Browse Forums General Discussion 1 Jan 12, 2018 7:13 pm Has anyone recently signed a contract with Carlisle Homes in Melbourne and got their loan approved from Bank ? Both ANZ and Suncorp banks have objected to Carlisle Homes charging upto 50% payment in fixing stage as per their new schedule which looks like Deposit 5% Base 15% Frame 30% ( this is where banks have objected to the schedule being heavily loaded in builders favor ) Lockup 19% Fixing 21% Completion 10% As per banks, as per HIA payment contract of 1995, a builder cannot charge its customers more than 30% till Framing stage; while Carlisle Homes new HIA contract demands 50% payment till framing. Since Carlisle Homes is a very popular and reputed builder in Melbourne, I want to know has any other clients recently run into this similar issue with their home loan approvals based on new Carlisle Homes HIA contract payment terms ? How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11917 The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 19097 regardless, your contract stipulates a payments schedule and SOPA doesn't give provision to that scenario. Your contractual terms appear to stand. Hence get a lawyer, it… 4 11869 |