Browse Forums Home Finance home loan lenders for construction loans, sydney 22Jan 16, 2009 9:39 pm cococrunch what about commonwealth? CBA is in the poll above. Re: Which Lender for Construction Loan? 23Jan 16, 2009 9:44 pm Our loan is in 2 parts...1 from CBA, 1 from Colonial...but aren't they the same thing???? Recommended to us by our broker for a " low doc. " loan.....hopeless getting organised and getting everything finalised, hopefully OK now, haven't had to draw down anything yet so time will tell. home loan lenders for construction loans, sydney 24Jan 16, 2009 9:48 pm yep, CBA and Colonial are the same lender, just different channels for serving customers.When you get your loan from an accredited mortgage broker, it's Colonial.
I hope the service you receive is identical, though. Re: Which Lender for Construction Loan? 25Jan 16, 2009 10:04 pm Our land loan is through Colonial as we got it through a friend who is a broker. Have had no troubles whatsoever with their service had a problem with the land title not being changed (problem on developers side) rang the bank to see why - had a phone call back within 30 mins and told they were onto it and 2 days later i recieved a call and a faxed copy of my cert of title from the bank. We are on the process of getting the contruction loan and all looks promising! 2nd build here we come in Whittlesea! https://forum.homeone.com.au/viewtopic.php?f=31&t=92617 1st Build - Henley - Cooper in Doreen! (2009) https://forum.homeone.com.au/viewtopic.php?f=31&t=17354 home loan lenders for construction loans, sydney 27Jan 16, 2009 10:12 pm Ok so far, CBA / Colonial is taking the lead with ANZ a close second.
I somehow thought there were more credit union and non bank customers here. home loan lenders for construction loans, sydney 28Jan 16, 2009 10:14 pm Cozmo Members Equity Bank - Sorry Thlo they don't pay commissions to brokers:P, but they have been great so far. that's fine Cozmo. It's not all about the money. ME used to have a broker channel called Maxis but they are not active any more. Re: home loan lenders for construction loans, sydney 30Jan 16, 2009 10:32 pm thlo yep, CBA and Colonial are the same lender, just different channels for serving customers.When you get your loan from an accredited mortgage broker, it's Colonial. I hope the service you receive is identical, though. Yes they are meant to be the same.. I use netbank, etc, etc.. but when I call up they say, oh you are a colonial customer you will have to talk to them. Then I talk to them.. oh that is a general enquiry you will have to talk to our general enquiry line... just get handballed backwards and forwards... So far for me, being a colonial customer has been a pain in the ***.. If I knew it was going to be like that, I wouldn't have used a broker. Not the brokers fault, stupid cba for having two seperate companies and treating their colonial customers like they don't exist! Re: home loan lenders for construction loans, sydney 31Jan 16, 2009 10:56 pm wakeboardandy Yes they are meant to be the same.. I use netbank, etc, etc.. but when I call up they say, oh you are a colonial customer you will have to talk to them. Then I talk to them.. oh that is a general enquiry you will have to talk to our general enquiry line... just get handballed backwards and forwards... So far for me, being a colonial customer has been a pain in the ***.. If I knew it was going to be like that, I wouldn't have used a broker. Not the brokers fault, stupid cba for having two seperate companies and treating their colonial customers like they don't exist! I arrange Colonial home loans for CBA staff, this never came up as an issue before. Re: Which Lender for Construction Loan? 32Jan 16, 2009 11:47 pm St George for us; I had been a member of Community First CU forever but they are basically a Sydney/central coast CU so when we relocated to Canberra we had to start again. We selected St George for the family pledge option although we never ended up using it, lol.
Our initial experience was horrific as stated elsewhere in this forum; a mobile lender with 'personal' problems. However, as a result of this, we had our loan reassigned to a branch lender who has done much to redeem their reputation with us. 'We make a living by what we get, but we make a life by what we give.' - Winston Churchill home loan lenders for construction loans, sydney 33Jan 16, 2009 11:56 pm billdsl we were with ANZ till we sold our last house, charged us 7k to pay out the loans. so theyve just lost a heck of a lot more than the 7k theyve just charged me to lose my business Was that because you had fixed your interest rate with them earlier? Re: Which Lender for Construction Loan? 35Jan 17, 2009 5:01 am Stgeorge here , but not for much longer now that scumpak have taken over . Have been looking into credit unions and building society's for a while now and have narrowed it down to either SCU / CUA or CFCU ... Re: Which Lender for Construction Loan? 37Jan 17, 2009 8:23 am We are with a credit union, Allianceone, relatively small credit union, services country SA in Pt Lincoln, Whyalla, Pt Augusta, Pt Pirie, Roxby Downs, Kadina.
We are very happy with our credit union and have been with them for many years, since transferring our previous mortgage from Bank SA when fees etc got out of hand and the branch moved from our locality. Competitive interest rates, free Bpay, direct debit etc, no account keeping or service fees on any of our accounts, (unless you go over allocated transactions per month, which we never do), re-draw on loan for only $15 a time (which we only ever did twice on old loan but good to have) , convenient branch at main shopping centre. Unlike some other banks we could also put extra on the principal during construction, I was surprised to learn some other banks wont let you do this. There is also no early pay out penalty so we can pay remaining mortgate off whenever we like, some of the 'cheap' lenders like Virgin charge heavy exit fees. Re: home loan lenders for construction loans, sydney 38Jan 17, 2009 11:12 am thlo wakeboardandy Yes they are meant to be the same.. I use netbank, etc, etc.. but when I call up they say, oh you are a colonial customer you will have to talk to them. Then I talk to them.. oh that is a general enquiry you will have to talk to our general enquiry line... just get handballed backwards and forwards... So far for me, being a colonial customer has been a pain in the ***.. If I knew it was going to be like that, I wouldn't have used a broker. Not the brokers fault, stupid cba for having two seperate companies and treating their colonial customers like they don't exist! I arrange Colonial home loans for CBA staff, this never came up as an issue before. Well it isn't just a one off. I have called them about 4 times and had the same thing happen. Only on the 4th time did I speak to a manager and all of a sudden he could fix the problem!! Re: home loan lenders for construction loans, sydney 39Jan 17, 2009 11:50 am wakeboardandy Well it isn't just a one off. I have called them about 4 times and had the same thing happen. Only on the 4th time did I speak to a manager and all of a sudden he could fix the problem!! It sounds like a CBA staff training issue, then. A few years ago I heard some publicity about this issue. The bank has been doing a lot to train staff. home loans for construction, sydney home loan centre 40Jan 17, 2009 1:20 pm ANZ and CBA still leading.
Where are all the customers of other lenders? 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 19112 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 35330 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11933 |