Browse Forums Building A New House Re: Building the Sahara Q1 by Henley - Our Blog 62May 22, 2012 9:34 pm yeah man good luck we had a call from our lending manager, valuation done and all good, looks like we "should" have unconditional approval within a few days but, henley called, our developer approval was ejected , they claimed "someone else close by has same facade , jesus... so we have changed a few things with our facade, hopefully not any more delays Re: Building the Sahara Q1 by Henley - Our Blog 64May 24, 2012 12:05 am Contracts to be signed in June. We are expected to pay 3% of the build cost + drawings fee. Comes to over $9,000. Paid over $12,000 to the land developer last week. It's been a crazy but productive month. Can I ask you guys a question? We were speaking with our broker (Waterstones) last week and she mentioned something about conditional and unconditional loan applications. Does anyone understand what this is?? She was saying one of it is not advisable for anybody to embark on. Does anyone know what she was trying to say?? Thanks Re: Building the Sahara Q1 by Henley - Our Blog 65May 24, 2012 8:38 am Hi, the total at contracts should be TOTAL 3%, no drawing fee??? conditional and unconditional.... basically when the bank approves your loan the first stage is "approval in principle" or "pre approval". basically means if everything you are telling them checks out their shouldnt be too much problem. Then comes "conditional approval". They generally grant this based on receiving your application, proof of income, employment, loan amount etc....The conditions generally at this point relate to land and build VALUATION. The bank will not grant "unconditional" approval, until you have signed contracts, build amount etc....then they to a valuation on the build etc, only after this does your loan become "unconditional". when you sign your building contracts make sure it is signed "subject to finance" 30 days. The builder will then forward the documents to your bank, the bank will then value the property and as long as everything is in order, will then grant "unconditional" approval. Re: Building the Sahara Q1 by Henley - Our Blog 66May 24, 2012 11:08 am tengals Hi, the total at contracts should be TOTAL 3%, no drawing fee??? conditional and unconditional.... basically when the bank approves your loan the first stage is "approval in principle" or "pre approval". basically means if everything you are telling them checks out their shouldnt be too much problem. Then comes "conditional approval". They generally grant this based on receiving your application, proof of income, employment, loan amount etc....The conditions generally at this point relate to land and build VALUATION. The bank will not grant "unconditional" approval, until you have signed contracts, build amount etc....then they to a valuation on the build etc, only after this does your loan become "unconditional". when you sign your building contracts make sure it is signed "subject to finance" 30 days. The builder will then forward the documents to your bank, the bank will then value the property and as long as everything is in order, will then grant "unconditional" approval. Tengals, I think I remember during our last meeting with the lady at Waterstones that we can't sign a 30-day "subject to finance" build contract due to our circumstances. The broker advised that we apply for finance at November (as my wife just had a baby and will be returning to work in July). So we will be signing the contract without it being subject to finance. Big risk I know. But that the situation we are in. Re: Building the Sahara Q1 by Henley - Our Blog 68May 24, 2012 12:32 pm tengals oh ok, it's ok, but just be very sure that your bank is good to go regarding the loan, otherwise money down the drain if you cannot raise the cash for the build. yeah, you are right. She did a provisional application and it came out positive. She's also done a Veda credit check and we're both green and she said these are good signs. We won't get FHOG if we don't sign after seeing tender. We haven't done colour appt either. We are hopeful all will be well. I'm working like a clock to make the amount needed for end of June. I hope in the end we'll be rewarded for being audacious. Does any one have any contacts for a landscaper and someone who can do an A-class job professionally setting up my theatre after settlement? Thanks Re: Building the Sahara Q1 by Henley - Our Blog 72May 25, 2012 1:17 am tengals Finance Approved today! just developer and permits now..... Congratulations! That is the greatest news about any build project. It's only a matter of time now. I'm very happy for you Re: Building the Sahara Q1 by Henley - Our Blog 74May 25, 2012 10:16 am Hi All We are also decided to build with Henley , we are building Monaco Q1 , Clendon Vale series , we made the initial Deposit of 1500/= on Wednesday 23/05/12 as we are eligible for FHBG Henly is going to fast Track our application , we got the initial Visits to the Cosham tomorrow .. very excited and worried at the same time case because of the FHBG , after I read your posts it looks like Henley is taking long time to do the documents , can any of you advise roughly how long they taking to comes to the Tender stage ? Re: Building the Sahara Q1 by Henley - Our Blog 75May 25, 2012 2:33 pm RoNe2012 Hi All We are also decided to build with Henley , we are building Monaco Q1 , Clendon Vale series , we made the initial Deposit of 1500/= on Wednesday 23/05/12 as we are eligible for FHBG Henly is going to fast Track our application , we got the initial Visits to the Cosham tomorrow .. very excited and worried at the same time case because of the FHBG , after I read your posts it looks like Henley is taking long time to do the documents , can any of you advise roughly how long they taking to comes to the Tender stage ? Ours was 2 wks from our Colour Appt to Tender & 3 weeks from Tender to Contract signing Re: Building the Sahara Q1 by Henley - Our Blog 77May 26, 2012 1:05 pm namweng Ours was 3 weeks from the colour appointment to the tender stage. They are flat out during this period due to the FHOG We have received an official contact and email from Henley. Our colour appt is 2 weeks apart from our contract signing. The way it was set up for us, we will be getting the tender on the same day as contract signing. We really aren't doing much structural variations. I really do hope our build team will be as good as we have had so far. Exciting times! Re: Building the Sahara Q1 by Henley - Our Blog 79May 28, 2012 11:02 am did any of you do lighting with Henley ? if so how much a LED down light will cost ? our Sales guy told us its about $110 per piece , but when i ask the question at the Cosham info session the rep there said they don't know the cost until the tender stage .. do any of you done Lighting outside and if they are good please let us know Hi, If you give a set of criteria as to what means 'good' to you, it'll give others prompts to respond. We considered Henley early on but there were two factors that… 1 12986 You have mandatory building inspections and privately engaged building inspections. The difference between the two comes down to inspecting the building so it's safe and… 3 18870 If level one compaction/certified, this is generally can be found on as it has been compacted as per Australian Standards. The soil report should state the certificate of… 7 3668 |