Browse Forums Building A New House Re: Construction Loan Letter 15Mar 09, 2007 1:59 pm Hehe. We're building with PD as well (only a couple of weeks till handover...hoorah!). Not only did we have to have a specific letter from the bank saying how much the mortgage was but, because we we paying for part of the contruction ourselves over & above the deposit, we had to provide a bank statement proving we had the money available as well.
We didn't have any delays after that was provided, though. 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 The HIA contract, in the term & conditions section states that "Commencment" is deemed when the drainage is started or the piers are dug or the slab is formed up (incase… 2 6177 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35326 |