Browse Forums Home Finance Re: Loan for things outside builders contract 42Oct 08, 2012 4:31 pm Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au Re: Loan for things outside builders contract 46Sep 26, 2013 11:58 am Hi all, Not sure if anyone is still looking for information on this but we have recently met with our current bank, ANZ, and we have been told that when building a new home (construction loan) if we have a 5% deposit (for customers who have held a loan or credit card with them for more than 6 months) or 10% deposit for new customers, that providing quotes are provided with Building Contract at the time of applying for the finance that they will lend you an additional 10% of the building contract price to spend on additional items for the home - these things included (but not limited to) blinds, flooring, landscaping, fencing, pools, etc. An example of this - Building Contract = $280,000. 10% Deposit = $28,000 or for existing customers 5% deposit = $14,000 Funds available for additional quotes = $28,000 We have found that this is more than enough to cover some additional things when putting all of our savings into the deposit! 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 13494 i wouldn't be worried, you'll definitely miss something, no matter how many times you review. we've spent close to 5 months ensuring everything got reflected in the… 5 9441 You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 12007 |