Browse Forums Building A New House Re: Boutique Homes 1235Jun 02, 2015 12:46 pm Hi again everyone, We settled on our block of land in March; unfortunately at the time, we didn't have an HIA contract ready. Now it's June and we have a contract signed, however as you know, our bank undervalued our house. We've shopped around and have now been told by another broker that no other lender will re-finance the mortgage on our land until we've had at least 6 months re-payment history. So our choices are currently: 1. Take Westpacs undervaluation 2. Wait another 4 months until we have 6 month history, then we can shop around Has anyone ever heard of this before? My other broker has never heard this before. Re: Boutique Homes 1236Jun 03, 2015 9:15 am Hi everyone, finally after all the struggle with the loan (almost lost our land) our house construction is starting today. We are so excited!!! Can you guys please suggest a good inspection company? Thanks. @JP79: Our land+house was undervalued by both CBA & Westpac but we then approached ANZ with a pre-valuation which ANZ was happy about & got the loan done. Never heard of this before. Re: Boutique Homes 1237Jun 03, 2015 10:11 am Congrats sanjay Best on we found out was DARBECCA PTY LTD ( Darren love , & brett)call the following number if u wish 0419 224 440 They are very good and very proffessional and found a lot during inspection which we don't think of. Some Minor which can be ignored but some major and needed to be fixed. Re: Boutique Homes 1238Jun 03, 2015 10:19 am sanjaybasavaraj Hi everyone, finally after all the struggle with the loan (almost lost our land) our house construction is starting today. We are so excited!!! Can you guys please suggest a good inspection company? Thanks. @JP79: Our land+house was undervalued by both CBA & Westpac but we then approached ANZ with a pre-valuation which ANZ was happy about & got the loan done. Never heard of this before. Thanks Sanjay, Did you already have a loan on your land only and then added the construction later? Apparently our issue is because we already have a land loan and now (less than 6 months later) we're trying to find a different lender to re-finance our land loan and add the construction. Re: Boutique Homes 1239Jun 03, 2015 3:49 pm Congrats sanjaybasavaraj on the start, watching the house go up is very exciting! Jp79, I'd look into the 'mid tier' banks as they are more flexible with finance etc and would be more likely to want your business. ( bank of Melbourne, CUA, Bendigo bank, etc...). I think the 6 month statement is a laziness part of the banks as it is hard for the big banks to do all your paperwork registering and then transferred in 6 months. A friend of ours just sold their house after refinancing 2 months prior. Their settlements was delayed almost 2 weeks because the paperwork hadn't been finalised from the original transaction. They ended up getting the bank manager involved and it was sorted. Did you have any luck with resolve, surely boutiques own finance coy won't under value their builds.....? Re: Boutique Homes 1240Jun 03, 2015 6:35 pm Hi Szep, It was the broker at Resolve that has told us about the 6 month issue. He hasn't bothered to get other valuations for this reason. Back to shopping around. 10 16369 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 109718 |