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Last Post
magikalcrab
magikalcrab
21 February 2011

Finance for build?

Finance for build?

Thanks Arabella, I'm definatley going to have a chat to one some day. I just like to have a bit of knowledge before talking to the "pros" so I don't get taken for a ride!

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1328
magikalcrab
Feb 21, 2011 4:35 pm
shape
shape
21 February 2011

buying a land... and build soon...

buying a land... and build soon...

Welcome kornjen, applying for consutruction loan: 1. Speak to a mortgage broker or the bank to work out how much you can borrow/ service 2. Find the land you like- make…

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1541
shape
Feb 21, 2011 2:25 pm
shape
shape
shape
17 February 2011

Finances for Co Owner build?

Finances for Co Owner build?

Also note BrendanF - Owners build can run into a lot of trouble in terms of finance and budget....highly not suggested unless you need to.

6
738
shape
Feb 17, 2011 6:17 pm
shape
Domizm
Domizm
15 February 2011

Land Tax Penalty - Advice please!!

Land Tax Penalty - Advice please!!

Definetly not stamp duty, paid that as well. We are paying the developers land tax for the year 2011, he was the owner still on 31/12/2012 howver as we missed settlement…

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1134
Domizm
Feb 15, 2011 10:39 am
rajan_g4
rajan_g4
15 February 2011

3yr Special Economiser with Comm Bank

3yr Special Economiser with Comm Bank

Ohh yeah, they have the same loan with lower int rates. There are a few differences, but eventually I ll be saving $300 if I can successfully switch over to NAB from this…

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1192
rajan_g4
Feb 15, 2011 7:02 am
rajan_g4
shape
shape
13 February 2011

creative lending

creative lending

In terms of borrowing, your situation is not bad; so don't be too negative about it :) If your happy to go with a small bank ( ie Citibank, ING...) then this is something…

8
853
shape
Feb 13, 2011 2:26 pm
shape
shape
shape
13 February 2011

Bank valuations

Bank valuations

Do the banks usually do a valuation of your house once it has been completed? I just finshed building my new house and the bank has sent me the…

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1856
shape
Feb 13, 2011 1:17 pm
shape
free will
free will
12 February 2011

SMSF for Investment Property

SMSF for Investment Property

he poster didn't mention where they were going to buy so how do you know it's the top of the market? They only said where they live. and BTW…

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974
free will
Feb 12, 2011 7:25 am
shape
shape
9 February 2011

ING Constuction/Mortgage Simplifier loan

ING Constuction/Mortgage Simplifier loan

Hi, I normally dont suggest ING for construction ( because of the rate) There are plenty that offer lower rates for construction - Westpac (7.16% - after construction…

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2944
shape
Feb 09, 2011 8:07 pm
shape
JuJuB
JuJuB
8 February 2011

Buy or rent? Place earnings into a house or savings account?

Buy or rent? Place earnings into a house or savings account?

Im certainly no expert but will go on my experience. I bought a place on a single parents income paying 3X what I paid in rent but after 5 years my mortgage is 1/3 less on…

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1485
JuJuB
Feb 08, 2011 9:10 pm
JuJuB
JuJuB
8 February 2011

Relocation Construction Loan or wait to sell?

Relocation Construction Loan or wait to sell?

DH and I bought a 5 acre block last may with the goal of selling our house to enable us to build our dream home. We havent felt the time is right to sell and would like to…

0
344
JuJuB
Feb 08, 2011 8:29 pm
jb_money
jb_money
7 February 2011

planning to buy a land which will be registered later

planning to buy a land which will be registered later

Just to let you know any loan that is approved now will be subject to re-assessment prior to settlement. This is not just a valuation, but also a full review of your…

3
618
jb_money
Feb 07, 2011 12:55 pm
jb_money
jb_money
7 February 2011

What to lodge to valuer to try and get maximum valuation

What to lodge to valuer to try and get maximum valuation

Very few banks finance partially complete properties. It sounds like you have a lot of equity which can be a big help in these situations. If I were you I would approach…

3
787
jb_money
Feb 07, 2011 12:51 pm
kek
kek
29 January 2011

blank

blank

Funny but true story - my (sometimes daft) parents are in process of buying another home. They search everywhere for the CT for their existing…

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1532
kek
Jan 29, 2011 3:57 pm
kek
shape
shape
26 January 2011

Partially completed house? - Value?

Partially completed house? - Value?

Hiya, The story so far? -Renovating and extending a house. -Got it to lock up ourselves. Financed it with approx $50K of our own money -We…

2
938
shape
Jan 26, 2011 12:52 am
shape
shape
shape
25 January 2011

Does anyone know active homebuyers or AHB liquidation?

Does anyone know active homebuyers or AHB liquidation?

