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Last Post
mel_mox
mel_mox
22 September 2010

Tender process?

Tender process?

Got a copy of our site tests today :-) Don't fully understand it but says m slab required which I know no upgrade! Great! Also says slight to moderate fall! Hopefully it's…

6
2314
mel_mox
Sep 22, 2010 9:32 pm
grace_slick
grace_slick
26 September 2010

SIGH - we can't get finance. Ever.

SIGH - we can't get finance. Ever.

Meh. Was passed in at $360,000 vendor bid after an opening bid of $300,000, one other bid of $320,000 and that's it. Our max price is $320,000. Blown out of the water I'm…

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1688
grace_slick
Sep 26, 2010 3:29 pm
grace_slick
TazR
TazR
26 September 2010

Construction Insurance vs Home Warranty Insurance

Construction Insurance vs Home Warranty Insurance

From some research I have done, it seems that the Home Warranty insurance covers you when the builder fails to satisfy their obligations. So in the case of vandalism, the…

1
685
TazR
Sep 26, 2010 8:53 pm
Eoh
Eoh
28 September 2010

Capital Gains vs LVR & LMI

Capital Gains vs LVR & LMI

Good news. Our loan docs have been certified and we are going on sites pretty soon. Our LMI have also been adjusted without the 110% construction loading.

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1331
Eoh
Sep 28, 2010 5:04 pm
11
972
Bam
Sep 28, 2010 9:37 pm
Bam
Bam
Bam
28 September 2010

Consequences of a second mortgage?

Consequences of a second mortgage?

We have a Line of Credit. Only thing to be cautious of is the higher interest rate.

3
661
Bam
Sep 28, 2010 11:19 pm
Bam
jb_money
jb_money
30 September 2010

Financing options without enough deposit

Financing options without enough deposit

There are some lenders that allow you to refinance at 95% LVR (very few allow this these days). This would allow you to release funds as a deposit. The problem is that LMI…

3
882
jb_money
Sep 30, 2010 9:13 am
builda
builda
1 October 2010

invoice advice/whinge

invoice advice/whinge

Is your contract for staged payments eg: Base, Frame, Lockup, Fix and Final? If so, then those stages are as defined in the legislation in most states and my…

1
511
builda
Oct 01, 2010 4:23 pm
builda
jb_money
jb_money
5 October 2010

Asbestos Roofing...on a duplex we are buying...

Asbestos Roofing...on a duplex we are buying...

It is unlikely the valuer will even know it has an asbestos roof unless somebody tells him. If he does mention it in his valuation report and you are borrowing >80% of the…

3
627
jb_money
Oct 05, 2010 3:47 pm
jb_money
jb_money
5 October 2010

Can I just sell up and re invest the money as I see fit?

Can I just sell up and re invest the money as I see fit?

Just be aware that if you have a fixed rate it may be expensive to exit the loan as there are additional "break fees". If you have had your loan for over 4 years then the…

3
716
jb_money
Oct 05, 2010 3:51 pm
xquisite
xquisite
7 October 2010

pros and cons of refinancing... help!

pros and cons of refinancing... help!

There is no way I would be paying 4-5k in LMI for an extra 10k. That's lunacy! And SK is correct that you will end up paying more interest if you add it to your home loan…

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2301
xquisite
Oct 07, 2010 8:29 am
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7287
xquisite
Oct 07, 2010 8:31 am
kexkez
kexkez
7 October 2010

Grant

Grant

done

2
570
kexkez
Oct 07, 2010 10:08 am
kexkez
jb_money
jb_money
12 October 2010

Is this how Banks are here ??

Is this how Banks are here ??

That works out to be around $85 in additional interest. Yes it is annoying, however complaining to the bank and hassling them for it would probably take up more than $85…

1
699
jb_money
Oct 12, 2010 2:26 pm
Madison27AA
Madison27AA
12 October 2010

Craigieburn Valuations

Craigieburn Valuations

bump...We are currently also waiting for bank valuation. Can anyone share how much did the valuation (typical) come to ? We are building in Highlands Estate on a 472 sq…

1
670
Madison27AA
Oct 12, 2010 3:13 pm
theanonyuser
theanonyuser
13 October 2010

Anyone else using Mates Rates Mortgage Brokers ?

Anyone else using Mates Rates Mortgage Brokers ?

Just wanted to say I did go ahead with them, they've been great. My block of land valuation came in at 32-50K below what I paid. Which is very unfortunate, and I'm trying…

1
1124
theanonyuser
Oct 13, 2010 9:41 am
MaxPower
MaxPower
19 October 2010

Construction Loan......Help

Construction Loan......Help

Hello We have recently purchased some land a few months back which we are paying a mortgage for. Have gone through the whole building thing and decided to build w/ Dennis…

0
430
MaxPower
Oct 19, 2010 10:21 pm
Eve Dweller
Eve Dweller
23 October 2010

FIRST HOME BUYERS

FIRST HOME BUYERS

Sure interest is dead money. But that expense is contributing to your own asset.

