Home
Pros
Forum
  • About
  • Join Community
  • Contact
Reply
WatchingStarredHistory
InboxSent
MembersPros
#Unanswered     #Active

Browse Forums
Home Finance
Standard
List
Topics
Author
Replies
Views
Last Post
shape
shape
22 January

Declined by LMI - what to do next?

Declined by LMI - what to do next?

Then your fine, especially given the time-frame.

16
5520
shape
Jan 22, 2019 7:47 pm
shape
michae
michae
6 October 2017

Construction loan repayments

Construction loan repayments

You might probably know that, loan repayments are also interest only during the construction period, providing comfort and security to renovators and home builders by…

6
1522
michae
Oct 06, 2017 7:32 pm
michae
plc
plc
16 June 2017

Conditional approval subject to valuation

Conditional approval subject to valuation

It's good to hear you made allowances during the construction phase with continued rent, a lot of people dont do that. If you're eligible for FHOG, then that's some…

7
1749
plc
Jun 16, 2017 1:01 pm
becjarrettdalton
becjarrettdalton
12 March 2017

Refinance or stick with existing bank - reno advice?

Refinance or stick with existing bank - reno advice?

The question comes down to two points - serviceability, can you afford the loan - and that's a huge conversation And secondly, does the loan still suit you. From that…

1
622
becjarrettdalton
Mar 12, 2017 4:14 pm
becjarrettdalton
aloenyx
aloenyx
4 February 2017

Interest Only payments during construction: Why?

Interest Only payments during construction: Why?

I was recommended interest only during the building phase.. and made sense as I need every penny to pay rent and after build costs. Once my final construction payment is…

6
1822
aloenyx
Feb 04, 2017 7:50 pm
aloenyx
Christoshizz
Christoshizz
27 October 2016

Owner Building w/ NAB ::angry:: stat decs from parents etc

Owner Building w/ NAB ::angry:: stat decs from parents etc

Hey mate. If it was me I'd be firing your broker and go speak to another broker or another bank lender. Different banks have different financing policies. Vote with your…

1
1332
Christoshizz
Oct 27, 2016 12:00 am
Christoshizz
becjarrettdalton
becjarrettdalton
18 October 2016

Land Titiles and Construction Loan

Land Titiles and Construction Loan

Ok that's why they can't use it. Your sister would have to be shown to have clear benefit by being guarantor, for example residing in the home - and she brings with her…

3
1493
becjarrettdalton
Oct 18, 2016 11:02 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
19 August 2016

Home Improvement Loan

Home Improvement Loan

Great to hear - I bet you don't look back!

4
2030
becjarrettdalton
Aug 19, 2016 9:43 pm
becjarrettdalton
Drekko
Drekko
17 August 2016

Which home insurance company ( not contents ) ?

Which home insurance company ( not contents ) ?

stupid question I have used a couple of different "cost to rebuild your home" calculators and they have all given me way out of sync figures one was 11k Another was…

1
577
Drekko
Aug 17, 2016 10:18 am
Drekko
plc
plc
15 July 2016

Transfering of titles

Transfering of titles

No problems. Glad to be of service. Hopefully it works out for your friend. Cheers Tom

3
921
plc
Jul 15, 2016 12:00 am
new_senior_citizen
new_senior_citizen
10 July 2016

Refinancing with AMP Experience??

Refinancing with AMP Experience??

