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Home Finance
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Last Post
shape
shape
13 September 2012

Construction loan

Construction loan

Hi i am going to apply for a construction loan with homestart,we are borrowing $120,000 after we have put a dep of $30,000 down,is a…

10
2916
shape
Sep 13, 2012 5:08 pm
shape
crystarr
crystarr
10 September 2012

Builder Needing Proof of Finances

Builder Needing Proof of Finances

Seems like different people have had different experiences - thanks for your input guys. Was just wondering what everyone else had to do...

9
1053
crystarr
Sep 10, 2012 1:09 pm
plc
plc
9 September 2012

First house - mortgage questions

First house - mortgage questions

tompab, as mentioned by travelbug, if getting a variable rate, look at getting an offset account linked to your home loan instead of relying on redraw. An offset account…

5
1114
plc
Sep 09, 2012 3:58 pm
plc
plc
7 September 2012

Land Price Negotiations

Land Price Negotiations

It doesn't hurt to ask, and see what they say. As for demand, one way of telling is how long they have been on the market. If they're newly released, might be worthwhile…

3
1178
plc
Sep 07, 2012 6:33 pm
macmaz
macmaz
6 September 2012

Can we pay Holding Deposit through Credit Card?

Can we pay Holding Deposit through Credit Card?

Thanks for your replies guys. I have read else where bank doesn't really care how much balance you'd have on your credit cards. It will only check your limits. And…

8
1341
macmaz
Sep 06, 2012 5:17 pm
Konrad
Konrad
26 August 2012

Questions on construction valuation and stockland contracts

Questions on construction valuation and stockland contracts

Hi all, Been reading through alot of the valuable info available on this forum but thought i'd sign up so I could ask a couple of questions specific to my current…

0
597
Konrad
Aug 26, 2012 9:14 pm
laser
laser
23 August 2012

sell/rent/build/move, advice?

sell/rent/build/move, advice?

We did your Option 2 (sorta) .... bridging finance to buy the land, sell our current house, rent between the sale and the completion of the build, then move in to the new…

4
1066
laser
Aug 23, 2012 10:33 am
Echo2k3
Echo2k3
22 August 2012

Confused-conditional approval

Confused-conditional approval

That makes much more sense. Thank you so much plc!

4
898
Echo2k3
Aug 22, 2012 2:35 am
leighton
leighton
20 August 2012

are deposits to builders refundable?

are deposits to builders refundable?

you should definitely seek legal advice as it could be worse than not getting your deposit back . good luck leighton

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1653
leighton
Aug 20, 2012 1:01 pm
leighton
Caz76
Caz76
19 August 2012

Bank evaluation problems? Anyone has been under-evaluated?

Bank evaluation problems? Anyone has been under-evaluated?
1, 2

Yeah I had trouble with BW who had the valuation done and it came back at 2k less than what I am paying for the house and there was a comment by the valuer that land…

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4434
Caz76
Aug 19, 2012 2:19 pm
Ian Black
Ian Black
17 August 2012

Paying 5% Deposit on land

Paying 5% Deposit on land

Just be careful to make sure the bank has acknowledged funds paid to the builder so they can adjust the net amount available for your loan settlement. For example if you…

7
1490
Ian Black
Aug 17, 2012 1:05 pm
Ian Black
Ian Black
Ian Black
17 August 2012

Quotes required for mortgage on a new build?

Quotes required for mortgage on a new build?

Most banks will want more than just a tender price as it doesn't provide a fixed price nor does it provide the progress payment schedule that the banks must ensure is…

11
2025
Ian Black
Aug 17, 2012 1:02 pm
Ian Black
greenfish
greenfish
12 August 2012

interest only loan

interest only loan

We have interest only as well and have so far managed to keep an offset account going. I transfer money in and out as need be - figuring even if its only in there a few…

9
1465
greenfish
Aug 12, 2012 9:57 am
greenfish
smorgzzz
smorgzzz
10 August 2012

First home owners grant (NSW)

First home owners grant (NSW)

Or perhaps it's to stimulate the struggling construction industry in…

11
1303
smorgzzz
Aug 10, 2012 8:32 am
smorgzzz
shape
shape
7 August 2012

Best bank for a home loan?

Best bank for a home loan?
1, 2, 3

^ gonecountry - Spot on.

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6105
shape
Aug 07, 2012 10:57 pm
shape
winglilian
winglilian
6 August 2012

Question about caveat title

Question about caveat title

Thanks so much for your reply, much appreciated!!!

4
693
winglilian
Aug 06, 2012 10:03 am
plc
plc
31 July 2012

We're Building.. Do we sell our first home or rent it out???

We're Building.. Do we sell our first home or rent it out???

