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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
941
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
892
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…

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828
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
636
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
632
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
785
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
1025
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
417
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
581
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
690
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
987
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
667
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
1116
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
1099
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
670
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
3308
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
789
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
1316
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
666
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
4584
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
921
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
1012
shape
Oct 31, 2012 5:18 pm
shape
Marty McDonald
Marty McDonald
24 October 2012

HELP, Problem with Westpac

HELP, Problem with Westpac

Not a good situation but I agree wirth Ed. They signed off on it thier problem. I have had a few lenders try and pull their approvals on me / my clients but thankfully…

4
1171
Marty McDonald
Oct 24, 2012 4:46 pm
zahirarose
zahirarose
15 October 2012

Townsville property manager

Townsville property manager

Hi OP, something worth considering is talking to The Tenants Advocacy Group about their experiences with various agents. I know there are some agents in Townsville have a…

3
1533
zahirarose
Oct 15, 2012 10:51 pm
plc
plc
10 October 2012

Construction loan questions - urgent

Construction loan questions - urgent
1, 2

....most pre-approvals are so useless, it's just a marketing tool in my eyes. Seen so many people still get rejected, even after they have the so…

28
3128
plc
Oct 09, 2012 11:34 pm
shape
shape
5 October 2012

Anyone self-employed and had trouble getting a home loan?

Anyone self-employed and had trouble getting a home loan?

What I'm worried about is that the brokers use the system generated ways to tell you if you can borrow a certain amount or not, but like…

10
1381
shape
Oct 05, 2012 3:15 pm
shape
gonecountry
gonecountry
2 October 2012

Current St George Loan Process Time - A JOKE!

Current St George Loan Process Time - A JOKE!

Just heard on Friday we received unconditional approval from Westpac! Can't believe what took St George 3 MONTHS took Westpac 9 days!! Sweet sweet relief :)

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2975
gonecountry
Oct 02, 2012 8:26 am
gonecountry
gonecountry
gonecountry
2 October 2012

Our Construction Loan Nightmare

Our Construction Loan Nightmare

Just heard on Friday we received unconditional approval from Westpac! Can't believe what took St George 3 MONTHS took Westpac 9 days!! Sweet sweet relief :)

8
2528
gonecountry
Oct 02, 2012 8:26 am
gonecountry
MalinViktoria
MalinViktoria
29 September 2012

Paying rent while building

Paying rent while building

Just thought I should check in on this thread; a lot has changed! :lol: Thanks kitkat and juski for your recent replies! Here is an update on our situation and plans: Location…

9
6220
MalinViktoria
Sep 29, 2012 11:58 am
MalinViktoria
akashra
akashra
26 September 2012

Homeside Processing Times

Homeside Processing Times

I originally had my loan with Homeside. I similarly had multiple issues where responses and outcomes were communicated to be occurring on particular days, and those…

6
1164
akashra
Sep 26, 2012 1:46 pm
andystar70
andystar70
21 September 2012

ANZ Processing Time?

ANZ Processing Time?

Congrats! Where are you buying / building? Yes indeed it was comforting to know we weren't alone!!! :-)

4
2631
andystar70
Sep 21, 2012 6:24 pm
andystar70
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
3005
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
1171
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
1173
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
1272
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
1438
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
634
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
1136
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
963
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

5
1802
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…

26
4665
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
1588
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
2303
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
1587
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
1362
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.

43
6447
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
771
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
923
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
865
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
1192
shape
Jul 05, 2012 9:44 pm
shape

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