Browse Forums Home Finance 1 Nov 28, 2014 11:11 am Is CUA not the preferred lender for mortgage brokers as I can't see them as a lender for most of the mortgage brokers or they have had bad experience with them so do not recommend them. Any one there who has existing or recently applied for CUA home loan and was the process complicated or straight-forward. Thanks. ....Mansawant Re: CUA construction loan 2Nov 28, 2014 3:34 pm Hi Mansawant, CUA only have agreements with one group of brokers, so most of us can't access them. They have some great rates - similar to other lenders we all have on panel - and some strange policies that make them a little restrictive at times, so that explains why brokers don't use them a lot. Bec Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: CUA construction loan 3Nov 30, 2014 1:51 pm We recently applied for the CUA Fresh Start loan, really good rate with no ongoing fees, can't complain! Applied directly (not through a broker) and it's all been really easy going. All approved and just sorting all the paperwork now. It's all been really easy to deal with, but reports I've seen on other forums seem to suggest that that's variable depending on who you're dealing with... so if it's not working for you then try going through the person in Perth Re: CUA construction loan 4Nov 30, 2014 6:41 pm I've got a good mate works for them in Sydney too - so if you're local and get stuck sing out! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: CUA construction loan 5Jan 14, 2015 6:28 pm My partner and I applied with CUA, with a combined income of 330k annually we were still not approved. No defaults to our names either. We asked why and they had told us it's because of FIFO that we were a 'risk' .. Was so upsetting to know my partner was working away a month at a time and home for 6 days to save for our family home to be told FIFO was a risk in case he didn't earn that money again. However now we are currently in the stage of almost moving into our brand new built home thanks to gateway credit union. CUA's loss ! Building our first home - viewtopic.php?f=31&t=75306 Re: CUA construction loan 6Jan 14, 2015 6:31 pm See Caraf88, It's stories like this that I hate - imagine if you didn't have enough nous to try again. Imagine if you walked away never believing you could do anything at all. Always try again! Glad you're loving your new home! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: CUA construction loan 7Jan 14, 2015 6:37 pm becjarrettdalton See Caraf88, It's stories like this that I hate - imagine if you didn't have enough nous to try again. Imagine if you walked away never believing you could do anything at all. Always try again! Glad you're loving your new home! We were very lucky we had a excellent mortgage broker who tried her hardest to find us the right bank. We even had put up a 20% deposit and were still knocked back by CUA. We did have a lot of spendings over time but 3 months of hard saving and we were told no. We were so shocked. Building our first home - viewtopic.php?f=31&t=75306 Re: CUA construction loan 8Jan 14, 2015 6:40 pm Glad to know you had a great broker and got there - that I LOVE to hear, it's why I love my job! FIFO is tough, you do it for a reason, shouldn't be the reason you aren't apprved. Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building 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 19114 Hi, you've probably already resolved this, however, Commbank will probably pay the funds to you after you send evidence the work is done regardless the change in the quotes. 1 35332 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 11934 |