Thanks heaps for the input guys, much appreciated. I never considered an "interest Only Loan" that would be appealing as it would bring the…

7
903
plc
Jul 31, 2012 1:15 am
Marcoola32
Marcoola32
30 July 2012

Home Budget

Home Budget

This is a pretty broad question but I'll attempt an answer, it also depends on your supplier and location too. We are a couple, going to be living in a 32sq home with…

1
837
Marcoola32
Jul 30, 2012 4:39 pm
shape
shape
5 July 2012

Question about block/house loans?

Question about block/house loans?

Hi Kimmy! Ill try to answer your questions without writing a whole essay ....i'll try :) 1. The 2 loans are separate 2. You first get your land loan- and what ever deposit…

5
1147
shape
Jul 05, 2012 9:44 pm
shape
jonmardell
jonmardell
26 June 2012

Current loan question

Current loan question

Hi Westpac is the most expensive lender for most people even with their standard package discount of 0.70% At the moment you should be aiming to…

12
1695
jonmardell
Jun 26, 2012 1:37 pm
theanonyuser
theanonyuser
24 June 2012

First home buyers question

First home buyers question

If you're in Victoria, as bubblynutter says, you pay stamp duty on the land only. You will also get a reduction on the stamp duty if the house you…

5
1082
theanonyuser
Jun 24, 2012 9:54 am
plc
plc
22 June 2012

'subject to finance' clauses and OTP contracts

'subject to finance' clauses and OTP contracts

There's generally phases with them - for example, mine was subject to finance for the first 30 days, and the unconditional at which time there…

4
1413
plc
Jun 22, 2012 1:34 am
plc
plc
22 June 2012

Home and Contents insurance for a unit with a body corp.

Home and Contents insurance for a unit with a body corp.

Hi pj. Yes this is quite normal. The cost of the building insurance is covered within the body corporate fees so you only need to organize…

3
804
plc
Jun 22, 2012 1:09 am
jonmardell
jonmardell
20 June 2012

Mortgage for house & renovation

Mortgage for house & renovation

Are you using any other property as security? Some lenders will lend you up to 95% of the purchase price plus the renovations. If you have equity in other property then…

2
863
jonmardell
Jun 20, 2012 8:44 am
Team PD
Team PD
31 May 2012

Porter Davis and Choice home loan

Porter Davis and Choice home loan

I love PD designs but hate the process of all this. I will refuse to get choice to assess my situation when the time comes. We have a letter from…

7
2082
Team PD
May 31, 2012 11:35 am
Team PD
stormjr
stormjr
27 May 2012

When FHOG will be paid to us?

When FHOG will be paid to us?

Ok, I have the answer from the horse's mouth! AKA the SRO! It depends how you applied for it, if it was direct to the SRO they will not consider your application until…

4
967
stormjr
May 27, 2012 9:45 am
Marcoola32
Marcoola32
25 May 2012

First Home Owners Grant and Construction Loan

First Home Owners Grant and Construction Loan

NICOLE1983 - if you look on the Victorian State Revenue Office website it tells you - click on the link…

4
1193
Marcoola32
May 25, 2012 1:30 pm
mr.21
mr.21
24 May 2012

FHOG After Construction????

FHOG After Construction????

Not too worry. In my case, it was debited into my account couple of weeks after the first progress payment.

7
1237
mr.21
May 24, 2012 11:28 pm
mr.21
Nicole1983
Nicole1983
24 May 2012

Only land loan no construction loan, how to apply for FHOG?

Only land loan no construction loan, how to apply for FHOG?

Hi All, My first Home owners grant and bonus been approved by SRO. First Progress payment paid to builder by bank yesterday, but i didn't got my first Home owners grant…

5
1231
Nicole1983
May 24, 2012 10:29 pm
Nicole1983
Nicole1983
24 May 2012

First progress payment to builder

First progress payment to builder

Hi All, My first Home owners grant and bonus been approved by SRO. First Progress payment paid to builder by bank yesterday, but i didn't got my first Home owners grant…

1
1021
Nicole1983
May 24, 2012 10:29 pm
Nicole1983
Nicole1983
24 May 2012

first home buyers grant not counted as deposit?

first home buyers grant not counted as deposit?

Hi All, My first Home owners grant and bonus been approved by SRO. First Progress payment paid to builder by bank yesterday, but i didn't got my first Home owners grant…

12
2604
Nicole1983
May 24, 2012 10:26 pm
travelbug
travelbug
23 May 2012

any know anything about this loan company

any know anything about this loan company

Ok I thought you just spelled advantage wrong. Sorry.

