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Last Post
plc
plc
14 February 2017

Adding in items after loan approval

Adding in items after loan approval

Generally any additions after a loan has been approved need to be paid out of your pocket. If you do want to add it into the contract as a post contract variation to…

2
868
plc
Feb 14, 2017 12:32 am
RegVic
RegVic
13 February 2017

Using Land as a 'deposit' on building loan?

Using Land as a 'deposit' on building loan?

Hi Firstbuild, Just from my experience... you can use the land (just the $ you contributed) as the deposit... There is a waiting period... in my case, the land value was…

5
1308
RegVic
Feb 13, 2017 4:25 pm
RegVic
aloenyx
aloenyx
4 February 2017

Interest Only payments during construction: Why?

Interest Only payments during construction: Why?

I was recommended interest only during the building phase.. and made sense as I need every penny to pay rent and after build costs. Once my final construction payment is…

6
1551
aloenyx
Feb 04, 2017 8:50 pm
aloenyx
wongbruce
wongbruce
3 February 2017

Paying Deposit

Paying Deposit

As a solicitor I can advise you of the following: For land - Yes we always try to negotiate a 5% deposit. For builders contract - 5% of usually the amount that…

3
991
wongbruce
Feb 03, 2017 12:21 am
wongbruce
wongbruce
1 February 2017

Application Enquiry

Application Enquiry

As a Solicitor, I have had no problems at my end for my own clients. My clients loans were all approved within 1-1.5 weeks. If you do it directly with the banks that is.…

4
817
wongbruce
Feb 01, 2017 2:09 pm
becjarrettdalton
becjarrettdalton
18 January 2017

A tough one about the First Home Owner's Grant

A tough one about the First Home Owner's Grant

Nice work - go you! I think people lack the desire to take ownership and see something through to completion in some of these large organisations - or are hamstrung by…

3
1363
becjarrettdalton
Jan 18, 2017 9:48 am
becjarrettdalton
jono6466
jono6466
9 January 2017

Confused.....

Confused.....

the debt is in his personal name, spread across a number of personal credit cards in his name.

5
834
jono6466
Jan 09, 2017 10:10 pm
becjarrettdalton
becjarrettdalton
8 January 2017

Construction Loan with Land Explanation

Construction Loan with Land Explanation

Hi Lucy, Usually it's interest only on both the land and the construction loan, but not impossible for it to have been set up differently so double check with your…

1
654
becjarrettdalton
Jan 08, 2017 8:30 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
2 January 2017

Help with mortgage!

Help with mortgage!

Just to confirm you're buying in Canada?

1
819
becjarrettdalton
Jan 02, 2017 6:56 pm
becjarrettdalton
capricorn
capricorn
13 December 2016

Mortgage broker!

Mortgage broker!

Hi, we were in the same situation as you a year ago. We just moved to our new house. We are happy with our mortgage broker. We got to know him through a family friend…

2
1909
capricorn
Dec 13, 2016 12:37 am
capricorn
9
986
becjarrettdalton
Dec 12, 2016 7:14 am
becjarrettdalton
Finalytics Financial
Finalytics Financial
12 November 2016

Equity and Loan Dilemma

Equity and Loan Dilemma

I have a client in a similar situation. We worked with them and their accountant and decided the best thing was to take the stamp duty hiyt and sell the property into a…

3
3244
Finalytics Financial
Nov 12, 2016 1:59 pm
Christoshizz
Christoshizz
27 October 2016

Owner Building w/ NAB ::angry:: stat decs from parents etc

Owner Building w/ NAB ::angry:: stat decs from parents etc

Hey mate. If it was me I'd be firing your broker and go speak to another broker or another bank lender. Different banks have different financing policies. Vote with your…

1
1194
Christoshizz
Oct 27, 2016 1:00 am
Christoshizz
becjarrettdalton
becjarrettdalton
18 October 2016

Land Titiles and Construction Loan

Land Titiles and Construction Loan

Ok that's why they can't use it. Your sister would have to be shown to have clear benefit by being guarantor, for example residing in the home - and she brings with her…

3
1381
becjarrettdalton
Oct 18, 2016 12:02 pm
becjarrettdalton
Kagan1042
Kagan1042
7 October 2016

Qld FHOG under Substantially Renovated Clause

Qld FHOG under Substantially Renovated Clause

Hi All Has anyone managed dto receive the FHOG for a substantially renovated property? I'm wondering how easy this process is, or if its not even worth the paper its…

0
1205
Kagan1042
Oct 07, 2016 12:40 pm
MoodyBlue
MoodyBlue
18 September 2016

Which bank?

Which bank?

