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Last Post
michae
michae
19 October 2017

Second Mortgage

Second Mortgage

Hi Many mortgage lenders are reducing the availability of second mortgage programs as the secondary…

1
707
michae
Oct 19, 2017 10:50 pm
michae
michae
michae
19 October 2017

First home - How much do I need to save?

First home - How much do I need to save?

Great Job! you are one step ahead for people…

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5270
michae
Oct 19, 2017 10:27 pm
michae
Slugcatcher
Slugcatcher
26 May 2017

Construction loans

Construction loans

Thanks for the answers.

3
913
Slugcatcher
May 26, 2017 10:32 am
plc
plc
16 May 2017

SPLIT LOANS

SPLIT LOANS

Unfortunately no lender out there will allow that. Basically anyone on title needs to be on the loan in some fashion, whether as borrower or guarantor. I don't know if…

1
600
plc
May 16, 2017 4:20 pm
becjarrettdalton
becjarrettdalton
18 January 2017

A tough one about the First Home Owner's Grant

A tough one about the First Home Owner's Grant

Nice work - go you! I think people lack the desire to take ownership and see something through to completion in some of these large organisations - or are hamstrung by…

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1519
becjarrettdalton
Jan 18, 2017 9:48 am
becjarrettdalton
becjarrettdalton
becjarrettdalton
8 January 2017

Construction Loan with Land Explanation

Construction Loan with Land Explanation

Hi Lucy, Usually it's interest only on both the land and the construction loan, but not impossible for it to have been set up differently so double check with your…

1
719
becjarrettdalton
Jan 08, 2017 8:30 pm
becjarrettdalton
Finalytics Financial
Finalytics Financial
12 November 2016

Equity and Loan Dilemma

Equity and Loan Dilemma

I have a client in a similar situation. We worked with them and their accountant and decided the best thing was to take the stamp duty hiyt and sell the property into a…

3
3379
Finalytics Financial
Nov 12, 2016 1:59 pm
deejay08
deejay08
17 February 2016

HIA CONTRACT

HIA CONTRACT

How far could they have gotten in to your build if the finance hadn't been secured? I'm guessing a site survey and plans/tender prep is about it? So depends on how much…

2
1004
deejay08
Feb 17, 2016 6:49 pm
cloudy
cloudy
14 December 2015

Building home on parent's vacant block - tenants in common

Building home on parent's vacant block - tenants in common

Background: - My father owns three blocks of land which makes up his farm in WA. One he is living on, the second has sheds and house (I live and rent in) and the third is…

0
512
cloudy
Dec 14, 2015 12:44 am
Barb2build2016
Barb2build2016
24 October 2015

Paying mortgage whilst building

Paying mortgage whilst building

Hi, Just wondering if anyone knows how I can get my mortgage, or if I have to move, my rent paid whilst I build? I'm either looking to buy a small property and build at…

0
811
Barb2build2016
Oct 24, 2015 5:08 pm
Nic and Shell 1
Nic and Shell 1
24 October 2015

Urgent bankwest construction loan q

Urgent bankwest construction loan q

Sorry for the late reply, you might have better luck with them, we had issues but I was pleased with the customer service they always answered emails relatively quick. And…

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1775
Nic and Shell 1
Oct 24, 2015 1:15 pm
travelbug
travelbug
14 October 2015

Substitution of Security

Substitution of Security

Yes I've done that. Speak to the bank ASAP so you have all the paperwork in place for settlement.

2
563
travelbug
Oct 14, 2015 5:46 pm
SaberX
SaberX
6 September 2015

Construction Loan Questions

Construction Loan Questions

If you hurryy things along with your builder is your apply with Westpac they're still doing their extended 85% lvr no lmi deal by 5 Oct. You have to settle by 31 Dec…

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1076
SaberX
Sep 06, 2015 2:34 pm
plc
plc
16 June 2015

how much extra to have on top of deposit?

how much extra to have on top of deposit?

As Rebecca said, minimum is 5% for deposit plus approx. 5% for closing costs. The issue will arise if valuation comes back short, then you will have to find more funds…

8
1447
plc
Jun 17, 2015 12:08 am
plc
plc
3 June 2015

Loan Qs

Loan Qs

Hi Winderic, Unfortunately you have committed the worst sin for investing. As you mentioned by paying extra into your current property, you have effectively missed out on…

1
574
plc
Jun 03, 2015 3:03 am
plc
plc
28 May 2015

Finance Rate

Finance Rate

Average rate is presently 4.3X% or around there - depending on loan amount and % borrowed, but, there are great offers well under this…

10
1370
plc
May 28, 2015 1:38 pm
becjarrettdalton
becjarrettdalton
19 February 2015

Finance decline and getting our deposit back

Finance decline and getting our deposit back

Agree with Tom, and you sound like you could be approaching the sunset clause date - also get a second opinion on the finance, you may have other options. Not all lenders…

2
971
becjarrettdalton
Feb 19, 2015 2:29 pm
becjarrettdalton
becjarrettdalton
becjarrettdalton
23 November 2014

Where to start for a two newbies!

