Hi all.
We have a spot in the govt 5% deposit scheme.
We have found land and looking for a build we like
I'm concerned that they will want to settle land before we have our build contract.
Anyone been through this before??
Thanks !!
Browse Forums Home Finance Re: Govt 5% deposit scheme 2Jan 03, 2021 6:15 pm My understanding is that the building contract needs to be entered into prior to settlement/funding for the land. At least that is the process with CBA. Not sure about other lenders. You must have received your spot via a particular lender. Contact them to see what their policy is in regards to this. Cheers, Tom In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4924 I'm renovating - building a small extension at the back of the late Edwardian house. This is the first stage. Second stage of the renovation will be to replace roof on… 0 1119 |