We've changed twice over the years and are currently with G&C Mutual Bank. Have been with them for about 4 years and so far the positives are: Great customer service - I…

10
2008
MoodyBlue
Sep 18, 2016 7:00 pm
Michndayne
Michndayne
31 August 2016

New home group

New home group

I use new home group. Had good appeal with their building grant. I like the person i deal with in new homes group as when ever things havent been clear or if im annoyed at…

1
1033
Michndayne
Aug 31, 2016 3:52 am
becjarrettdalton
becjarrettdalton
19 August 2016

Home Improvement Loan

Home Improvement Loan

Great to hear - I bet you don't look back!

4
1869
becjarrettdalton
Aug 19, 2016 10:43 pm
becjarrettdalton
Drekko
Drekko
17 August 2016

Which home insurance company ( not contents ) ?

Which home insurance company ( not contents ) ?

stupid question I have used a couple of different "cost to rebuild your home" calculators and they have all given me way out of sync figures one was 11k Another was…

1
493
Drekko
Aug 17, 2016 11:18 am
Drekko
joshiia
joshiia
28 July 2016

Mortgage Broker!!

Mortgage Broker!!

Hi, I have recently bought the house and use the services of Vijay Agarwal Mortgage broker M 0433882222 Whose service is very good he provide me best deal with bank and…

3
1252
joshiia
Jul 28, 2016 6:28 am
plc
plc
15 July 2016

Transfering of titles

Transfering of titles

No problems. Glad to be of service. Hopefully it works out for your friend. Cheers Tom

3
813
plc
Jul 15, 2016 1:00 am
new_senior_citizen
new_senior_citizen
10 July 2016

Refinancing with AMP Experience??

Refinancing with AMP Experience??

If its the ONLY lender that will help in your situation, accept it. If there are other OPTIONS with other lenders, STONGLY CONSIDER THEM. AMP is a stable Oz finance…

1
786
new_senior_citizen
Jul 10, 2016 11:03 am
plc
plc
9 July 2016

Home + Land loan - information

Home + Land loan - information
1, 2

Just to add to what Bec said, you mentioned that you were pre-approved? In that case if it is still valid and not expired, it may be an easier process with limited…

21
2671
plc
Jul 09, 2016 1:55 am

Dennis Family Homes

Dennis Family Homes

Wow Gemma, at least it got thru in the end. Usually it like baseball, 3 strikes (apps) and your out! Congratulations, you found a certified "joker broker" that Simonds…

7
1810
new_senior_citizen
Jul 07, 2016 6:07 pm

Buying land

Buying land
1, 2

Loan lending criteria is always a changing marketplace as different lenders position themselves for different niches. As such trying to secure finance for anything 3mths+…

24
4050
new_senior_citizen
Jul 07, 2016 6:04 pm

Bad Credit Home Loan Advice

Bad Credit Home Loan Advice

No, not a spammer, and I will be able to "finish this story" on the 11/12 July. Stay tuned. David Fantastic !! Always talk to a few finance brokers,…

5
1206
new_senior_citizen
Jul 07, 2016 5:52 pm

Huffle - Groupon for Mortgages

Huffle - Groupon for Mortgages

NO NO NO RUN AWAY In short they are lending similiar to RAMS 1.0 did (before Westpac took over in NAME ONLY) from their website info. Nice in a positive disconnect…

3
901
new_senior_citizen
Jul 06, 2016 10:47 pm

Using equity to purchase land

Using equity to purchase land

Same goes for these 'guarantor' loans. NEVER EVER tie up my property for the kids. What happens if they divorce? (50% chance in oz, and I have 4 kids!), what happens if…

6
1594
new_senior_citizen
Jul 06, 2016 10:25 pm

Do Any Banks Pay Lump Sums?

Do Any Banks Pay Lump Sums?

The bank will lend the $$$ as per the builders contract fixtures and fittings. If you want the platinum taps and gold drains and its not in the builders contract, dont…

6
1100
new_senior_citizen
Jul 06, 2016 5:13 pm

Recommend a good broker in Sydney

Recommend a good broker in Sydney

My kids used Alliance Credit on the pier opposite "The Star" casino in Sydney, but they have an office at baulkham hills too. Alliancecredit.com.au They were able to help…

5
1675
new_senior_citizen
Jul 06, 2016 5:07 pm

Valuation being more then build cost

Valuation being more then build cost

Sometimes valuations are a bit like astrology. But as long as the property has gone up since you put a deposit on in, and assuming you qualified for a loan then, you…

5
1084
new_senior_citizen
Jul 06, 2016 5:00 pm

End of financial year

End of financial year

+1 Bec, pre-approvals are a nice feeling to have, but the actual assessment is made when ALL final documents are available (including the builders contract). I remember…

3
1062
new_senior_citizen
Jul 06, 2016 4:49 pm

Valuation risk on build cost?

Valuation risk on build cost?

Everyones 'opinion' on what the per sq metre range means diddy squat. Talk to local agents and get a variance of price point. The only 'opinion' that carrys ANY weight is…

8
1498
new_senior_citizen
Jul 06, 2016 4:28 pm

Low bank valuation ...much difference with a second??