Where to start for a two newbies!

HI, How far away is your build contract? What state are you building in? And what do you need to borrow as a percentage of the total cost, for example are you borrowing 80%?

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2796
becjarrettdalton
Nov 23, 2014 1:01 pm
becjarrettdalton
5
1053
becjarrettdalton
Nov 10, 2014 10:52 pm
becjarrettdalton
archetto
archetto
3 September 2014

WA - FHOG & Stamp Duty refunds

WA - FHOG & Stamp Duty refunds

Found out we can apply for it now that we have a signed building contract but it doesn't get paid until the slab has been laid. When we get a letter in the mail that our…

2
748
archetto
Sep 03, 2014 4:43 pm
archetto
Cranzy
Cranzy
26 August 2014

Land first then construction - confusing calculation.

Land first then construction - confusing calculation.

The only variable will depend on your total "as if complete" valuation come construction time. So if you can retain the 20% equity in the land,…

6
1396
Cranzy
Aug 26, 2014 1:00 pm
Cranzy
archetto
archetto
27 March 2014

Land loan & construction loan question

Land loan & construction loan question

Because our construction loan is going to be quite high so we want to just have the one loan rather than combine 2 and be paying off more, we will still have cash to…

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1816
archetto
Mar 27, 2014 1:46 pm
archetto
tsmith
tsmith
5 March 2014

Should you use a builders broker?

Should you use a builders broker?

i do realise about commissions, kinda crazy they get money for each year of the loan... oh well i will do some research

7
819
tsmith
Mar 05, 2014 11:20 pm
EmyN
EmyN
6 February 2014

Land release day

Land release day

Hehe sorry I had no practical advice or experience to share. Just made me think of the land runs of the wild west! Hopefully will be a bit more civilised for yourself hahaha.

3
867
EmyN
Feb 06, 2014 11:40 am
EmyN
natlyn
natlyn
3 February 2014

Changing Job during home loan application

Changing Job during home loan application

Thanks for the responses. He has been in the IT industry for 10 years just working for different companies. He will now be working within IT still (same sort of position)…

5
1986
natlyn
Feb 03, 2014 4:06 pm
natlyn
Salsaby
Salsaby
20 January 2014

Conditional to Formal Approval - Keystart

Conditional to Formal Approval - Keystart

Unfortunately we lost our block today to another buyer so we are back to square one.... just days from getting formal finance. All valuations checks etc had been done…

4
2563
Salsaby
Jan 20, 2014 4:16 pm
Salsaby
xueprojects
xueprojects
4 January 2014

Are we dreaming?

Are we dreaming?

I use to work for RAMS as a lender, this was several years back. Their rates back then are a bit higher compared with some of the more competitive lenders. If you shop…

20
3182
xueprojects
Jan 04, 2014 3:04 pm
Niccles
Niccles
30 November 2013

First home buyers in here

First home buyers in here

We are 22 & 25 and both first home buyers/builders. The block is 650 sqm and the house will be 2 story (due to the views available), got to buy…

5
1066
Niccles
Nov 30, 2013 5:21 pm
robbie55
robbie55
19 November 2013

Finance with a FIFO partner

Finance with a FIFO partner

You can get most of the finance sorted wihtout him being around - if you use a broker or apply for a loan online you normally just have to supply a photocopy of ID signed…

1
1187
robbie55
Nov 19, 2013 4:25 pm
robbie55
snuck
snuck
25 September 2013

WA First Home Owners Grant - Effective 25/09/2013

WA First Home Owners Grant - Effective 25/09/2013

I was just coming to say "Commbank says this is GO" but your link is better!

9
1166
snuck
Sep 25, 2013 3:24 pm
snuck
jb_money
jb_money
2 September 2013

Land then construction loan VS LAND/CONSTRUCTION Loan

Land then construction loan VS LAND/CONSTRUCTION Loan

It really depends on your situation as to which is the best choice. If you do not have plans / council approval / building contract etc then you pretty much have no…

2
1092
jb_money
Sep 02, 2013 12:18 pm
laura250blue
laura250blue
7 August 2013

Help! Will this effect my home loan

Help! Will this effect my home loan

Haha, I will give you that one. It did make me flare up and call Westpac straight away! So I guess I should thank you. ;)

7
953
laura250blue
Aug 07, 2013 1:52 pm
Di Nosaur
Di Nosaur
27 July 2013

Waiving finance clause on land contract

Waiving finance clause on land contract

Wow, where are you? My land ppl just took $1000 and wanted finance within 28 days of title.

