RegVicUsing Land as a 'deposit' on building loan?
13 February 2017
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…
aloenyxInterest Only payments during construction: Why?
4 February 2017
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…
becjarrettdaltonA tough one about the First Home Owner's Grant
18 January 2017
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…
becjarrettdaltonConstruction Loan with Land Explanation
8 January 2017
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…
ChristoshizzOwner Building w/ NAB ::angry:: stat decs from parents etc
27 October 2016
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…
becjarrettdaltonLand Titiles and Construction Loan
18 October 2016
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…
Kagan1042Qld FHOG under Substantially Renovated Clause
7 October 2016
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…
DrekkoWhich home insurance company ( not contents ) ?
17 August 2016
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…
new_senior_citizenRefinancing with AMP Experience??
10 July 2016
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…
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…
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…
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…
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…
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…
plcSelling and Buying - current loan is guaranteed
23 February 2016
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…
plcChanging Lender from Land Loan to construction loan
8 February 2016
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…
deejay08Loan approval prior to land registration
29 January 2016
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…