Browse Forums Home Finance 1 Jan 18, 2021 1:36 pm Hi All, Newbie here. Me and my partner are interested in a H&L Package offered by a particular builder. It is currently advertised for $1.3 million on the builder's website. We project that we should have 20% deposit by the end of the year, but just wanting to do some research ahead before committing. What is usually the process in terms of getting a loan for the H&L Package? Should we consult with one of the Big 4 Banks? Or with enough research, simply apply from an online loan such as uBank? Re: Loan for H&L Package - Where to start? 2Jan 20, 2021 9:56 pm I’m not sure UBank will do construction? The one thing you won’t know is what criteria each lender has behind the scenes, for example minimum employment types, or how much they would consider you for vs someone else. They each have their niches where they do well - and not so well. Ask your friends and family to recommend a good broker who can give you access to other lenders you may never trip over yourselves and who may just be perfect for you. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Loan for H&L Package - Where to start? 3Jan 21, 2021 12:09 pm When you say H&L package, is it two separate contracts for land and construction, or is it one contract which settles after completion of everything? As they are treated differently in terms of a loan scenario. Cheers, Tom I'm based in Adelaide and I'm considering purchasing a house and land package from Weeks Homes. I found a deal that looks good, but there's a complication: the land isn't… 0 11308 Hi everyone, I'm very new to the housing market and would appreciate any guidance. I have found what I think is a good land and home package. Marketed as "turnkey".… 0 8458 4 11728 |