If its the ONLY lender that will help in your situation, accept it. If there are other OPTIONS with other lenders, STONGLY CONSIDER THEM. AMP is a stable Oz finance…

1
890
new_senior_citizen
Jul 10, 2016 10:03 am
plc
plc
9 July 2016

Home + Land loan - information

Home + Land loan - information
1, 2

Just to add to what Bec said, you mentioned that you were pre-approved? In that case if it is still valid and not expired, it may be an easier process with limited…

21
3026
plc
Jul 09, 2016 12:55 am

Dennis Family Homes

Dennis Family Homes

Wow Gemma, at least it got thru in the end. Usually it like baseball, 3 strikes (apps) and your out! Congratulations, you found a certified "joker broker" that Simonds…

7
2059
new_senior_citizen
Jul 07, 2016 5:07 pm

Buying land

Buying land
1, 2

Loan lending criteria is always a changing marketplace as different lenders position themselves for different niches. As such trying to secure finance for anything 3mths+…

24
4958
new_senior_citizen
Jul 07, 2016 5:04 pm

Bad Credit Home Loan Advice

Bad Credit Home Loan Advice

No, not a spammer, and I will be able to "finish this story" on the 11/12 July. Stay tuned. David Fantastic !! Always talk to a few finance brokers,…

5
1434
new_senior_citizen
Jul 07, 2016 4:52 pm

End of financial year

End of financial year

+1 Bec, pre-approvals are a nice feeling to have, but the actual assessment is made when ALL final documents are available (including the builders contract). I remember…

3
1186
new_senior_citizen
Jul 06, 2016 3:49 pm
aussieta
aussieta
21 May 2016

Title Insurance and Caveat worth it?

Title Insurance and Caveat worth it?

dont worry about the caveat basically means nobody can sell the land without your approval the finance company will have lodged their own caveat until you pay the loan…

11
3196
aussieta
May 21, 2016 12:07 pm
aussieta
plc
plc
11 May 2016

Deposit/loan advice

Deposit/loan advice

When the bank does the valuation, they will take into account the land and construction as one for LVR purposes. As the OP already has equity in the land (and assuming it…

5
2232
plc
May 11, 2016 1:21 am
aloenyx
aloenyx
18 March 2016

Recommend a good broker in melbourne

Recommend a good broker in melbourne

Your probably sorted already, but my broker has been fantastic. She's got an office on Stud Road, in one of the shopping centers. Happy to give you her details, send me a PM :)

3
1418
aloenyx
Mar 18, 2016 8:08 pm
aloenyx
naritas
naritas
29 February 2016

Confirmation on loan amount

Confirmation on loan amount

Hi OP, Just thought I'd chime in given you're asking about wanting to borrow more money than your broker had told you was feasible. You may be right in thinking some…

7
1634
naritas
Feb 29, 2016 9:40 pm
naritas
plc
plc
8 February 2016

Changing Lender from Land Loan to construction loan

Changing Lender from Land Loan to construction loan

Obviously some people don't read the rules prior to joining this forum. You included. Your first post and it's a blatant self servicing advertisement. Not even a hint of…

16
1853
plc
Feb 08, 2016 7:31 pm
building-expert
building-expert
10 January 2016

Provision Cost

Provision Cost

On the face of it no because your bank is lending you for the building contract and they will be advancing against payments to the builder not to you. Another issue is…

2
1042
building-expert
Jan 10, 2016 1:05 pm
building-expert
plc
plc
21 November 2015

HELP!!!! HOME LOAN QUESTION.

HELP!!!! HOME LOAN QUESTION.

McKenz, As Bec alluded to, 5% is a minimum nowadays (plus extra to cover stamps and excess of LMI over the allowable cap). You being a FHB also allows you to claim a…

3
1435
plc
Nov 20, 2015 11:37 pm
kew23
kew23
6 November 2015

Land Valuation

Land Valuation

Hi I'm new to the forum and i was just wondering is there anyone who has bought land in Mandalay Beveridge. Has anyone had any problems with getting their land Valued.