6
1138
travelbug
May 23, 2012 8:31 pm
RayEthell
RayEthell
22 May 2012

First home buyers with low deposit

First home buyers with low deposit

You can find Low Deposit Home Loans really very helpful.A traditional home loan with competitive interest rates to suit first home buyers and owner occupiers Standard…

10
3214
RayEthell
May 22, 2012 4:04 pm
theanonyuser
theanonyuser
20 May 2012

ease my mind! finance has fallen through

ease my mind! finance has fallen through

I had similar issues but had to put more money forward. I did however find a large difference (over 3K) in LMI…

5
1416
theanonyuser
May 20, 2012 8:13 pm
d3vil_nik
d3vil_nik
14 May 2012

what bank to go with

what bank to go with

i thought there would be a catch, im just trying to find a bank with no fine prints lol

13
1371
d3vil_nik
May 14, 2012 8:17 pm
monkeypantz
monkeypantz
10 May 2012

Stamp duty discount

Stamp duty discount

When I was conveyancing the FHB discount didn't exist, but we would only do the PPR concession (and FHOG) forms if there was no mortgagee involved, otherwise the bank would do it.

5
1009
monkeypantz
May 10, 2012 9:11 am
Levonk
Levonk
4 May 2012

Vendor Finance - What to be aware of

Vendor Finance - What to be aware of

First things do you realise you wont be able to get a normal house loan? Land that sizes means you need to look into commercial / rural lending.…

2
705
Levonk
May 04, 2012 3:04 pm
spencer0281
spencer0281
20 April 2012

Another confused noob needing help and advice

Another confused noob needing help and advice

LVR is calculated as follows: Land value + house contract price = A This value is then what you calculate your borrowing on less existing debt.…

2
838
spencer0281
Apr 20, 2012 5:56 pm
Kimmy87
Kimmy87
19 April 2012

First Home Buyer Here - and Confused!!

First Home Buyer Here - and Confused!!

Thanks Bashworth, any help is much appreciated =) I keep getting conflicting advice on all my questions so I guess I'm just going to have to keep asking LOTS of questions…

2
1012
Kimmy87
Apr 19, 2012 9:54 pm
Kimmy87
Kimmy87
Kimmy87
19 April 2012

Are our heads in the sky? A tricky lending scenario...

Are our heads in the sky? A tricky lending scenario...

Hi 8773, I am also in a similar situation - I am a stay at home Mum of 2 boys and hubby works in the mines - however before all this happened we got ourselves into credit…

10
2095
Kimmy87
Apr 19, 2012 12:00 pm
Kimmy87
MikeF
MikeF
18 April 2012

vendor finance between famliy

vendor finance between famliy

Hi If its a properly documented vendor finance arrangement and your parents are providing 'credit' then your parents will need to be licenced under the National Consumer…

3
1768
MikeF
Apr 18, 2012 12:10 pm
Silvergum
Silvergum
14 April 2012

Section 27

Section 27

we had a s27 when we sold our house as we wanted some money to purchase land to build. The purchaser made us wait all 30 days (i think it was 30, its a while ago now!). …

1
721
Silvergum
Apr 14, 2012 5:48 pm
Silvergum
Silvergum
8 April 2012

Upgrades done at pre-start and bank loan

Upgrades done at pre-start and bank loan

Thanks Caz, We havent had an invoice as yet, so probably will happen soon I guess as I think they will be starting site scrap in the next couple of weeks, just waiting to…

2
769
Silvergum
Apr 08, 2012 8:45 pm
MalinViktoria
MalinViktoria
7 April 2012

Self-employed and home loan

Self-employed and home loan

Thank you, Silvergum! Maybe we'll start talking to some brokers to see where we stand. How much I earn isn't too important, I'm well over the required amount we need…

2
635
MalinViktoria
Apr 07, 2012 10:18 am
MalinViktoria
shape
shape
3 April 2012

possible to get constrution loan?

possible to get constrution loan?

Your best to use the cash to push down the LVR - ie cost of construction is $300,000 - apply for a 70% LVR on the build using your cash...so in total the land and build…

3
765
shape
Apr 03, 2012 2:36 pm
shape
shape
shape
3 April 2012

Confused about allowances and bank loans

Confused about allowances and bank loans

That doesn't seem right, CBA is happy to accept valuation value and payment based on "future" improvement / value adding -- thats the whole point of constructions…

2
707
shape
Apr 03, 2012 1:26 am
shape
Barossa Bubbles
Barossa Bubbles
28 March 2012

Final bank construction payment

Final bank construction payment

With my bank, the loan for the construction is ready and waiting along with the provision of floorboards and carpets, paving and A/C. Once the house is built they…

1
808
Barossa Bubbles
Mar 28, 2012 4:18 pm
Barossa Bubbles
Barossa Bubbles
Barossa Bubbles
28 March 2012

Finance for a high risk

Finance for a high risk

Glad to hear that your finance has come through. I am up in the Barossa as well, which town is your new purchase in? Look forward to following your renovation posts when…

4
1379
Barossa Bubbles
Mar 28, 2012 3:50 pm
Barossa Bubbles
AubinGroveFan
AubinGroveFan
24 March 2012

Mortgage Application

Mortgage Application

Are you self employed or have rental properties? What deductions are they working…

5
686
AubinGroveFan
Mar 24, 2012 9:30 pm


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