Browse Forums Home Finance 1 Jul 09, 2015 12:34 pm Hi guys al First time poster but I'll make it short and sweet, just wondering if anyone can explain the $1500 deposit offer to me from Dennis Homes? I'll post link as reference http://www.dennisfamily.com.au/1500-down-offer Seems as though the loan is funded by first home owners grant and remainder is funded via personal loan. But from my understanding and research I've done that this is not possible? If someone could clear this up that would be great. Thanks! Re: Dennis Family Homes 2Jul 09, 2015 3:21 pm Hmmm that's interesting. It refers to Loan Market who are a broker so I wonder if it's a special loan arrangement - Macquarie Bank used to offer this. Most banks want a savings history from you. Let me know what you learn! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Dennis Family Homes 3Jul 09, 2015 11:20 pm Yeah it's weird, even with the non-genuine savings loans available at 95%LVR, personal loans aren't supposed to be applicable for the deposit. Wonder how they do it? Cheers, Tom Re: Dennis Family Homes 4Jul 10, 2015 11:21 am It is interesting, I've sent an enquiry and report back here with my experiences. Re: Dennis Family Homes 5Jul 24, 2015 7:20 am Howdy, any update? Did you hear back from them? Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Dennis Family Homes 6Nov 03, 2015 5:49 am Very interesting, we went for simonds with their $5000 deposit promo. They set us up with their preferred broker. The broker decided Westpac was good for us and spent two weeks getting us a $10,000 personal loan to use as part of our deposit. We then spent another 4 weeks waiting for approval on the home loan only to be told it was declined because we couldn't use that personal loan for the deposit and that the other existing personal loan of $13,000 we had needed to be paid off. We closed the new personal loan and borrowed $10,000 from my mum to pay off the existing loan. Then spent 4 weeks saving our little butts off. We re applied with Westpac only to be told 2 weeks later that we were declined again because the land valuation was bad. We then found out that the land val was done with the first application and they hadn't told us, at this point I was fuming, 3 months and we were back at square one. We then applied with Commonwealth with a full 5% deposit and three weeks later we are finally approved! I guess the moral of the story is, these low deposit promos seem too good to be true because they are.. You really do need at least 3 if not 5%. Building Simonds Express Westbury Premium in Vic 2015 / 2016 Re: Dennis Family Homes 7Nov 03, 2015 10:46 am Ergh, sorry to hear you had a bad experience but good on you for being flexible and doing what it takes and not giving up - here's to a stress free build from here on in! Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Dennis Family Homes 8Jul 07, 2016 5:07 pm Wow Gemma, at least it got thru in the end. Usually its like baseball, 3 strikes (apps) and your out! Congratulations, you found a certified "joker broker" that Simonds recommended ! Was he a taxi driver also by any chance? Hi everyone, Newbie renovator here, after some advice for combining our family room in the picture and the alfresco and make a larger family room. There is a flush sill… 0 4877 Ask for references and speak to them. If they are defensive or try to avoid the request, walk. 1 74688 I would never build with Fowler homes. I built with them in 2021 and till date maintenance issues are pending. All their existing trades and businesses don't work with… 14 105496 |