Browse Forums Home Finance 1 Jul 15, 2009 12:42 pm Hi, We have currently purchased a block of land for $142000 on this we have a loan for 90% of the amount through Bank West. Settlement on our land was approx 3 weeks ago. My question is With Banks restrictions tightening i am worried about our finance for the house as we have no savings and are hoping to use the FHOG as our deposit do banks still this do this? Will we have a higher chance of getting aproved as we already have a loan through them? I asked my mortgage broker but he wasnt much help he simply shrugged his shouldes and said we will see. So just wanting opinions from others I dont want to have come this far then nothing. Re: Finance for purchase of house 2Jul 15, 2009 1:13 pm Well.. Assuming that you get the $32,000 FHOG and that your house costs say $200,000? That's a 16% deposit! Shouldn't be too hard? Our house thread: https://forum.homeone.com.au/viewtopic.php?f=31&t=18335 Re: Finance for purchase of house 4Jul 15, 2009 2:35 pm Your 10% equity in the land IS GENUINE SAVINGS! Unfortunately, there are a lot of people (including credit assessor of a bank which had to be corrected by a mere mortgage broker) out there ignoring this rule. you were just referred to get advice from your solicitor. This is a legal matter. Separately, why would you use a buyers agent for a house and land package? 3 57478 You’re on the right track, wire brush in a grinder then a zinc rich epoxy primer then a top coat of some sort, like a waterproofing membrane. Raising the concrete would… 1 7032 How good is Simeon?! Always taking time to help others out! Wish we were building in NSW and could work together. Thanks for all that you do! 7 6571 |