Browse Forums Home Finance 1 Dec 08, 2009 9:16 pm Our builder has asked our bank whether we are we are eligible for the first home owners grant and what available funds we have for construction. I understand the builder needs to know you have funds to cover the build, however, why do they need to know if we are eligible first home owners. Wouldn't the available funds be contract price? Is this standard info for them to request and if so, what is it used for. Re: Builder requesting info from our Bank 2Dec 09, 2009 11:57 am Hello, Depending on who you are building through they may have a deposit system for first home buyers that involves instead of you paying the deposit. The builders will cover the upfront costs (engineers costs, council etc) out of their own pocket. KNOWING that these funds can be dispersed back to them directly once Fhog is released (usually after slab). In the event that you are not eligible for Fhog. Then the builders may need to make arrangements with yourselves for the upfront deposits to be paid. Or factor this into their schedule of payments. It would be best to contact your building company and ask them why they are seeking this information. Depending on their response it will either be clear why they are asking for this. Or unclear, in this case you can come back to us and let us know what they have said so we can help decipher the info . Regards, Trent Davidson Property Finance Consultant Residential Lending LJ Hooker Finance Brisbane North Credit Representative Number: 387283 under Australian Credit Licence:380270 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11893 "Losers" "humanity" "off time" "your" "top notch" "love symbol" Sounds like ponzo is done using other people's toilets 36 23834 |