0
1029
kew23
Nov 06, 2015 4:16 pm
New_Robinhood
New_Robinhood
6 November 2015

Home Loan Help

Home Loan Help

thanks

12
2056
New_Robinhood
Nov 06, 2015 11:43 am
alymei
alymei
29 October 2015

FHOG and Home loan

FHOG and Home loan

We are both from NZ and its not been a problem. We also got FHOG, although we had owned a property in NZ, but we had to pay stampduty. Our NZ passports were lodged with…

13
1741
alymei
Oct 29, 2015 5:44 pm
aloenyx
aloenyx
26 September 2015

first home buyer very confused about finance on home and lan

first home buyer very confused about finance on home and lan

I did the same as yourself, put a $1,000 down on a piece of land in July 2014 expecting titles in April 2015. I had preapproval, once I paid the $1,000 my broker applied…

3
1198
aloenyx
Sep 26, 2015 9:16 pm
aloenyx
plc
plc
4 September 2015

Low valuation problem for construction loan

Low valuation problem for construction loan

Also 1 thing I dont understand about the bank why would they touch the credit file before the valuation and go ahead and put mark in the credit…

7
1737
plc
Sep 04, 2015 2:21 am
Holly_wood81
Holly_wood81
4 August 2015

Home Loan Approval Time for 97% LVR

Home Loan Approval Time for 97% LVR
1, 2

refinancing the land and adding construction

32
2424
Holly_wood81
Aug 04, 2015 3:28 pm
sko24
sko24
28 July 2015

Home loan . Please advise

Home loan . Please advise

Land price 210K or 220K if its 220k minus 11k deposit will leave 209k plus LMI and other charges

11
1441
sko24
Jul 28, 2015 10:31 am
Ponzu
Ponzu
27 July 2015

Progress payments

Progress payments

they only re check after pre approval expires. Pre approval is only good for a period for a reason. Things can change. However, when you've drawn down your first payment,…

4
856
Ponzu
Jul 27, 2015 12:30 pm
jb_money
jb_money
24 July 2015

genuine savings question

genuine savings question

Hi mitchiib, Some lenders can be a bit tricky in the genuine savings space, especially rookie credit assessors so be sure to try and get it escalated if you are not…

5
1218
jb_money
Jul 24, 2015 8:18 am
becjarrettdalton
becjarrettdalton
23 July 2015

95% loan

95% loan

There is one lender who will do 95% plus cap the full mortgage insurance - as everyone has said the mortgage insurance won't be cheap but in a rising market saving extra…

6
1317
becjarrettdalton
Jul 23, 2015 10:47 am
becjarrettdalton
Linda01
Linda01
22 July 2015

Might be a silly question but…...

Might be a silly question but…...

Ahh thanks heaps for the replies :)

3
618
Linda01
Jul 22, 2015 12:20 pm
3
582
becjarrettdalton
Jul 07, 2015 7:12 pm
becjarrettdalton
plc
plc
26 June 2015

Can I use land as a deposit for a construction loan?

Can I use land as a deposit for a construction loan?

Yes, as others have said, you can use the equity in the land going forward on the construction loan. Note that there will be stamp duty to pay on market value even…

5
1067
plc
Jun 26, 2015 2:54 am
becjarrettdalton
becjarrettdalton
17 June 2015

AFG Home Loans?

AFG Home Loans?

At the end of the day when I am offering some lesser known lenders I say this: You're borrowing from them - so you have their money, not the other way around - if they…

4
723
becjarrettdalton
Jun 17, 2015 1:12 pm
becjarrettdalton
leighton
leighton
13 June 2015

Valuation lower - what to do?

Valuation lower - what to do?

Quite a lot of builders charge a significant amount for site costs (these are not costs but charges) to make up for what is essentially a low base price. Just the way they…

18
2759
leighton
Jun 13, 2015 5:58 am
leighton
Cherie4444
Cherie4444
17 May 2015

finance and insurance issues

finance and insurance issues

I have terminated my builder now I need some advice on where to find builders that are willing to complete a half built house? Also can anyone explain the insurance and…

0
571
Cherie4444
May 17, 2015 9:10 am
Shambini
Shambini
8 May 2015

Understanding the KDR finance process

Understanding the KDR finance process

We also allowed a dollar amount in our contract for selection upgrades. We tried to include as much detailed pricing in the contract as possible. The builder had us do…

19
1891
Shambini
May 08, 2015 6:39 am
Shambini
annielee
annielee
30 April 2015

Applying credit card while waiting for loan

Applying credit card while waiting for loan

thanks for all the reply... the reason i wanted a credit card is to get point for QFF with some purchases that i might be buying before the house/land is ready.. im…

3
1114
annielee
Apr 30, 2015 11:00 am
becjarrettdalton
becjarrettdalton
17 April 2015

Land valuation confusion

Land valuation confusion

Thats ok - if you have any dramas let us know!

