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Trent Davidson
Trent Davidson
9 December 2009

Builder requesting info from our Bank

Builder requesting info from our Bank

Hello, Depending on who you are building through they may have a deposit system for first home buyers that involves instead of you paying the deposit. The builders will…

1
350
Trent Davidson
Dec 09, 2009 11:57 am
Trent Davidson
Trent Davidson
Trent Davidson
9 December 2009

land loan, do we need formal approval now or later?

land loan, do we need formal approval now or later?

Hello, The most a lending institution would likely want to do at this stage is a conditional approval anyway. Depending on the stage of the development you are building…

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821
Trent Davidson
Dec 09, 2009 12:54 pm
Trent Davidson
Trent Davidson
Trent Davidson
10 December 2009

In a fix --- Tender and loan amount !

In a fix --- Tender and loan amount !

Rupz. Your broker or Lender needs to frame it the right way. If need be submit it to credit to include the extra quotes and then have the valuer value the property land…

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706
Trent Davidson
Dec 10, 2009 9:33 am
Trent Davidson
draco76
draco76
11 December 2009

how do you monitor your loan?

how do you monitor your loan?

thanks for all the replies.. i will look into that ANZ one.. land settled today so I officially got a mortgage ::hyst:: ::hyst::

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743
draco76
Dec 11, 2009 9:43 pm
jb_money
jb_money
18 December 2009

Are valuations the last step on a loan application??

Are valuations the last step on a loan application??

Yes this varies depending on the lender: CBA / Colonial: At present around 2 - 3 working days. Normally the loan doesn't have to go back to credit unless there is a…

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447
jb_money
Dec 18, 2009 9:06 am
luis_i
luis_i
18 December 2009

To Fix or to not?? HELP!!!!

To Fix or to not?? HELP!!!!

To fix or not to fix, that is the question. The question is also based on a matter of timing. If at the time you are applying for your loan the rates are considered…

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564
luis_i
Dec 18, 2009 1:38 pm
rena
rena
19 December 2009

Does this offer sound possible/fair?

Does this offer sound possible/fair?

For you, I'd forget it and keep looking myself, it's too much to pay for a bloody house. We all need to start putting our…

10
777
rena
Dec 19, 2009 10:25 am
wonderland
wonderland
29 December 2009

When do you pay your 20% of the building loan

When do you pay your 20% of the building loan

Thanks everyone for your replies. I got an answer from my broker and have been told that i have actually paid for the 20% before the construction of the house started. The…

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1113
wonderland
Dec 28, 2009 11:45 pm
wonderland
bel
bel
2 January 2010

Owning two homes - tax

Owning two homes - tax

:oops: Got a bit confused about the equity bit!!! :lol: Good luck with the bank! Bel :D

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569
bel
Jan 02, 2010 1:14 pm
bel
aLLaNNa1
aLLaNNa1
6 January 2010

Suncorp pre-approval

Suncorp pre-approval

Thanks for clarifying that issue Trent :)

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1482
aLLaNNa1
Jan 06, 2010 10:53 am
The Brain
The Brain
9 January 2010

Need some help in finding out how much funds needed...

Need some help in finding out how much funds needed...

Something else about the stamp duty too. As mentioned previously I too highly recommend that you pay it up front and not include it in your mortgage if you can help it.…

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916
The Brain
Jan 09, 2010 4:27 pm
rolandd
rolandd
10 January 2010

Is this okay to do?

Is this okay to do?

Whatever works for you in practice is the best option, not what is in theory more "financially intellectual" ::lol:: For example, like Hels, I know Line…

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1350
rolandd
Jan 10, 2010 8:25 am
Richo
Richo
13 January 2010

Loan for HOuse & Land with title on land not due till 2010

Loan for HOuse & Land with title on land not due till 2010

Been a while, but I thought that I should update my story on here, as it may be helpful for others. House was kept close to budget, but provisional site cost pushed it up…

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1315
Richo
Jan 13, 2010 11:10 am
Richo
thlo
thlo
19 January 2010

Online House Valuation

Online House Valuation

All these service do is look for recent sales of similar size properties in the vicinity of your home. There is no physical inspection involved so they are quite vague but…

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612
thlo
Jan 19, 2010 12:32 am
thlo
luis_i
luis_i
20 January 2010

*

*

Yes, I've done this to take advantage of the increase in value of the property of our home. Would be a waste if I wasn't able to use the equity to my advantage in some…

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1180
luis_i
Jan 20, 2010 5:58 pm
elastic
elastic
22 January 2010

Job change in midst of construction - banks view

Job change in midst of construction - banks view

We're going through this as well, our broker has basicall recommended that we don't until after our land has settled and as such the first draw…

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607
elastic
Jan 22, 2010 7:25 am
Bam
Bam
24 January 2010

Broker Melb Northern suburbs

Broker Melb Northern suburbs

Will do :D I'll have a look around tomorrow for you

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343
Bam
Jan 24, 2010 7:52 pm
Bam
questor
questor
27 January 2010

Let me tell you about a funny FHOG story vs the bank

Let me tell you about a funny FHOG story vs the bank

::angry:: No wonder lots of people are opting for private loaning companies. Tsk tsk.

