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jbdave
jbdave
9 September 2009

Question about constructing on land owned by a third party

Question about constructing on land owned by a third party

Interesting. I'm no expert, but a lawyer would have to be contacted in order to facilitate this arrangement. The one issue that stands out for me is that the banks will…

1
257
jbdave
Sep 09, 2009 6:03 pm
thlo
thlo
9 September 2009

Home loan with Commonwealth Bank

Home loan with Commonwealth Bank

thlo, we expect to be signing the contracts for a new property tomorrow. We already have pre-approval. My husband is going overseas on Sunday for…

19
4571
thlo
Sep 10, 2009 12:56 am
thlo
ECOECO
ECOECO
10 September 2009

Homeside Stuffup

Homeside Stuffup

Everywhere... but (supposedly) only…

10
663
ECOECO
Sep 10, 2009 8:24 pm
ECOECO
thlo
thlo
12 September 2009

Credit card debt affects borrowing capacity?

Credit card debt affects borrowing capacity?
1, 2, 3

I agree you don't have to be old to think in this way; ie. spend only what you have, but there are too many temptations to spend what you don't have.

41
1717
thlo
Sep 12, 2009 1:14 am
thlo
Hoffies
Hoffies
13 September 2009

Mortgage Protection Insurance Vs Income Protection Insurance

Mortgage Protection Insurance Vs Income Protection Insurance

We have income protection/trauma/death/partial or permenent disability insurance and I think it's great. Our financial advisor set this up…

14
2847
Hoffies
Sep 13, 2009 8:41 am
travelbug
travelbug
13 September 2009

Qantas Credit Union

Qantas Credit Union

Hi, what is the rate? Is this for a PPOR or and investment? Hubby works for them. I didn't even think about them. thanks.

4
551
travelbug
Sep 13, 2009 9:48 am
thlo
thlo
13 September 2009

LMI for westpac

LMI for westpac

This is a trade secret. Can't say. ::wink:: But the answer was No when I was last dealing with Westpac (a few months ago).

1
261
thlo
Sep 13, 2009 2:25 pm
thlo
trepidman
trepidman
17 September 2009

bank valuation and site works

bank valuation and site works

It includes the site costs. It can also include some external things like a driveway and fences. Used to be some people loaded it up with costs for outdoor spas and the…

1
333
trepidman
Sep 18, 2009 12:21 am
trepidman
harribeka
harribeka
18 September 2009

Construction Loans & Stage Payments

Construction Loans & Stage Payments

Hi there, If you have already signed your loan contract and the build price is less when finished than you have borrowed, at completion you get the leftover funds. It…

2
605
harribeka
Sep 18, 2009 9:03 pm
harribeka
thlo
thlo
23 September 2009

Do I really need a broker?

Do I really need a broker?
1, 2, 3, 4, 5

I found that it was actually not to difficult after the first 3/4 banks, I new what I was looking for, said that straight up, an the bankers…

82
4928
thlo
Sep 23, 2009 1:52 pm
thlo
kkatt
kkatt
23 September 2009

Signing contract before getting loan

Signing contract before getting loan

kkatt: wouldn't cba only pay our builder for the carpet, tiles, etc because that is what they valuated? Our tender is roughly the same price as…

7
559
kkatt
Sep 23, 2009 3:33 pm
kkatt
thlo
thlo
23 September 2009

Home Loans for First home Buyers

Home Loans for First home Buyers

Probably the ultimate penalty part of it, that is if you do not buy a first home with the money in that account it all gets transferred to…

17
1005
thlo
Sep 23, 2009 3:46 pm
thlo
*frosty*
*frosty*
23 September 2009

UNCONDITIONAL APPROVAL!! WOO-WEEEEE!

UNCONDITIONAL APPROVAL!! WOO-WEEEEE!

Congratulations!!! ::celeb:: ::celeb:: ::celeb:: So exciting! Now the fun stuff begins!

6
459
*frosty*
Sep 23, 2009 5:30 pm
*frosty*
craigandamy
craigandamy
3 October 2009

Final Loan Approval Declined - Can they do this?

Final Loan Approval Declined - Can they do this?

We had a similar situation at the start of the year with our bank and since then things have got alot tougher. Essentially unless you have been given your loan documents…

15
2267
craigandamy
Oct 03, 2009 2:10 pm
singlemum2daughters
singlemum2daughters
6 October 2009

anyone with homestart/home loan centre?

anyone with homestart/home loan centre?

michael sa; sorry to hear about the rough move what happened. pm if you prefer. you wouldnt happen to be just across the road from woolies well it would be to your slight…

9
1282
singlemum2daughters
Oct 06, 2009 8:46 am
singlemum2daughters
razorman
razorman
8 October 2009

Sell first or get bridging loan?

Sell first or get bridging loan?

