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Last Post
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
720
Levonk
May 04, 2012 4:04 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
848
spencer0281
Apr 20, 2012 6:56 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
1026
Kimmy87
Apr 19, 2012 10:54 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
2139
Kimmy87
Apr 19, 2012 1:00 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
1786
MikeF
Apr 18, 2012 1:10 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
738
Silvergum
Apr 14, 2012 6:48 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
795
Silvergum
Apr 08, 2012 9:45 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
642
MalinViktoria
Apr 07, 2012 11:18 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
791
shape
Apr 03, 2012 3:36 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
717
shape
Apr 03, 2012 2:26 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
819
Barossa Bubbles
Mar 28, 2012 5:18 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
1398
Barossa Bubbles
Mar 28, 2012 4:50 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
693
AubinGroveFan
Mar 24, 2012 10:30 pm
AussieMark
AussieMark
5 March 2012

Has anyone been in this situation?

Has anyone been in this situation?
1, 2

Wow.... Terrible outcome. Friends are friends and business is business. Even if proceeds from sale were split 50/50 it still would have been a great deal as the other…

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3622
AussieMark
Mar 05, 2012 10:38 pm
snowing
snowing
20 February 2012

Curious as to how people choose their lender / broker

Curious as to how people choose their lender / broker
1, 2

I was in a real rush to get things settle and end up went through a broker which is very good. He find me a good deal with Homeside and end up only used 4 days to get…

28
4281
snowing
Feb 20, 2012 4:07 pm
MikeF
MikeF
19 February 2012

Refinance - ANZ to CBA

Refinance - ANZ to CBA

Hi All We are going to refinance from ANZ to CBA. Have loan with ANZ for land, but for construction being offered a better rate through a…

3
884
MikeF
Feb 19, 2012 10:28 am
shape
shape
13 February 2012

Renovating - Which Loan?

Renovating - Which Loan?

thanks for that. I was getting worried as I thought because we were renovating, we had to get a construction loan, it is good to see that we…

4
644
shape
Feb 13, 2012 7:58 pm
shape
~steph~
~steph~
11 February 2012

Can you have a house mortgaged through two different banks?

Can you have a house mortgaged through two different banks?

Bugger, just as we thought. We are going to ask for a list of exit fees on Monday and see if it is worth breaking the fixed early. Thanks for the replies.

5
739
~steph~
Feb 11, 2012 8:41 pm
Pauankim
Pauankim
11 February 2012

Home buying for individual owner

Home buying for individual owner

Great idea on the untitled land........ esp if you bank the say grand a fortnight (your proposed mortgage repayments) it'll not only look good for the bank but you'll have…

6
972
Pauankim
Feb 11, 2012 12:19 pm
srl
srl
11 February 2012

Renovation - line of credit vs construction loan

Renovation - line of credit vs construction loan

Michael, Thanks for your great advice. Yes, loyalty is not something banks value highly. The stamp duty is the piece which has really stuck in our throats. It felt like…

6
1367
srl
Feb 11, 2012 11:19 am
ilikethemoon
ilikethemoon
7 February 2012

Q re mortgage amount

Q re mortgage amount

Here is a good thread on the subject :) viewtopic.php?f=1&t=46427

2
703
ilikethemoon
Feb 07, 2012 7:09 pm
ilikethemoon
IncredibleBulk
IncredibleBulk
26 January 2012

Buying a second home Questions

Buying a second home Questions

1. Choose to fix the rate 2. make it P & I 3. keep LVR under 80% ( cash or equity) 4. claim Negative gearing benefit from the loan 5. Close…

3
841
IncredibleBulk
Jan 26, 2012 11:13 pm
shape
shape
25 January 2012

Buying a new house - deposit bonds and stamp duty

Buying a new house - deposit bonds and stamp duty

Hi, A few options, but which one you choose will depend on your serviceability + timing and use of the new place ( PPOR or IP? for tax reaons) 1. bridging loan 2. Going…

2
974
shape
Jan 25, 2012 3:52 pm
shape
shape
shape
25 January 2012

Bank Conditionally Approved Loan But LMI Rejection

Bank Conditionally Approved Loan But LMI Rejection

Hi, firstly the two major LMi companies in Aus is QBE and Genworth- having said that they are NOT the only two lenders use...in fact some leners ( around 9 of them )…

8
1710
shape
Jan 25, 2012 3:46 pm
shape
theanonyuser
theanonyuser
23 January 2012

Valuation

Valuation

This reply is to nicole1983, not the op. I went through a similar situation in Lynbrook. Unfortunately the inflated land prices you buy through the real estate agent…

6
1115
theanonyuser
Jan 23, 2012 12:37 am
grace_slick
grace_slick
17 January 2012

Is this right? (Buying AND selling lose you money?)

Is this right? (Buying AND selling lose you money?)

Just as well you are not in Victoria. We pay the highest stamp duty in the country. I recently bought and sold and was out of pocket 50k…

11
1357
grace_slick
Jan 17, 2012 1:29 pm
grace_slick
AJW
AJW
15 January 2012

Confused about construction loans

Confused about construction loans

We do not actually want to do the sites works ourselves, just don't want to pay the builders margin on top of the costs. So we would liase…

9
2548
AJW
Jan 15, 2012 8:54 am
hfwangoz
hfwangoz
8 January 2012

How to process home loan when building my own home?

How to process home loan when building my own home?

