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Last Post
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
853
meowsy
Apr 07, 2013 8:18 am
meowsy
30
2288
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
1858
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
1121
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
994
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
1100
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
802
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
978
plc
Mar 19, 2013 2:49 pm
Homebody99
Homebody99
16 March 2013

No Deposit Home Loans

No Deposit Home Loans

If you have low personal debt & high income then you could go borrow $20k. put it in the bank & add to it as much as you can over next 3 months - this shows 3 months…

4
1503
Homebody99
Mar 16, 2013 4:45 pm
kiska
kiska
12 March 2013

First timer with question about FHOG and HCG

First timer with question about FHOG and HCG

Thanks for the replys I just wrote a long answer but lost it so Ill put down what i remember... We cant change banks because before we applied for this loan we asked…

3
711
kiska
Mar 12, 2013 8:55 am
kassan1973
kassan1973
9 March 2013

Capital Gains Tax

Capital Gains Tax

So long as you live in the house and it is your primary residence there will be no CGT.

6
1255
kassan1973
Mar 09, 2013 6:20 pm
Pellana
Pellana
9 March 2013

Construction loan - cost plus rennovation contract

Construction loan - cost plus rennovation contract

Our bank would not accept a cost plus contract - only fixed. I would talk to your builders and see what can be arranged. Ultimately with a cost plus contract it will…

1
796
Pellana
Mar 09, 2013 4:28 pm
Mil-24 Hind
Mil-24 Hind
5 March 2013

Builder Trying To Borrow To Build Own Home - Impossible?

Builder Trying To Borrow To Build Own Home - Impossible?
1, 2

Hi Everyone, Banks dont like builders building their own homes simply because if something goes wrong.. the builders insurance isnt worth…

24
5583
Mil-24 Hind
Mar 05, 2013 11:19 am
travelbug
travelbug
4 March 2013

CGT, Offset account and Tax

CGT, Offset account and Tax

You can't refinance and just make it higher. Well you can but it's not legal to claim it all as tax deductable. People…

5
733
travelbug
Mar 04, 2013 4:20 pm
meowsy
meowsy
4 March 2013

Buying land before settlement of current home?clauses?

Buying land before settlement of current home?clauses?

Thanks for the input. What you are saying makes total sense. I don't really want the added pressure as you have described. From what I gather many developers won't put the…

2
948
meowsy
Mar 04, 2013 6:45 am
meowsy
Tysonut
Tysonut
2 March 2013

Deposit on new home contract = equity?

Deposit on new home contract = equity?

Thanks. That was my thinking. Broker gave us the go ahead for a construction loan based on current financial situation. So we have the land and just progressing toward a…

6
894
Tysonut
Mar 02, 2013 9:06 pm
Tysonut
plc
plc
26 February 2013

House valuation before construction

House valuation before construction

Banks have a few valuers on their panel which can be use, not just the one, so you might get a good one or vice versa. Cheers Tom

4
760
plc
Feb 26, 2013 12:01 pm
apk150
apk150
25 February 2013

Is anyone building at Farmingdale, Blacktown?

Is anyone building at Farmingdale, Blacktown?

Hi, I'm looking to buy a house at Farmingdale, Blacktown. Can anyone give their inputs about the suburb, esp. safety issues as I see mixed reviews in the internet? Thanks, PK

0
460
apk150
Feb 25, 2013 12:05 pm
jkelleher01
jkelleher01
24 February 2013

Casual worker = no finance?

Casual worker = no finance?

I think everybody else agrees that with you partner working full time and having a large deposit, you are looking in great shape for a loan. There should not really be a…

7
1668
jkelleher01
Feb 24, 2013 5:37 pm
plc
plc
20 February 2013

Has anyone every had this home loan application experience?

Has anyone every had this home loan application experience?

Hi Sandy, What I notice a lot of times is the lender will go through the applicants credit history and if they see they have applied for any recent credit, i.e. credit…

1
750
plc
Feb 20, 2013 10:24 pm
plc
plc
20 February 2013

Construction Loan

Construction Loan

Hi Natlyn, Issue with land that is settling a year into the future is that most lenders approvals only last about 3 months, so getting a pre-approval now won't last…

7
1517
plc
Feb 20, 2013 11:54 am
GDBHouse
GDBHouse
20 February 2013

Construction loan questions...