Bridging loans really scare me. The interest rate is always high and could could get stuck between properties. Less likely in a booming market but more likely now. Is…

18
903
razorman
Oct 08, 2009 12:57 am
waranraz
waranraz
8 October 2009

waiting and very nervous for loan approval

waiting and very nervous for loan approval

ive been waiting a while for formal approval with keystart, on tuesday my broker called to tell me keystart where assesing our loan that day , i…

11
878
waranraz
Oct 08, 2009 2:25 pm
waranraz
singlemum2daughters
singlemum2daughters
9 October 2009

Borrowing: A kick in the teeth (and more)

Borrowing: A kick in the teeth (and more)
1, 2

thats good to hear :z: fabulous news... just remember theres always a light at the end of the tunnel.

33
1851
singlemum2daughters
Oct 09, 2009 4:58 am
singlemum2daughters
Domenic
Domenic
9 October 2009

Construction Loan payment question

Construction Loan payment question

Thank you for your comments Yeah its interest only until the final payment is due.

5
440
Domenic
Oct 09, 2009 12:10 pm
Sierra
Sierra
10 October 2009

Construction loan payments?

Construction loan payments?

no probs. ie. ( The amount owed (x) percent interest rate ) / 356 = Interest per day ... ... $10280 / 356 = $28.88 (per…

4
505
Sierra
Oct 10, 2009 12:48 am
Sierra
elastic
elastic
12 October 2009

How to save thousands on your mortgage

How to save thousands on your mortgage
1, 2

I agree with Glen Glen, If you think that your PPOR may become a investment property down the track, it is alot better to use the IO/Offset account combination as it…

22
1884
elastic
Oct 12, 2009 11:40 am
Trent Davidson
Trent Davidson
13 October 2009

No repayment changes during construction???

No repayment changes during construction???

Hello Everyone, Anz handle their construction lending a little different to other institutions. As during the construction period the lending is Interest Only they have a…

3
326
Trent Davidson
Oct 13, 2009 8:20 pm
Trent Davidson
Trent Davidson
Trent Davidson
13 October 2009

Does Bank require building permits before full appproval?

Does Bank require building permits before full appproval?

Hello Everyone, In my experience as a lender and broker I have found that formal approval can be obtained without having full permit approvals. Plans and specs are a…

11
683
Trent Davidson
Oct 13, 2009 8:50 pm
Trent Davidson
Trent Davidson
Trent Davidson
13 October 2009

Consolidating debts into a Home Loan - Possible??

Consolidating debts into a Home Loan - Possible??

Hey Everyone, GlenGlen is correct. There are a few lenders that will do the Family Equity scenario and assist through using your parents property as a guarantee (provided…

13
871
Trent Davidson
Oct 13, 2009 9:40 pm
Trent Davidson
Ziedrich
Ziedrich
14 October 2009

FHB buying vacant lot

FHB buying vacant lot

Hello, just an update. I called DTF =) They confirned that FHB like myself must pay stamp duty on vacant lot of land. I can then apply for the FHOG when I have a building…

3
403
Ziedrich
Oct 14, 2009 8:02 pm
Trent Davidson
Trent Davidson
19 October 2009

What if titling is delayed for the FHOG

What if titling is delayed for the FHOG

Hello, The two posts above are correct. If you can get some confirmation from your builder etc that there is a delay and a brief outline of the reasons. In this case…

3
310
Trent Davidson
Oct 19, 2009 12:17 pm
Trent Davidson
Trent Davidson
Trent Davidson
19 October 2009

HELP! Finance Query re Deposit for Build of 2nd Home & Land

HELP! Finance Query re Deposit for Build of 2nd Home & Land

GlenGlen. Cba does have break costs and compared to other lenders $700 for the DEF isnt that large of a cost. The broker in this case is probably looking at the exposure…

17
917
Trent Davidson
Oct 19, 2009 2:01 pm
Trent Davidson
adrian
adrian
19 October 2009

House prices set to rise 20% within 3 years

House prices set to rise 20% within 3 years
1, 2

I'm hoping house rates rise a bit, so I can make a profit on my place in 5 years or so :)

23
1027
adrian
Oct 19, 2009 3:44 pm
asterix79
asterix79
22 October 2009

Fixed interest rates

Fixed interest rates
1, 2

As for the issue at hand. To fix or not to fix. I like a lot of other brokers will say 'It really does depend on your individual…

23
1252
asterix79
Oct 22, 2009 11:29 am
zoe's mama
zoe's mama
22 October 2009

Feedback on Zincalume roof

Feedback on Zincalume roof

I am building in Bassendean, WA, the builder listed Colorbond as standard, but I chose Zincalume instead as it is cheaper and has better thermal…

12
1952
zoe's mama
Oct 22, 2009 4:55 pm
Rizzo
Rizzo
22 October 2009

stupid bank, what to do now?? update

stupid bank, what to do now?? update

lol 4 walls, might do just that :D Trent, no I can't access any view comments button. I did have a missed call and message on my phone from another lady saying she was…

12
726
Rizzo
Oct 22, 2009 9:27 pm
jb_money
jb_money
25 October 2009

Settlement Process.