Thanks guys. ::kiss:: After carefully thinking about my situation, I decided to borrow money for the land only. I will borrow up to 80% of the land value. I will try to pay…

3
714
hfwangoz
Jan 08, 2012 11:24 pm
shape
shape
8 January 2012

ANZ Builder's Pack

ANZ Builder's Pack

So you posted the signed letter of offer back on the 26th?? Given that last week ( Tuesday - Friday ) 3 days were the only working days...i wouldn't be to concern-…

1
963
shape
Jan 08, 2012 12:43 pm
shape
B STAR
B STAR
19 December 2011

FHOB extension as OB, chances of success? (Vic)

FHOB extension as OB, chances of success? (Vic)

I asked for an extension ans succeed. You would have to prove to them that the delay was out of your control. Firstly are you sure that its 18months and not two years? I…

1
645
B STAR
Dec 19, 2011 1:49 pm
ChargerWA
ChargerWA
17 December 2011

Help!!!

Help!!!

See if you can get the tiler to supply the bamboo flooring. You pay him, he pays the bamboo flooring supplier. Even if he puts 5% on top you might still be able to get…

2
694
ChargerWA
Dec 17, 2011 12:54 am
ChargerWA
rojak1
rojak1
5 December 2011

Bank valuation on construction loan

Bank valuation on construction loan

upgrades do not normally bring up the value of your "construction". land value + dwelling type is what the bank consider. you can build a double storey with either a small…

12
4870
rojak1
Dec 05, 2011 10:44 am
shape
shape
4 December 2011

Getting a home loan for a small apartment

Getting a home loan for a small apartment

Hi, Does that squ meter includes car space or balcony? If it's >40 then 80% LVR is fine- but at 80% LVR ( loan to debt ratio) you need to have good/strong…

6
1187
shape
Dec 04, 2011 7:45 pm
shape
Crow
Crow
4 December 2011

Home Construction Costs (GST Inclusive)

Home Construction Costs (GST Inclusive)

Thanks for the reply. Can the bank claim the GST that they have paid to the builder? Because if they can claim the 10% GST back why the…

5
1309
Crow
Dec 04, 2011 2:00 pm
HouseFenster
HouseFenster
30 November 2011

Balance Transfer Arbitrage

Balance Transfer Arbitrage

You may not see it as living on credit but I am sure the banks will. Now, I’m not saying that it’s a good idea or a bad idea but it looks suspicious to anyone who…

3
749
HouseFenster
Nov 30, 2011 5:46 am
Allan Faint
Allan Faint
28 November 2011

Need A Good Mortgage Broker!!!

Need A Good Mortgage Broker!!!

after 10 yrs i would like to hope i am considered a good mortgage broker. please checkmy site www.hfcahobart.com.au. regards allan faint

1
745
Allan Faint
Nov 28, 2011 9:10 pm
Allan Faint
4
781
oztraze
Nov 16, 2011 10:34 am
rojak1
rojak1
16 November 2011

Home Loan Re-finance

Home Loan Re-finance

bankwest loan is 6.78%

18
2353
rojak1
Nov 16, 2011 8:30 am
kels
kels
3 November 2011

How much should I expect to pay for a property valuation?

How much should I expect to pay for a property valuation?

Thanks guys, Our lawyer put us in touch with their valuer. It will be $400+GST.

3
779
kels
Nov 03, 2011 5:38 am
MikeF
MikeF
31 October 2011

Excel Spreadsheet for Mortgage Payments

Excel Spreadsheet for Mortgage Payments

Hi everyone. I've been chasing my tail for ages looking for a mortgage spreadsheet that will track all my loan payments, including extra…

8
2879
MikeF
Oct 31, 2011 9:33 am
theanonyuser
theanonyuser
29 October 2011

Ubank 6.59% atm

Ubank 6.59% atm

Also re-financing, with MyRate, 6.85% interest rate, 90% loan, and doing construction :)

10
2016
theanonyuser
Oct 29, 2011 5:12 pm
EagleStrike
EagleStrike
29 October 2011

Changing Jobs while applying for home loans

Changing Jobs while applying for home loans

Yeh at the end I decline job offers. Although they did offer me a letter explaining i'm not on probations. Just waiting until my house finish.

8
1958
EagleStrike
Oct 29, 2011 10:41 am
Helyn
Helyn
29 October 2011

Mortgage with Offset component

Mortgage with Offset component

Is there a big difference between an offset account and a loan that lets you have unlimited free redraws electronically with no fees or minimums etc. …

7
1489
Helyn
Oct 29, 2011 8:52 am
Helyn
shape
shape
29 October 2011

Self employed preapproval ANZ

Self employed preapproval ANZ

Hi, How long it takes depends on how complex the deal is + how the information was presented to the bank ( in order with notes etc...) But Generally speaking with ANZ…

2
694
shape
Oct 29, 2011 1:17 am
shape
investa
investa
26 October 2011

Cost Of Mortgage Insurance

Cost Of Mortgage Insurance

Just an update on my situation. Not sure what I have done to deserve this! Our broker has structured new loan at 92%. Last month I got pre approval with unconditional…

12
2140
investa
Oct 26, 2011 8:48 pm
buildingwest
buildingwest
24 October 2011

One applicant with bad credit. What can we do?

One applicant with bad credit. What can we do?

Hi, I would be very reluctant not to have my name on the deed and I would be considering legal advice. If you are also contributing funds to the home you should be…

8
1408
buildingwest
Oct 24, 2011 9:04 am


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