Construction loan questions...

Norman, thanks for your answer.

2
905
GDBHouse
Feb 20, 2013 10:02 am
Tysonut
Tysonut
15 February 2013

Loan using part gift and rental History

Loan using part gift and rental History

Cheers Tom. Looks like that's the way we'll do it. Will try for the estimated total for pre approval also. Thanks again.

4
745
Tysonut
Feb 15, 2013 7:49 pm
Tysonut
elberta7
elberta7
14 February 2013

Financing a house & land package already under construction

Financing a house & land package already under construction

Thanks Tom-looks like we might have to go down that route-all the better if we get what we want at the end of the day.

4
619
elberta7
Feb 14, 2013 7:42 pm
Tysonut
Tysonut
14 February 2013

Our chance?

Our chance?

Also, eligible for FHOG.

17
1174
Tysonut
Feb 14, 2013 1:28 pm
Tysonut
Marmalade
Marmalade
8 February 2013

Equity in existing home, buying land and house separately?

Equity in existing home, buying land and house separately?

Managed to do this through a mortgage broker.. PLC gave us some excellent tips for which we are most grateful! We refinanced the existing home loan to enable the 100k in…

4
1212
Marmalade
Feb 08, 2013 7:34 am
StepMamma
StepMamma
6 February 2013

Settlement Debarcle - Need advice please

Settlement Debarcle - Need advice please

Hi, dragonchild and plc. Thanks for your replies. Much to our relief westpac have lifted the caveat and settlement is booked for tomorrow. We have settlement agents…

3
700
StepMamma
Feb 06, 2013 9:15 pm
mjmelb
mjmelb
6 February 2013

Interest only loans

Interest only loans

Its correct. If you pay more than the interest amount, its just like paying the principal, however the extra you've paid will be available in a 'redraw', rather than…

8
823
mjmelb
Feb 06, 2013 11:20 am
mjmelb
shape
shape
5 February 2013

Building loans, does my bank know what it's doing?

Building loans, does my bank know what it's doing?

The loans should be separate- Land loan settles first than the build loan later on...unless the bank officer/broker structured the loan as a package and submitted both…

8
790
shape
Feb 05, 2013 1:22 pm
shape
shape
shape
5 February 2013

First home buyer

First home buyer

Hello everybody, We have just started thinking about buying a house here and it is when doing some research on the net that I came across this forum…

7
780
shape
Feb 05, 2013 1:16 pm
shape
spencer0281
spencer0281
4 February 2013

provisional allowance and fhog cap

provisional allowance and fhog cap

Hey jb_money, Thanks for your reply. We where hoping that this was the case. Again thanks for your help. Cheers

2
570
spencer0281
Feb 04, 2013 6:23 pm
StubaJay1
StubaJay1
29 January 2013

Late bills affecting credit report

Late bills affecting credit report

Thanks for the reply Tom! All bills were paid within a week or so of being due so hopefully it hasn't affected us as our circumstances have sorted themselves out and we…

2
582
StubaJay1
Jan 29, 2013 4:13 pm
StubaJay1
Room2Breathe
Room2Breathe
29 January 2013

Unsure of loan reqs & other. Help please?

Unsure of loan reqs & other. Help please?

oh spoke to them, its only a small bank & she remembered us (which is good! lol) She said it should all be fine to do it that way, provided we DO pay off the debts etc, &…

9
700
Room2Breathe
Jan 29, 2013 9:28 am
plc
plc
24 January 2013

Have i screwed up?

Have i screwed up?