6
1752
Di Nosaur
Jul 27, 2013 2:47 am
plc
plc
17 June 2013

When does the deposit become due ?

When does the deposit become due ?

Depending on what your deposit is and LVR, you might have to fork out at both stages. When you buy land, you will need a deposit when buying that and then a loan for the…

1
783
plc
Jun 17, 2013 5:51 pm
jcbissor
jcbissor
24 May 2013

just starting out - Need help to understand the process

just starting out - Need help to understand the process

Posting to follow your thread.. We're about to sign with Goodlife on Sunday. Our block deposit happens on Monday. Which goodlife design are you building?

18
2050
jcbissor
May 25, 2013 12:20 am
jcbissor
jcbissor
jcbissor
20 May 2013

Build Finance WA

Build Finance WA

Hi, has anyone gone through Build Finance in WA for their homeloan? Really keen to hear from anyone who has! Sarah

0
483
jcbissor
May 20, 2013 7:23 pm
jcbissor
Scotty Dog
Scotty Dog
16 May 2013

Seperate loans for land and construction?

Seperate loans for land and construction?

We are building our house with 2 x loans, a separate one for the land and a construction one for the house. This is because we originally bought the land with a house on…

4
1403
Scotty Dog
May 16, 2013 3:02 pm
plc
plc
3 May 2013

FHOG Application for house+land pkg

FHOG Application for house+land pkg

I would tend to agree with you as off the plan generally means the finances settle on the date you move in, and new home suggests it has already been built. However just…

2
803
plc
May 03, 2013 3:50 pm
Shahin A
Shahin A
2 May 2013

Suncorp

Suncorp

Suncorp are great - their biggest problem is their borrowing capacity. They have one of the most conservative servicings.

2
1171
Shahin A
May 03, 2013 12:06 am
fmac
fmac
30 April 2013

savings and offset

savings and offset

And at the moment with the ing everyday account you get 5% back on all purchases under $100 made with pay wave (have saved over $100 in the last few months!) The offset…

9
1308
fmac
Apr 30, 2013 5:11 pm
5ully
5ully
12 April 2013

Byford consider metro or Reginal with Keystart

Byford consider metro or Reginal with Keystart

Hey all, I am new to house building or even buying a house and have decided to go through Keystart. I have been advised that Byford is consider Regional for Keystart…

0
502
5ully
Apr 12, 2013 7:26 pm
plc
plc
19 March 2013

Am I likely to be approved for a home loan?

Am I likely to be approved for a home loan?

Hi death2thepixies, Lenders nowadays work to their own serviceability calculations, the 30% rule of thumb is more from a personal point of view, and is there because just…

1
1027
plc
Mar 19, 2013 3:49 pm
Homebody99
Homebody99
16 March 2013

No Deposit Home Loans

No Deposit Home Loans

If you have low personal debt & high income then you could go borrow $20k. put it in the bank & add to it as much as you can over next 3 months - this shows 3 months…

4
1712
Homebody99
Mar 16, 2013 5:45 pm
kassan1973
kassan1973
9 March 2013

Capital Gains Tax

Capital Gains Tax

So long as you live in the house and it is your primary residence there will be no CGT.

6
1420
kassan1973
Mar 09, 2013 7:20 pm
plc
plc
20 February 2013

Has anyone every had this home loan application experience?

Has anyone every had this home loan application experience?

Hi Sandy, What I notice a lot of times is the lender will go through the applicants credit history and if they see they have applied for any recent credit, i.e. credit…

1
809
plc
Feb 20, 2013 11:24 pm
StepMamma
StepMamma
6 February 2013

Settlement Debarcle - Need advice please

Settlement Debarcle - Need advice please

Hi, dragonchild and plc. Thanks for your replies. Much to our relief westpac have lifted the caveat and settlement is booked for tomorrow. We have settlement agents…

3
798
StepMamma
Feb 06, 2013 10:15 pm
plc
plc
24 January 2013

Have i screwed up?

Have i screwed up?

Nah. I had the same thing with an ANZ account, where I took all the money out and forgot about it, and they charged the $5 service fee and…

4
1045
plc
Jan 24, 2013 12:32 am
mynameisjonas
mynameisjonas
5 December 2012

Keystart new loan limit $450k 2% dep

Keystart new loan limit $450k 2% dep

But that argument doesnt make sense.. because for the majority of families these days, if something happens in their life whether they paid a…

19
3348
mynameisjonas
Dec 05, 2012 6:02 pm

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