Current Affair can't do anything for you as unfortunately they have gone into liqudation. Your best option is through ASIC and the ombudsman - usually takes them 10…

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1228
shape
Jan 25, 2011 4:24 pm
shape
shape
shape
25 January 2011

do you need a deposit for a building loan?

do you need a deposit for a building loan?

hi people just wondering if you need a deposit when applying for a building loan or do they use the fhog. Reason im asking is that my bank has asked…

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4105
shape
Jan 25, 2011 3:36 pm
shape
shape
shape
25 January 2011

First Home Buyer Questions

First Home Buyer Questions

just a question, when buying a land do you actually know how much council rates you need to pay per year? is it the same if you are residing on…

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2083
shape
Jan 25, 2011 3:33 pm
shape
ditzydame
ditzydame
24 January 2011

anyone have any comments on ING for home loans

anyone have any comments on ING for home loans

yes the email is a good idea i have spoken to them and sorted it out just a small issue but a potential problem and really it shouldnt have happened as it is a matter of…

6
667
ditzydame
Jan 24, 2011 2:38 pm
kornjen
kornjen
23 January 2011

Mortgage House

Mortgage House

Today, we went to oran park to view some of the builder homes... and I ran pass a guy who is offering home mortgage by the name of Mortgage House. it offers around 6.92 %…

0
411
kornjen
Jan 22, 2011 11:53 pm
shape
shape
22 January 2011

Employment issues =( Totally LOST faith!!

Employment issues =( Totally LOST faith!!

Government grant is not considered "genuine saving". sorry

9
1592
shape
Jan 21, 2011 11:15 pm
shape
shape
shape
22 January 2011

No LMI for LVR of 90%?

No LMI for LVR of 90%?

Hi Michael, We're in the same situation as you. However, our lender has advised we would still pay the same amount of LMI. We've got exactly 10%…

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1789
shape
Jan 21, 2011 11:11 pm
shape
flame_on
flame_on
19 January 2011

Bank is still suffing us around grrr

Bank is still suffing us around grrr

I'm joining this debate late, but I have been in the same situation (i.e. bank re-valued six months after unconditional approval only to devalue by approx $20,000 -…

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2588
flame_on
Jan 19, 2011 3:28 pm
flame_on
Jme
Jme
19 January 2011

Where did you live when you built?

Where did you live when you built?
1, 2

Hi all Thanks so much for your replies. Apologies for not coming in sooner. We have decided to buy established. We could probably just squeeze by with rent costs and…

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3718
Jme
Jan 19, 2011 12:28 pm
deb17
deb17
15 January 2011

Need advice on selecting a home loan

Need advice on selecting a home loan

We are with ME, and have been for years. We have looked at other loans from time to time, we were going to use a Mortgage Broker at one stage, we told him what we were…

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2624
deb17
Jan 15, 2011 6:30 pm
free will
free will
8 January 2011

use existing property as collateral

use existing property as collateral

Given Australian housing prices are some of the highest in the world, leveraging on investment properties is not what I would call a good investment decision. But of…

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1706
free will
Jan 08, 2011 7:47 pm
shape
shape
6 January 2011

Switching jobs, been in the same industry for 20 months

Switching jobs, been in the same industry for 20 months

In short, it depends on the lender - some credit union such as BMC have a product line where probation is fine- but you must be in the same industry for more hten 24 month…

1
540
shape
Jan 06, 2011 12:37 pm
shape
dragonflychic
dragonflychic
26 December 2010

First Home Buyers Finance Advice

First Home Buyers Finance Advice

That sounds like an over priced house on cheap land. I'm in Perth too. Our house, land, stamp duty(our 2nd property and for land only) and mortage insurance I'm sure has…

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1812
dragonflychic
Dec 26, 2010 8:43 pm
jb_money
jb_money
24 December 2010

House and Land package- cheap land price? Revalue?

House and Land package- cheap land price? Revalue?

Never expect miracles from bank valuers! If you have strong sales evidence to support your estimated value then please give the list of sales to the valuer, it is always…

2
773
jb_money
Dec 24, 2010 4:16 pm
jb_money
jb_money
24 December 2010

mortgage

mortgage

If the bankruptcy is discharged you can borrow up to 80% of the value of your current property and the new property. You will need to go with a non-conforming or…

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743
jb_money
Dec 24, 2010 4:13 pm
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…

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Judabelle
Dec 21, 2010 6:38 pm
Deemaree
Deemaree
16 December 2010

My Home loan Predicament

My Home loan Predicament

95% would require mortgage insurance I believe

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3318
Deemaree
Dec 16, 2010 8:28 pm
Deemaree
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…

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2397
yvette72
Dec 14, 2010 3:15 pm
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.

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697
Yobes
Dec 13, 2010 9:49 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
434
jb_money
Dec 13, 2010 9:38 am
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

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1353
Lunchtime
Dec 10, 2010 11:57 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.

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1934
Alex88
Dec 08, 2010 11:57 pm
Alex88
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
595
zozo
Dec 07, 2010 10:02 am
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…

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1657
xquisite
Dec 06, 2010 9:58 am
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
970
Romani
Nov 23, 2010 2:22 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
667
dkp
Nov 22, 2010 10:33 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
466
kassan1973
Nov 20, 2010 6:22 pm
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
2314
acrebuild1
Nov 19, 2010 9:06 pm
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…

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948
Helyn
Nov 19, 2010 2:33 pm
Helyn
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…

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747
so-tong
Nov 19, 2010 7:46 am
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
1174
ECOECO
Nov 18, 2010 6:51 am
ECOECO
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.

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1196
McLovin
Nov 17, 2010 5:35 pm
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
600
Team PD
Nov 17, 2010 4:33 pm
Team PD
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
584
S&M
Nov 17, 2010 3:34 pm
S&M

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