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1315
questor
Jan 27, 2010 1:22 am
questor
questor
questor
27 January 2010

Another valuation question?

Another valuation question?

Good thing the valuer included them in your valuation. Otherwise, ::hyst::

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questor
Jan 27, 2010 1:31 am
questor
camyperth
camyperth
29 January 2010

What to do with our house: new way of looking at this

What to do with our house: new way of looking at this

Yes,this is certainly right - any income you earn from rentals is definetely subject to tax. On the other hand all expenses such as agents fees, rates, maitenance,…

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680
camyperth
Jan 29, 2010 9:44 pm
2
435
tortoise
Feb 07, 2010 8:06 pm
16
2575
Jodie80
Feb 09, 2010 11:34 pm
Jodie80
draco76
draco76
10 February 2010

Money in the offset vs in the loan

Money in the offset vs in the loan

thanks all.. i guess i'll be putting it in the offset then..

6
585
draco76
Feb 10, 2010 6:16 pm
jb_money
jb_money
11 February 2010

Getting a thankyou gift for a mortgage broker?

Getting a thankyou gift for a mortgage broker?

The best gift you can give to a good broker is to actively recommend him to your friends and family when they need a loan. Brokers are small business owners and really…

5
730
jb_money
Feb 11, 2010 7:48 pm
Fernyhouse
Fernyhouse
15 February 2010

BUYING A SECOND HOME

BUYING A SECOND HOME

You will have to talk to the bank or a mortage broker, it's dependent on the equity in the house you currently have and the amount you are able to borrow as well as…

1
390
Fernyhouse
Feb 15, 2010 3:06 pm
Trent Davidson
Trent Davidson
17 February 2010

LVR on project home building costs

LVR on project home building costs

The property is initiallialy security for the loan. So in effect removing the improvement takes away the habitability of the property. Dropping it into the vacant land…

6
567
Trent Davidson
Feb 17, 2010 11:50 am
Trent Davidson
coolmate
coolmate
19 February 2010

What's your mortgage size for your new home?

What's your mortgage size for your new home?

Our PPOR loan is about 400k and investment loan now is 640k.

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1396
coolmate
Feb 19, 2010 9:17 am
jb_money
jb_money
20 February 2010

Post-renovation valuation financing

Post-renovation valuation financing

If you are using a licenced builder and your renovations will add value to the property then in most cases you can get a home loan increase based on the on completion…

2
491
jb_money
Feb 20, 2010 2:36 pm
thlo
thlo
22 February 2010

Mobile Banker

Mobile Banker

i am buliding my first house we have been dealing with an ANZ mobile banker as my partner works hours that make it had for us to get to the…

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654
thlo
Feb 22, 2010 12:59 pm
thlo
thlo
thlo
22 February 2010

valuation ?

valuation ?

Just wondering out of curiosity. Why won't banks reveal the valuation amount to you if it comes in at what you need or above, but they will if it…

3
503
thlo
Feb 22, 2010 1:04 pm
thlo
thlo
thlo
22 February 2010

Westpac's Variable Rate Increase; Will others follow?

Westpac's Variable Rate Increase; Will others follow?
1, 2

When I was searching I noticed that many of the lenders who provided much lower standard rates did so in introductory offers, or did not provide…

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thlo
Feb 22, 2010 1:13 pm
thlo
45
2700
thlo
Feb 22, 2010 1:28 pm
thlo
thlo
thlo
22 February 2010

How to receive a rate discount of loan?

How to receive a rate discount of loan?

