Land first then construction - confusing calculation.
The only variable will depend on your total "as if complete" valuation come construction time. So if you can retain the 20% equity in the land,…
Can anyone help with advise with a Land & Construction loan
I think it is standard practice on most forums you visit these days. Due to spammers most forums won't let you send PM's until you've got past X many posts, which will…
House & land package vs land first-negotiate with a builder?
If you like the block, you like the builder and you are happy with the plan (or the builder is happy to make changes)…
FHO - having trouble with vacant lot finance w CBA
I advice you to contact and get to know all the required information about credits and interest rates. My cousin once used…
FINANCE or NOT heating&cooling & fencing & landscaping
If you bought in an estate read over the design guidelines, in ours we must have all visible works (front landscaping, letterbox, fencing) done within the first 3 months…
Unconditional Approval, but questions around settlement
14 days settles from date the notice was sere is common for Off the plan and vacant lands. 1. Try to get an extension to 21 days, it be less stressful for you. 2. Your…
Lender's mortgage insurance - how did you pay it?
LMI is capitalised onto the loan by the bank. However if you borrow more than 90% then the LMI amount shoots up drastically. Try to keep to a 90% lend as you will tend…
Pursuing damages for buyers terminating unconditional contra
Would you mind explaining why the agent is entitled to 50% of the deposit when the sale has fallen through? In NSW the commission does not get paid till settlement. I…
Land, tender, finance - which order to do them in?
Hi, Maybe a dumb question but we've got to start somewhere! We found a block and a design we like, but in order to finance the block &…
Paying rent affecting borrowing capacity to build? WTF
Hi ppl, Currently have a land mortgage with one of the big 4, have just attempted to apply for construction loan and they inform me that because…
When does an investment property become a primary residence?
I think it comes down to whether it is classed as a capital improvement. It is along time back since I had read the case law but I recall the test case was a dance studio…
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…
Do holding deposits form part of your overall Deposit?
Our tender fees etc counted as part of our 5% deposit!
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…
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…
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