Browse Forums Home Finance Re: When do you pay your 20% of the building loan 3Dec 22, 2009 3:31 pm Metricon Riva 33 - http://herlihy-riva.blogspot.com Site start 15/03/2010 - Handover 23/12/2010 9 months and 8 days (284 calendar days) from site start to handover Re: When do you pay your 20% of the building loan 4Dec 22, 2009 3:34 pm Idiots are fun, that's why there is one in every village! - Dr. House - Re: When do you pay your 20% of the building loan 6Dec 22, 2009 6:37 pm Idiots are fun, that's why there is one in every village! - Dr. House - Re: When do you pay your 20% of the building loan 13Dec 28, 2009 11:45 pm Thanks everyone for your replies. I got an answer from my broker and have been told that i have actually paid for the 20% before the construction of the house started. The 20% is made up of the money that i have already paid to my builder which is 5% of our contact price, plus an extra $12k which we had to give to the bank and the rest will come from our first home owner grant Idiots are fun, that's why there is one in every village! - Dr. House - 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 19097 Hi Mofflepop, I would recommend finding a building designer to prepare plans, they should design to your specified budget. The benefit is you can tender the project out… 9 20417 Thanks mate. Yeah good points! Leaning towards Option 3 to get a bit extra space in the cabinets but not going too crazy high (and expensive). Would require a mini… 13 39718 |