going overboard with our budget

Are we going overboard with our budget

If thats your financial status now without you working then saving $1000 a month - with you still not working (being home with bub) and owning your own home based on the…

3
992
Homebody99
Apr 02, 2013 2:06 pm
Dunco
Dunco
2 April 2013

Valuing your Home before Construction

Valuing your Home before Construction

Im going through a similar situation where the bank has had a valuation done on our home to be constructed. The feedback we have received from the bank is that they look…

6
1088
Dunco
Apr 02, 2013 6:48 am
colebatchd
colebatchd
27 March 2013

How did you decide when to stop spending??

How did you decide when to stop spending??

I have this conversation with my wife all the time. I'd say there are two points to consider: 1. The resale value added by the spend, as others have said above. 2. The…

4
787
colebatchd
Mar 27, 2013 1:46 pm
plc
plc
19 March 2013

Am I likely to be approved for a home loan?

Am I likely to be approved for a home loan?

Hi death2thepixies, Lenders nowadays work to their own serviceability calculations, the 30% rule of thumb is more from a personal point of view, and is there because just…

1
974
plc
Mar 19, 2013 2:49 pm


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