Nah. I had the same thing with an ANZ account, where I took all the money out and forgot about it, and they charged the $5 service fee and…

4
956
plc
Jan 23, 2013 11:32 pm
plc
plc
19 January 2013

First Home/ Investment Question

First Home/ Investment Question

Yep, doesn't matter how long it is rented for, any expenses associated with the property while you are renting it out can be claimed. So for the 6 months you can claim…

2
402
plc
Jan 19, 2013 12:11 am
staceyd
staceyd
15 January 2013

Financing a double block

Financing a double block

Thanks for the replies, We're struggling to find a lender who will come to the party. As they won't finance subdivision costs we can't throw in all our deposit, which…

3
576
staceyd
Jan 15, 2013 12:26 pm
plc
plc
13 January 2013

Buying Land Only in Sydney - 3 Questions

Buying Land Only in Sydney - 3 Questions

Hi Tom, Thanks for your help it is appreciated and has clarified a lot of things. One other question i had was in relation to stamp duty on…

7
632
plc
Jan 13, 2013 2:07 pm
shape
shape
12 January 2013

Getting a home loan with lousy credit history

Getting a home loan with lousy credit history

Suncorp, ING, Citibank etc...there's a lot. To be honest no point listing them all as you need to find one that FITS your situation rather then " apply and hope for the…

7
929
shape
Jan 12, 2013 4:28 pm
shape
plc
plc
4 January 2013

construction loan for renovations - the initial valuation

construction loan for renovations - the initial valuation

Definitely construction loan then. Just need to be aware that because the extension will cost about 300K doesn't mean that it will add $300K to the valuation, the value…

4
658
plc
Jan 04, 2013 3:05 pm
Miss Mia
Miss Mia
3 January 2013

Help? Title/settlement of land and how to pay?

Help? Title/settlement of land and how to pay?

Cross collaterising won't make a 90% LVR loan decrease to 80% LVR Magically....it's just the way the loan is structured and a simple game of…

12
1021
Miss Mia
Jan 03, 2013 8:21 pm
jb_money
jb_money
3 January 2013

Anyone know RAMS policy?

Anyone know RAMS policy?

Last copy of Rams policy I have (2010) says that bonus is unacceptable income. However note that sometimes…

3
1035
jb_money
Jan 03, 2013 3:28 pm
jb_money
jb_money
18 December 2012

Home Loan Structure

Home Loan Structure

Namz if you want to have a higher proportion of your payments as principal in the early years then you just have to make extra repayments. Making extra repayments is the…

2
626
jb_money
Dec 18, 2012 2:24 pm
mynameisjonas
mynameisjonas
5 December 2012

Keystart new loan limit $450k 2% dep

Keystart new loan limit $450k 2% dep

But that argument doesnt make sense.. because for the majority of families these days, if something happens in their life whether they paid a…

19
2963
mynameisjonas
Dec 05, 2012 5:02 pm
stellabella
stellabella
26 November 2012

Finance

Finance

When we were going through the process of getting finance, etc, we'd had so much trouble from the bank who lost a few of our forms and things like that, and ended up with…

4
737
stellabella
Nov 26, 2012 8:37 pm
stellabella
plc
plc
25 November 2012

Tax deductible if building an investment property to sell?

Tax deductible if building an investment property to sell?

Same as the rental answer. Need to prove to the ATO in case you get audited that the intention was to rent the place before you decided to sell it. The property history as…

6
1289
plc
Nov 24, 2012 11:36 pm
leisadent
leisadent
17 November 2012

help! condition of property holding back loan approval

help! condition of property holding back loan approval

I got the unconditional approval anyway! The LMI people were satisfied that I have extra savings to cover essential repairs. I'm going ahead with the building inspection…

3
654
leisadent
Nov 17, 2012 9:28 am
notremaison
notremaison
17 November 2012

We are stuck...bad valuation

We are stuck...bad valuation

We bought a property at a really good price a few years ago now. Full renovated 2 bedroom off street car park in a small block. Perfect investment, we went back to the…

16
4331
notremaison
Nov 17, 2012 5:07 am
bears-bub
bears-bub
1 November 2012

CS Legal

CS Legal

uh oh, Honeywood use CS Legal! Might have to look around while I can...

2
907
bears-bub
Nov 01, 2012 8:28 pm
shape
shape
31 October 2012

Circle Credit Union

Circle Credit Union

They are mortgage mangers for a variety of credit unions, meaning they don't lend their "own" funds...they are just the middle man- which is fine... There Construction…

2
953
shape
Oct 31, 2012 5:18 pm
shape


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