Low bank valuation ...much difference with a second??

The valuer is writing part of the risk cover for the loan. If the loan goes bad (default > repo) and the bank cannot cover the valuers OPINION (within a suitable time…

8
1764
new_senior_citizen
Jul 06, 2016 4:18 pm
bank
bank
20 June 2016

Pay LMI or save up some more?

Pay LMI or save up some more?

Yes there would be no LMI on the land loan. Then some or none on your construction loan depending on if you save 20% of the build cost by the time you want to build. …

7
1134
bank
Jun 20, 2016 11:33 am
bank
aussieta
aussieta
21 May 2016

Title Insurance and Caveat worth it?

Title Insurance and Caveat worth it?

dont worry about the caveat basically means nobody can sell the land without your approval the finance company will have lodged their own caveat until you pay the loan…

11
2563
aussieta
May 21, 2016 1:07 pm
aussieta
plc
plc
11 May 2016

Deposit/loan advice

Deposit/loan advice

When the bank does the valuation, they will take into account the land and construction as one for LVR purposes. As the OP already has equity in the land (and assuming it…

5
2075
plc
May 11, 2016 2:21 am
Saluja
Saluja
5 May 2016

Land Contract Advise

Land Contract Advise

Hi Thomas Which city are you in, I may be able to recommend a professional in the area who can help you with your situation. Regards, Harish

2
793
Saluja
May 05, 2016 10:45 am
Ponzu
Ponzu
3 May 2016

Broker's advice - no construction loan!

Broker's advice - no construction loan!

Odd this, every estate sales office I visited advised I could do subject to finance. Always pays to ask though For what term? What state? Apologies I…

13
1759
Ponzu
May 04, 2016 12:09 am
nakedmind
nakedmind
19 April 2016

Investment loan for construction

Investment loan for construction

Hi all, How feasible is it these days to get a 95% LVR construction investment loan?

0
388
nakedmind
Apr 19, 2016 2:27 pm
Glendale45
Glendale45
26 March 2016

Land valuation

Land valuation
1, 2

Thank you, I've heard so many different days that it lasts. But our broker is telling me it is only good for the one contract we take to the bank. If we take a different…

21
2831
Glendale45
Mar 26, 2016 10:58 am
Glendale45
aloenyx
aloenyx
18 March 2016

Recommend a good broker in melbourne

Recommend a good broker in melbourne

Your probably sorted already, but my broker has been fantastic. She's got an office on Stud Road, in one of the shopping centers. Happy to give you her details, send me a PM :)

3
1321
aloenyx
Mar 18, 2016 9:08 pm
aloenyx
naritas
naritas
29 February 2016

Confirmation on loan amount

Confirmation on loan amount

Hi OP, Just thought I'd chime in given you're asking about wanting to borrow more money than your broker had told you was feasible. You may be right in thinking some…

7
1460
naritas
Feb 29, 2016 10:40 pm
naritas
plc
plc
23 February 2016

Selling and Buying - current loan is guaranteed

Selling and Buying - current loan is guaranteed

You are really out of luck I would say Zelda. Lenders only allow security guarantors nowadays, the only lender I know that allows servicing guarantors (income) are ANZ but…

4
1216
plc
Feb 23, 2016 1:31 am
deejay08
deejay08
17 February 2016

HIA CONTRACT

HIA CONTRACT

How far could they have gotten in to your build if the finance hadn't been secured? I'm guessing a site survey and plans/tender prep is about it? So depends on how much…

2
937
deejay08
Feb 17, 2016 6:49 pm
deejay08
deejay08
15 February 2016

Altering builder contract/tender if not approved

Altering builder contract/tender if not approved

Oh no you just need your tender to apply for a construction loan...your contract will be submitted later.

2
612
deejay08
Feb 15, 2016 10:38 pm
plc
plc
8 February 2016

Changing Lender from Land Loan to construction loan

Changing Lender from Land Loan to construction loan

Obviously some people don't read the rules prior to joining this forum. You included. Your first post and it's a blatant self servicing advertisement. Not even a hint of…

16
1529
plc
Feb 08, 2016 8:31 pm
deejay08
deejay08
29 January 2016

Loan approval prior to land registration

Loan approval prior to land registration

Yeah we would be classed as no 3 in your scenario naritas..sort of. We went direct to the lender so no broker in the middle (don't like them) and have an off the shelf…

9
1415
deejay08
Jan 29, 2016 5:42 pm
plc
plc
28 January 2016

Borrowing after construction is completed

Borrowing after construction is completed

If your builder doesn't want to do it, but your bank allows third party quotes, get them done for the fencing, etc and include them along with your building contract to…

7
957
plc
Jan 28, 2016 7:41 pm


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