Browse Forums Home Finance Re: do you need a deposit for a building loan? 2Oct 19, 2010 5:05 pm contract signed: Nov 09 Released to Construction: 23 Jul 10 Slab poured: 9 Aug 10 Frame completed: 30 Aug 10 Windows & Gutters: 7 Sep 10 Bricks: 15 - 23 Sep 10 Roof: 24 Sep 10 Gyprock: 20 Oct 10 Lockup: 25 Oct 10 Kitchen: 27 Oct 10 Tiling: 6 - 9 Nov 10 Painting: 17 Nov 10 Carpet: 30 Nov 10 PCI: 15 Dec 10 Handover: 17 Dec 10 https://forum.homeone.com.au/viewtopic.php?f=31&t=35943 Re: do you need a deposit for a building loan? 4Oct 19, 2010 5:53 pm Dear J.K. Rowling, Your books are entirely unrealistic. I mean, a ginger kid with two friends? Sincerely, Anonymous Re: do you need a deposit for a building loan? 6Oct 19, 2010 6:01 pm Dear J.K. Rowling, Your books are entirely unrealistic. I mean, a ginger kid with two friends? Sincerely, Anonymous Re: do you need a deposit for a building loan? 7Oct 19, 2010 6:40 pm viewtopic.php?f=31&t=37229 - our Iris 4! Re: do you need a deposit for a building loan? 13Jan 12, 2011 3:37 pm View our blog at: http://room4acubby.blogspot.com/ Re: do you need a deposit for a building loan? 16Jan 25, 2011 3:36 pm S&M hi people just wondering if you need a deposit when applying for a building loan or do they use the fhog. Reason im asking is that my bank has asked me to show savings of 5% of the total building cost didnt explain much more but they didnt say they wanted it BUT banks in my eyes a shifty and will do anything to get money up front anyone can help? they just want to see you have 5% genuine saving. to make sure you have a good habit of saving so you can meet the mortgage repayment for the next 10-15 years. FOHG , GIFT, Tax return and unexplained lump sum are not considered genuine saving. Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au 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 18897 In NSW the maximum deposit for building work is 5% until the builder provides HBCF insurance 1 4814 Looking to start the journey of becoming an owner builder in SA. Feeling pretty (overly) confident on the building and construction details, but really struggling to find… 0 8397 |