4
1030
Eve Dweller
Oct 23, 2010 9:46 am
emmamartin
emmamartin
27 October 2010

Paying a house with credit card?

Paying a house with credit card?

I ever tried citibank services so but obvious I had no vast knowledge about this but putting a house on a credit card was the best move .

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2055
emmamartin
Oct 27, 2010 1:56 pm
1
674
kb46
Nov 05, 2010 1:33 pm
YBBroker
YBBroker
16 November 2010

How do I pay the first progress payment

How do I pay the first progress payment

The above replies already answer the original question, so rather than double up i'll just agree with them. However, you say the first claim is 15%? Is this the building…

6
975
YBBroker
Nov 16, 2010 12:50 pm
YBBroker
YBBroker
16 November 2010

having to pay back First homebuyers grant and keystart?

having to pay back First homebuyers grant and keystart?

I'd suggest just calling Keystart anonymously and ask them directly and explain your situation. They'll let you know exactly where you sit.

3
1090
YBBroker
Nov 16, 2010 12:54 pm
YBBroker
YBBroker
16 November 2010

Withdrawing after tender

Withdrawing after tender

It really depends on the paperwork you may have already signed when entering the agreement to go to tender. There are provisions in most building contracts also where each…

2
801
YBBroker
Nov 16, 2010 12:58 pm
YBBroker
YBBroker
16 November 2010

Help!! Construction Loan: Land title not due till June 2011

Help!! Construction Loan: Land title not due till June 2011

These kinds of contracts annoy me to say the least. Recently i met a client who had signed a similar agreement to purchase a block in North Coogee. They had 12 months to…

4
1150
YBBroker
Nov 16, 2010 1:03 pm
YBBroker
YBBroker
16 November 2010

Bank West

Bank West

In my previous life as a builder we had problems with claims through several banks, however none were particularly worse than the others. It's best to follow up yourself…

5
1006
YBBroker
Nov 16, 2010 1:32 pm
YBBroker
YBBroker
16 November 2010

Loan Variation

Loan Variation

Will be interesting to see the valuation results, because they're coming in quite low at the moment throughout Perth

3
696
YBBroker
Nov 16, 2010 1:34 pm
YBBroker
YBBroker
16 November 2010

Your take on non-bank lenders (eg MyRate, Homestar..)?

Your take on non-bank lenders (eg MyRate, Homestar..)?

I'd recommend having 2 or 3 appointments with different mortgage brokers, they'll give you some decent answers when comparing loans. It's often the smaller things that…

11
1093
YBBroker
Nov 16, 2010 1:35 pm
just Erin
just Erin
16 November 2010

How long did it take for you to get approval?

How long did it take for you to get approval?

Our situation was much like Ms Builder's. We initially went through a broker, and after 8 weeks of being stuffed about (to put it nicely) we went direct to the bank (CBA)…

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5794
just Erin
Nov 16, 2010 1:44 pm
so-tong
so-tong
17 November 2010

Can share your thoughts about my refinance predicament?

Can share your thoughts about my refinance predicament?

Hi zozo, do you mean that brokers can give a discounted rate on top of the published rate for Simplicity Plus? It is currently at 7.1%, lower than ANZ standard variable.…

8
1022
so-tong
Nov 17, 2010 6:48 am
S&M
S&M
17 November 2010

construction loan, how does it work?

construction loan, how does it work?

Hi guys just wanted to know some info on how a construction loan works. How long do they usually take? Is it straight forward? Is it a long process? My bank has told me i…

0
576
S&M
Nov 17, 2010 3:34 pm
S&M
Team PD
Team PD
17 November 2010

Contract signing this Wednesday!

Contract signing this Wednesday!

Hi Mel, Congratulations on your contract signing! :D It is a hefty document indeed, but by the sounds of things you got through it and have done well. A video guide that…

4
582
Team PD
Nov 17, 2010 4:33 pm
Team PD
McLovin
McLovin
17 November 2010

Buying land with small deposit, can it be done?

Buying land with small deposit, can it be done?

Hey Rellie, we're looking at the Cranbourne / Clyde areas in Melbourne, Victoria. Thanks for the tip RE the unconditional finance thing, we'll keep our eyes on that one.

4
1183
McLovin
Nov 17, 2010 5:35 pm
ECOECO
ECOECO
18 November 2010

Cost plus contract - bad idea?

