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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
3158
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
1136
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
1321
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
1131
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
1833
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
973
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
1826
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
437
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
1174
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
751
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
758
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
2553
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
1727
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
3807
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
1133
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
843
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
1482
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
1005
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
1617
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
1031
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
985
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
1402
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
1676
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
1082
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
2231
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
1979
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
748
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
1678
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
369
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
2767
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
1289
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
1363
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
1173
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
888
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
575
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
1385
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
1267
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
858
plc
Jan 28, 2016 7:41 pm
plc
plc
28 January 2016

Employment history and loan application

Employment history and loan application

It all depends on what the mitigating circumstances are. If you are moving within the same industry and you have moved to a higher paying role, even with probation it…

5
801
plc
Jan 28, 2016 7:29 pm
plc
plc
28 January 2016

portable loan

portable loan

Hi Yvette, Bec summarised it pretty effectively. Portability works great for people who are downsizing because as pointed out the loan size isn't able to be increased.…

2
364
plc
Jan 28, 2016 6:58 pm
naritas
naritas
27 January 2016

Suncorp Bank Home LOan

Suncorp Bank Home LOan

Hi Gunners13, Suncorp is somewhat overpriced for construction lending at present. Our company has placed a significant volume of loans with them over the years and the…

4
808
naritas
Jan 27, 2016 11:29 am
naritas
plc
plc
12 January 2016

Increasing borrowing power with lots of dependents?

Increasing borrowing power with lots of dependents?

As Bec says, it all depends on the how the lender will treat the situation. Some allow more in terms of living expenses for dependents than others, however the good news…

5
910
plc
Jan 12, 2016 1:30 am
building-expert
building-expert
10 January 2016

Provision Cost

Provision Cost

On the face of it no because your bank is lending you for the building contract and they will be advancing against payments to the builder not to you. Another issue is…

2
933
building-expert
Jan 10, 2016 2:05 pm
building-expert
pieeater
pieeater
24 December 2015

ING For Construction Loan

ING For Construction Loan

Although it is a little of track I think it might benefit some by relaying my experience with ING Bank and their home loans. It has been 2 months since I first posted and…

18
2044
pieeater
Dec 24, 2015 12:05 pm
cloudy
cloudy
14 December 2015

Building home on parent's vacant block - tenants in common

Building home on parent's vacant block - tenants in common

Background: - My father owns three blocks of land which makes up his farm in WA. One he is living on, the second has sheds and house (I live and rent in) and the third is…

0
458
cloudy
Dec 14, 2015 12:44 am
plc
plc
21 November 2015

HELP!!!! HOME LOAN QUESTION.

HELP!!!! HOME LOAN QUESTION.

McKenz, As Bec alluded to, 5% is a minimum nowadays (plus extra to cover stamps and excess of LMI over the allowable cap). You being a FHB also allows you to claim a…

3
1285
plc
Nov 21, 2015 12:37 am
kew23
kew23
6 November 2015

Land Valuation

Land Valuation

Hi I'm new to the forum and i was just wondering is there anyone who has bought land in Mandalay Beveridge. Has anyone had any problems with getting their land Valued.

0
949
kew23
Nov 06, 2015 5:16 pm
12
1878
New_Robinhood
Nov 06, 2015 12:43 pm
aloenyx
aloenyx
1 November 2015

Just A Quick Question

Just A Quick Question

I paid $1k to the land people, then signed the contract with a 21 day finance clause. On the last day the bank approved my finance, then I paid the balance of the 5%…

4
596
aloenyx
Nov 01, 2015 7:41 pm
aloenyx


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