AU
Does Everyone go Over Budget??Funnily enough we came in under budget, only by about $500 but still under. It was on account of the builder over estimating what was required like they estimated we'd… Mortgage BrokerThanks Bec for the recommendation.
Yes, Werribee is in my zone of service, so the OP can contact me if they want.
Cheers
Tom plc replied 10 April 2015 ago Increasing Borrowing PowerVery good reads. Extremely informative. Thanks for that Bec.
I hope moving from the car loan onto the new personal loan doesn't affect my prospects too much. But I think… sprakk replied 19 March 2015 ago Rams or Westpac??They are independent and have completely different policies so you may fit better with one than the other. pricing is similar and fees too. They're neither of the the most… Query about land and construction loanHi Mansawant - they do a valuation on the complete package - what the finished house on the land is worth. If you have equity in the land and a large deposit for the build… Question about home loan and untitled landyour solicitor will want you to have an approval by that date or rescind the contract - or explain the repercussions in regards your deposit of you don't get finance in… 2nd home loanYou don't say the value of the current house so no idea on what equity you have in that house.
So you have the deposit for the next purchase?… Ponzu replied 10 March 2015 ago PonzuMar 10, 2015 3:08 pm Saving money on your home loanHi First_sale,
Both Bec and jb_money are right.
If you want to pay off your home loan, you have to pay extra money into your loan. The choice depends on your strategy… Reasonable Conveyancer Pricing & Practise?I paid $990 (each) to sell a house and buy a block of land in the middle of 2013 (in NW Sydney). Around $1000 was fairly common in NW Sydney at the time.
I would have no… Matt1 replied 9 February 2015 ago Matt1Feb 09, 2015 7:26 pm Credit Report - Consumer Credit EnquiriesThanks so much for your replies! I only have 2 inquiries for last year (none in the last 6 months) and none for this year so sounds like I should be okay. I wonder why my… Getting loan while pregnantWell, my thought on that is it's not impossible she was right, it's also not impossible she was wrong, bank staff are under a lot of… CUA construction loanGlad to know you had a great broker and got there - that I LOVE to hear, it's why I love my job!
FIFO is tough, you do it for a reason, shouldn't be the reason you aren't apprved. Help, what would you do??Wanted to cover all bases! Would love to avoid renting if we could, but do accept it may be the way things have to be.. Bank val for construction loansI absolutely understand!
There's only one way to find out - get your broker to order a valuation and see what you're working with.
There are lenders who will consider up… Progress PaymentsYep, exactly, if they're satisfied the work is done - and yes your repayments creep up a little with each progress payment - you should be paying interest only on the plan… Having one Loan for Land and HouseHi There,
You can do a land loan first with most lenders with a 5% deposit depending on valuation and then do another one just for the build.
In total it can work out to… In a bit of a dilemma...Oh no, the point is if it's not needed the builder varies it back out - it's a simple fix and often done. Not a cent more is spent than needs to. Happy to explain to… MortgagehouseAhhh, how big is the footprint? Get the builder to lay your plans on there so you get the aspect. Need room for a swing set or a trampoline! 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… 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… 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%? Land settlement feesHi 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… 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)… 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,… vivmak replied 5 October 2014 ago Credit Report problemsI 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… 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… Knock down rebuild with an existing mortgageYep, 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… plc replied 16 September 2014 ago FHOG enquiryYou 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. Construction loan questionsYes, 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… Low valuation - what to do?
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… plc replied 4 September 2014 ago WA - FHOG & Stamp Duty refundsFound 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… westpac miscalculate interestRaise 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…
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