Browse Forums Building A New House 1 Jan 04, 2011 2:49 pm Hi there, In the first step of building my dream home which I'm trying to pick a suitable home loan package I hope to get everyone's experiances and ideas... I was advised by many people to avoid home loans by major banks and settle for the home loans by other finantial loan provoders... anyone reckon its pros and cons pls.... Re: Home loan providers.. 2Jan 04, 2011 3:13 pm ours is via a major bank and the interst rate is comparable with the cheapest. Take some time to think about what you actually want your home loan to do. Where the big banks make their profit is in the extra fees and charges for things like having a credit card associated with the home loan, offset account and redraw fees. We went with a very simple homeloan that allows redraws if we need at a cost. We feel that we are unlikely to use this outside of an emergency so the cost of a redraw doesnt bother us. Also I was also able to get a discounted rate through my work. So shop around, speak to a few good brokers - dont be afraid to pay for good financial advise rather than a broker who is going to push their highest commission products on to you without taking your interestes into consideration. I have been looking into getting quotes for a reno I am doing shortly. I have been looking at Trend and Wideline for both windows and doors. I did enquire with Vista but… 0 6149 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 19068 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 35305 |