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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
932
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
1354
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
3812
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
1501
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
638
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
2015
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…

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1138
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?

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1987
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
831
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
777
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
473
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
1308
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
1421
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
1502
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
774
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
1139
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
1246
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
946
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
1027
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
952
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
489
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…

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2974
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
911
meowsy
Apr 07, 2013 8:18 am
meowsy
30
2502
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
1943
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
1246
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
1011
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
1167
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
898
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
1010
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
1664
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
723
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
1367
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
834
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
5935
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
797
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
1023
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
937
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
816
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
492
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
1769
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
796
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
1598
plc
Feb 20, 2013 11:54 am
GDBHouse
GDBHouse
20 February 2013

Construction loan questions...

Construction loan questions...

Norman, thanks for your answer.

2
924
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
798
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
684
elberta7
Feb 14, 2013 7:42 pm
Tysonut
Tysonut
14 February 2013

Our chance?

Our chance?

Also, eligible for FHOG.

17
1344
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
1273
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
776
StepMamma
Feb 06, 2013 9:15 pm

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