Cost plus contract - bad idea?

It's bad, very bad... no incentive to improve on costs, and you don't know what arrangements your builder has, like rebates from suppliers. The trades will be cost plus…

4
1143
ECOECO
Nov 18, 2010 6:51 am
ECOECO
so-tong
so-tong
19 November 2010

What actually happens - P&I repayment ANZ Simplicity Plus?

What actually happens - P&I repayment ANZ Simplicity Plus?

check with my broker. i think the principal segment of the P&I brings down the principal owing to the bank and brings up the amount of redraw consequently. looks like…

6
714
so-tong
Nov 19, 2010 7:46 am
Helyn
Helyn
19 November 2010

Should I change lender?

Should I change lender?

also, compare exit fees/discharge fees if they apply to you. Big4 usually have a lower exit fee as compared to the non-banks…

7
920
Helyn
Nov 19, 2010 2:33 pm
Helyn
acrebuild1
acrebuild1
19 November 2010

Construction Loan......Help

Construction Loan......Help

Just incase anyone wanted to know what happened in our case - commbank came through with the goods, we refinanced our investment property and land and drew on some of the…

11
2169
acrebuild1
Nov 19, 2010 9:06 pm
kassan1973
kassan1973
20 November 2010

brokers as seen on ACA?

brokers as seen on ACA?

Hi all, a number of weeks ago 6-8 on Melbourne TV ACA or Today tonite saw a segment on 2 brothers running a mortgage broking business does anyone remember this…

0
463
kassan1973
Nov 20, 2010 6:22 pm
dkp
dkp
22 November 2010

Loans for land and house with two banks - possible?

Loans for land and house with two banks - possible?

Thanks all. I don't really intend to have a separate loan or a line of credit. I just wanted to know if it was possible, in which case I may have had some bargaining power…

4
649
dkp
Nov 22, 2010 10:33 pm
Romani
Romani
23 November 2010

Valuation dillema...

Valuation dillema...

$456k is not little , a lot higher:) The bank is yet to come with the new valuation and it has been more than a week since we applied for revaluation..not sure why they…

7
891
Romani
Nov 23, 2010 2:22 pm
xquisite
xquisite
6 December 2010

Purchasing IP with PPOR Redraw & Tax Implications

Purchasing IP with PPOR Redraw & Tax Implications

I did this for 6 years (until I sold the unit) and had no problems whatsoever from ATO or the accountant; he worked out percentages in a few…

11
1596
xquisite
Dec 06, 2010 9:58 am
zozo
zozo
7 December 2010

Simple question but can't find the answer, re: grants

Simple question but can't find the answer, re: grants

If you ring the State Revenue Office they can confirm this for you. I've called them previously and they were very helpful.

2
558
zozo
Dec 07, 2010 10:02 am
Alex88
Alex88
9 December 2010

Credit Approval

Credit Approval

We're with Westpac, the land approval took just over a week, and our construction approval took about 2-3 weeks.

12
1699
Alex88
Dec 08, 2010 11:57 pm
Alex88
Lunchtime
Lunchtime
10 December 2010

top questions that need answers before you get a home loan

top questions that need answers before you get a home loan

as a customer I found the biggest problem was getting accurate time frames for processing the loan. So this needed to be made clearer

5
1312
Lunchtime
Dec 10, 2010 11:57 am
jb_money
jb_money
13 December 2010

on-line queries

on-line queries

The online calculators are for the most part useless. They are as a guide only. Serviceability is very complex and the policies & methods of assessment vary signficiantly…

1
425
jb_money
Dec 13, 2010 9:38 am
Yobes
Yobes
13 December 2010

Mortgage confusion

Mortgage confusion

Thanks for all your help guys! It's all starting to make a lot more sense now.

4
685
Yobes
Dec 13, 2010 9:49 am
yvette72
yvette72
14 December 2010

Its all ours.

Its all ours.
1, 2

lucky you and well done i to remember the day making the last payment on our house we payed our first house up at age 24 but that was before we decided to move its a great…

23
2300
yvette72
Dec 14, 2010 3:15 pm
Deemaree
Deemaree
16 December 2010

My Home loan Predicament

My Home loan Predicament

95% would require mortgage insurance I believe

14
3242
Deemaree
Dec 16, 2010 8:28 pm
Deemaree
Judabelle
Judabelle
21 December 2010

Paying rent to builder/developer before settlement ??

Paying rent to builder/developer before settlement ??

Well we have an agreement - its called a licence agreement and we move in on 3rd Jan and pay rent until settlement date is finalised (probably mid-late January)... Its…

4
906
Judabelle
Dec 21, 2010 6:38 pm


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