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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
1818
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
1167
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
1463
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
861
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
911
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
2244
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
1043
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
1213
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.

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1271
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
1318
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
1067
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
2794
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
1251
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
3388
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
1468
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

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1523
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
1029
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
760
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
907
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
1058
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
2237
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
1890
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
778
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
851
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
674
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
826
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
741
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
835
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…

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1468
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
714
AubinGroveFan
Mar 24, 2012 9:30 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…

27
3734
AussieMark
Mar 05, 2012 9:38 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
4972
snowing
Feb 20, 2012 3:07 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
914
MikeF
Feb 19, 2012 9:28 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
661
shape
Feb 13, 2012 6:58 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
742
~steph~
Feb 11, 2012 7:41 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
1000
Pauankim
Feb 11, 2012 11:19 am
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
1430
srl
Feb 11, 2012 10:19 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

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719
ilikethemoon
Feb 07, 2012 6:09 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
922
IncredibleBulk
Jan 26, 2012 10:13 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
990
shape
Jan 25, 2012 2:52 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
1760
shape
Jan 25, 2012 2:46 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
1122
theanonyuser
Jan 22, 2012 11:37 pm
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
1487
grace_slick
Jan 17, 2012 12:29 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
2629
AJW
Jan 15, 2012 7:54 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
730
hfwangoz
Jan 08, 2012 10:24 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
992
shape
Jan 08, 2012 11:43 am
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
662
B STAR
Dec 19, 2011 12:49 pm

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