Settlement Process.

It is relatively simple. Once the loan is approved, the contracts of sale have been exchanged and settlement approaches then the solicitor / conveyancer for the vendor…

1
334
jb_money
Oct 25, 2009 4:17 pm
jb_money
jb_money
25 October 2009

Does a decrease in wage effect anything now?

Does a decrease in wage effect anything now?

If the loan has been advanced already then this is no problem. If the loan has not yet been advanced (construction drawdowns don't count) then it may be a problem…

7
576
jb_money
Oct 25, 2009 4:24 pm
Trent Davidson
Trent Davidson
26 October 2009

Loan for Reno - is this normal ?

Loan for Reno - is this normal ?

For cosmetic renovations that is the case JB. But if you are doing structural renovations and that 80% is based on the existing valuation or the valuation 'prior' to the…

5
435
Trent Davidson
Oct 26, 2009 1:02 pm
Trent Davidson
freddo
freddo
28 October 2009

westpac lmi increase?

westpac lmi increase?

The calculator does not appear to be using new numbers. The numbers are…

7
1183
freddo
Oct 28, 2009 11:34 pm
trepidman
trepidman
29 October 2009

First progress payment question

First progress payment question

My bank has asked for a building permit before they will release any funds. Means I had to pay the contract deposit 5% myself. They say I can claim it back once the…

9
976
trepidman
Oct 29, 2009 9:28 pm
trepidman
thlo
thlo
30 October 2009

Valuations coming in short - what did you do?

Valuations coming in short - what did you do?
1, 2

We are now talking to another lender out of sheer principle to see what they can do as a fall back as we basically have to cut out…

39
2422
thlo
Oct 30, 2009 10:38 pm
thlo
Helyn
Helyn
1 November 2009

Read the fine print before signing home loan contracts

Read the fine print before signing home loan contracts

Our credit union does not charge any deferred establishment fee or early penalty of any sort for paying loan out early.

5
662
Helyn
Nov 01, 2009 6:58 pm
Helyn
Trent Davidson
Trent Davidson
2 November 2009

unconditional approval..

unconditional approval..

Congratulations Brydz05. Enjoy yourself.. It seems it has been quite the wait.. and worth it in the end :D

5
620
Trent Davidson
Nov 02, 2009 10:33 am
Trent Davidson
dragonflychic
dragonflychic
5 November 2009

Keystart unconditional approval

Keystart unconditional approval

Our unconditional took 5-6 weeks from Rams. Keystart probably are flat out at the moment so I wouldn't hold my breath.

1
465
dragonflychic
Nov 05, 2009 5:22 pm
dadandsue
dadandsue
6 November 2009

so angry and confused

so angry and confused

It looks like it was probably built around the World War 2 era. My best guess is 1940-1950

8
810
dadandsue
Nov 06, 2009 7:16 pm
Matilda
Matilda
8 November 2009

Finance for Rural property

Finance for Rural property

H_O_D, Trent and glenglen, thanks for your replies and the information, that sounds a bit more encouraging! Since my original post, I've now moved to a large regional…

8
2830
Matilda
Nov 08, 2009 9:09 am
Matilda
ourdesign09
ourdesign09
8 November 2009

Construction loan Question??

Construction loan Question??

okay yes it was used for the valuation but we havent borrowed anywhere near the valued ammount not even half!!! Also they have already released 2 payments to the builder…

2
436
ourdesign09
Nov 08, 2009 9:23 am
yvette72
yvette72
11 November 2009

low doc construction loan

low doc construction loan

we had a low doc construction loan the left over money from the loan was depositing into our bank account after handover of the house.that was with the bank of alediable

2
357
yvette72
Nov 11, 2009 7:54 pm
Sierra
Sierra
11 November 2009

home loan portability question

home loan portability question

Hello Ishenka, welcome... This is also called a substitution of security. We unsuccessfully tried doing it for our construction loan to avoid fees for breaking our old…

1
428
Sierra
Nov 11, 2009 10:18 pm
Sierra
thlo
thlo
13 November 2009

First Home Buyer Stress ?

First Home Buyer Stress ?
1, 2

Lenders have started featuring these services more lately.

31
1572
thlo
Nov 13, 2009 1:51 am
thlo
thlo
thlo
13 November 2009

Bank policy change!!

Bank policy change!!

Hi, we were hoping to use loan portability as we are selling our house and as I'm not working at the moment we can't 'afford' a loan according to…

1
398
thlo
Nov 13, 2009 1:07 pm
thlo


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