Am I in a reasonable position to negotiate a rate reduction? Is a negotiated reduction over the life of the loan? Or is it one of those honeymoon…

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1419
thlo
Feb 22, 2010 1:52 pm
thlo
thlo
thlo
22 February 2010

Loan Offer & RBA Rate rise

Loan Offer & RBA Rate rise

I already have a loan offer and am going through the signatures, obtaining certificate of currency, title transfers etc If a rate rise occurs during…

3
534
thlo
Feb 22, 2010 2:03 pm
thlo
thlo
thlo
22 February 2010

Selling home with mortgage

Selling home with mortgage

Also important to note; you don't always have a surplus when you sell a home that is mortgaged. You can have a shortfall as well and you need to pay this amount on settlement day.

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773
thlo
Feb 22, 2010 2:18 pm
thlo
thlo
thlo
22 February 2010

House Deposit - How to save SUGGESTIONS?

House Deposit - How to save SUGGESTIONS?
1, 2

Yes, I think experimenting with "not using credit cards for 3…

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thlo
Feb 22, 2010 2:42 pm
thlo
Vundaful!
Vundaful!
22 February 2010

Furious with bank!!

Furious with bank!!

I know we're given to whinging and moaning about things, but banks really do deserve the awful reputation they have. We have given up on ours - just when you think they…

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676
Vundaful!
Feb 22, 2010 5:38 pm
Vundaful!
thlo
thlo
26 February 2010

Does anyone have ANZ Simplicity Plus?

Does anyone have ANZ Simplicity Plus?

NO, apparently they have been preparing these loan documents for the last two days now. Well it took 7 business days to start preparing the loan documents after the…

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thlo
Feb 26, 2010 1:56 pm
thlo
Trent Davidson
Trent Davidson
1 March 2010

hypothetical

hypothetical

Hey Ezza, Depending on the lender you may not even need to 'refinance'. You may be able to request to have the guarantee's removed as a seperate process. What you can…

3
680
Trent Davidson
Mar 01, 2010 11:55 am
Trent Davidson
mwa7876
mwa7876
3 March 2010

FHOG at or after settlement?

FHOG at or after settlement?

I am with Trent and thlo on this one. I always lodge the FHOG application with the lender and it is paid at settlement regardless of the LVR. I can't think of any reasons…

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633
mwa7876
Mar 03, 2010 10:34 am
Jodie80
Jodie80
4 March 2010

Who does the final inspection? or builder? or a 3rd a party?

Who does the final inspection? or builder? or a 3rd a party?

I believe its your Site Supervisor and yourself who would do the final inspection? Unless you have arranged for an independent building inspector as well. At my place, my…

1
388
Jodie80
Mar 04, 2010 11:54 am
Jodie80
*frosty*
*frosty*
4 March 2010

Question for a friend - Acquired Money

Question for a friend - Acquired Money

Hmmmmm interesting, thanks Trent!! I'll pass on that info. Sounds like a term deposit is the way to go. However, just out of curiosity, we've talked about buying land in…

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582
*frosty*
Mar 04, 2010 3:57 pm
*frosty*
Pepto471
Pepto471
5 March 2010

Bank Valuation Short!!!! what to do??

Bank Valuation Short!!!! what to do??
1, 2, 3

can someone help me with these questions i have a loan approved with CBA, i have signed documents etc and my loan account now appears on my netbank. what is the maximum…

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6405
Pepto471
Mar 05, 2010 4:56 pm
Pepto471
Eoh
Eoh
8 March 2010

FHOG extension

FHOG extension

Anyone who can help us? We do need your help. Any suggestions should be helpful. Thank you so…

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1781
Eoh
Mar 08, 2010 1:12 pm
Pepto471
Pepto471
10 March 2010

Subject to finance at auctions

Subject to finance at auctions

thanks Trent. yu have shed me with a lot of light.

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Pepto471
Mar 10, 2010 10:39 am
Pepto471
mwa7876
mwa7876
12 March 2010

Pre-approval - what good is it?

Pre-approval - what good is it?

Not all pre-approvals are useless. It depends on the lender you use. For example some lenders we use, such as Bankwest, only electronically assess pre-approval…

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mwa7876
Mar 12, 2010 12:02 am
zoe's mama
zoe's mama
15 March 2010

Challenging bank valuation in established suburb (WA)

Challenging bank valuation in established suburb (WA)

I managed to get evidence that our valuation was ~30k short. Still didn't help though. I tried my best to negotiate, now I just have to suck it up and move on ::cry:: :::

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1212
zoe's mama
Mar 15, 2010 9:57 pm
Pepto471
Pepto471
16 March 2010

FHOG??? Vic

FHOG??? Vic

Hi all!! I'm new here and did my best to search for my answer but couldn't find what I was looking for... Anyway We signed our land…

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683
Pepto471
Mar 16, 2010 8:15 pm
Pepto471

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