Curious as to how people choose their lender / broker
Can be very tricky-as with all the information available-it is always the case it can be misconstrued or straight out false if not applicable to an individuals…
Is booking a land and on-sale later a good strategy?
Hi Sorry, was out of touch a bit and late in response. Yeah you are right. It would be a bit of gambling on the return, I agree. Thanks for the input. It helped.
Time Frame of when to apply for construction loan?
There are some lenders that will allow you to construct your property and drawdown a loan up to a year after land settlement. So if you have all the drawings, contracts,…
10% deposit & clear debts VS 17% deposit with debts for land
It actually comes back to income & timing for your build & what you might need to hold back for finishing items on the home (landscaping etc) - yes it won't affect LMI…
Finance Question for experienced owner builders
For what purpose? I don't think you'd find a lender who would accept a guarantee with owner builder. It comes back to having the equity or the cash to fund the build…
Land and construction loan with same bank. Benefits?
You can't separate the lenders, the lender wants security over your property and there's only the one security. Talk to a broker who can choose the right lender for…
Paying off mortgage cheaper than 26 years ago
Definitely a Sydney thing! Old fibro houses are fetching over 1 mil in my suburb, It's so crazy! and building industry always catches on, so building cost just raise too!…
Home Loan question
NOT giving tax advice, here's a quick blog post I have written which might make sense of the above advice http://homeloancomparison.com.au/offset ... investors/
No Lawyer/Conveyancer for the construction Loan?
if you aren't comfortable at being able to understand the building contract then it may well be worth having a lawyer look over it (I think you will find a conveyancer…
Construction loan query - docs for items outside contract
Its more about the bank being unable to hold a security that doesn't have a kitchen, and being unable to force you to use the money to put a kitchen in. We all know you're…
Query about land and construction loan
Hi Mansawant - they do a valuation on the complete package - what the finished house on the land is worth. If you have equity in the land and a large deposit for the build…
Credit Report - Consumer Credit Enquiries
Thanks so much for your replies! I only have 2 inquiries for last year (none in the last 6 months) and none for this year so sounds like I should be okay. I wonder why my…
Financing Questions Regarding a new off the plan purchase
Thank you very much for that shape. !
What can you include in your construction loan.
Hi Bec, It is important that you provide the bank and valuer all quotes including floor coverings and try and see if you can include the driveway and landscaping into the…
Construction Loan - All Approved BUT unexpected situation
Hi Joshua, generally once the loan is approved and settled (even if only partially) the bank doesn't re-check your employment - they don't want to be stuck with a half…
Personal Finance Calculator: What do you use?
These works really fine... I.m also using the one named "Loans Calculator For Australia" which is a smartphone app and makes every financial calculations with much ease.