9
1660
becjarrettdalton
Apr 17, 2015 3:20 pm
becjarrettdalton
jb_money
jb_money
15 April 2015

Construction loan confusion

Construction loan confusion

Hi Psyherin: I suggest we look at St. George Bank. The reason is St. George Bank could possibly get a valuation for your before the construction is finished. You…

8
2280
jb_money
Apr 15, 2015 10:23 pm
plc
plc
10 April 2015

Mortgage Broker

Mortgage Broker

Thanks Bec for the recommendation. Yes, Werribee is in my zone of service, so the OP can contact me if they want. Cheers Tom

2
725
plc
Apr 10, 2015 12:44 am
questionable
questionable
17 March 2015

Building a new home while also having a mortgage

Building a new home while also having a mortgage

Forgot to add that we have everything sorted with a builder so they're ready to build as soon as we say so. We don't have as high figures as you but pretty much the same…

7
1320
questionable
Mar 17, 2015 12:57 pm
becjarrettdalton
becjarrettdalton
11 March 2015

Question about home loan and untitled land

Question about home loan and untitled land

your solicitor will want you to have an approval by that date or rescind the contract - or explain the repercussions in regards your deposit of you don't get finance in…

3
980
becjarrettdalton
Mar 11, 2015 9:44 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
17 December 2014

Progress Payments

Progress Payments

Yep, exactly, if they're satisfied the work is done - and yes your repayments creep up a little with each progress payment - you should be paying interest only on the plan…

4
1072
becjarrettdalton
Dec 17, 2014 10:01 am
becjarrettdalton
jb_money
jb_money
8 December 2014

Having one Loan for Land and House

Having one Loan for Land and House

Hi There, You can do a land loan first with most lenders with a 5% deposit depending on valuation and then do another one just for the build. In total it can work out to…

3
1474
jb_money
Dec 08, 2014 2:37 pm
becjarrettdalton
becjarrettdalton
3 December 2014

In a bit of a dilemma...

In a bit of a dilemma...

Oh no, the point is if it's not needed the builder varies it back out - it's a simple fix and often done. Not a cent more is spent than needs to. Happy to explain to…

19
1976
becjarrettdalton
Dec 03, 2014 7:49 pm
becjarrettdalton

You are here
Building ForumBuy, Sell, Rent & MoveHome Finance
Featured Professional

If you are looking to purchase or build a home including owner building or an investment property, and need local advice on loan requirements or require an obligation free consultation, contact Home Finance Centres today.

Hobart TAS
Contact Us
Related Professionals
Browsing this forum

No registered users and 3 guests

You are here
Building ForumBuy, Sell, Rent & MoveHome Finance
Homeone Australian & New Zealand

Australia's largest home building and renovation
community with over 1.7 million posts

Home
Pros
Forum
Start a new topic
About
Join Community
Advertise
Contact Homeone
All comments made express the views and opinions of the author and not the Administrators, Support nor Homeone Australia & New Zealand
© Homeone Australia & New Zealand All Rights Reserved ‎2001 - 2019
Australia's largest home building and
renovation community
Homeone
About

Terms
Privacy

Follow homeone on FacebookFollow homeone on Twitter
All comments made express the views and opinions of the author and not the Administrators, Support nor Homeone Australia & New Zealand
© Homeone Australia & New Zealand All Rights Reserved ‎2001 - 2019