Browse Forums Home Finance Re: Urgent bankwest construction loan q 2Sep 11, 2015 1:47 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Urgent bankwest construction loan q 5Sep 11, 2015 2:16 pm Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Urgent bankwest construction loan q 9Sep 12, 2015 2:45 am My construction loan is with bankwest and I heard about the minimum fit-out stuff but in the end I didn't need to provide any quotes. I am not sure if this is just because of the broker I went through or because I am an existing bankwest customer and they can easily see my accounts and that I have enough money remaining after deposit to finish it all off without an issue. My build includes the flooring and driveway, and the land includes front landscaping and fencing, but everything else I will do after and I didn't need to provide any quotes to get my formal approval via the broker. Before I went with a broker though I met with the bank directly and the loan officer gave me the list of what I would need quotes for (floor coverings, front landscaping, fencing, painting, window treatments). Mason Green Estate, Piara Waters with Celebration Homes: https://forum.homeone.com.au/viewtopic.php?t=79358 Re: Urgent bankwest construction loan q 10Sep 13, 2015 2:29 pm ![]() Hi brokers and others who have built houses via bankwests construction loans. Needed an urgent response in regards to bankwests minimum fit out policies etc. Can i get away doing my own window treatments post handover myself. Cash isnt a problem. Same for painting and lighting. Flooring is done by builder, front landscaping and fencing are provided. Can anyone confirm if bankwest require you to submit a build contract or external quotes for window treatments etc. My main reasons for asking is i wanted to save money by doing it myself than tradies. Given drilling and putting up a venetian should be simple. Same for learning to diy my own painting. If it won't be allowed i may need to reconsider using bankwest. We used Bankwest. And after handover still had to do main area flooring, full lighting, carpets, window treatments. Was never and issue but we were required to get quotes during loan approval application stage to demonstrate what we were looking at cost wise to complete the build. After handover we paid the invoices for those after handover things and then just sought reimbursement. Sometimes that was within 48 hours but our last one has taken a week which is annoying Re: Urgent bankwest construction loan q 11Sep 14, 2015 3:27 pm Ahh ok great. Yeap so it seems I can estimate the cost of doing it or get quotes, but at the end of the day as long as you pay and do it yourself , you can seek reimbursements for the cost of it that has already been factored into finance from the sounds of it. I'm lucky in that flooring is done as part of the builder, and landscaping and fencing by the developers perks for building, so I'm not too far off with meeting those items. It's jsut the window treatments which will be a pain. Seems painting and soakwells don't come under this - did any of you DIY soakwells with an external party to save money post-handover rather than do it through the builder? @oduen: Yeap, my situation as described in my response above meets yours. Same estate as well so I also have the landscaping/fencing as i"ll be building within the usual prescribed times to take the developer's offer up. I looked at celebrations too vs my builders so fully aware the same was offere through them (included flooring and driveway/cross-over). May I ask if it isn't too busy a body what sort of LVR everyone went with for Bankwest and the circa loan value and rate you got? I got a 88% LVR i'm gunning for , so a loan of circa $450-455k will most likely meet my estimated house and land completion requirements. Rate i got offered for their premium select home loan product was only 4.34% which is abit of a far cry from their 4.09% on their best product promo at the moment? Be curious to see what you guys got, particularly yourself oduen as your land and construction value will probably be pretty similar being in same estate and all...would be keen to hear Beazley and others too for some group comparison/Goss? Supposedly pricing power is gone if your above 80% LVR though.... just wanted to see if it was true! Re: Urgent bankwest construction loan q 12Sep 14, 2015 3:29 pm @nic and shell - would you be able to share where you used online for ordering your window treatments? Looking for suitable venetians and verticals that are affordable in the event it goes from a PPOR to a rental in the future (wouldn't want to splash out on expensive curtains in that case)! So for yourself and beazley, did you both just finish the work, send in copies of invoices and you get reimbursed? I assume they just want pictures of the work done and don't come out to verify the work done before paying you back? Re: Urgent bankwest construction loan q 13Sep 15, 2015 9:35 pm ![]() @nic and shell - would you be able to share where you used online for ordering your window treatments? Looking for suitable venetians and verticals that are affordable in the event it goes from a PPOR to a rental in the future (wouldn't want to splash out on expensive curtains in that case)! So for yourself and beazley, did you both just finish the work, send in copies of invoices and you get reimbursed? I assume they just want pictures of the work done and don't come out to verify the work done before paying you back? We used home Blinds Australia, but we had big troubles with them, missing things, one blinds wrong etc, they did sort the issues out though but yeh it didn't come without the hassle unfortunately. But I just got the invoice from them, gave it to the bank, the bank paid and then the stuff got ordered. Re: Urgent bankwest construction loan q 15Oct 24, 2015 12:15 pm Sorry for the late reply, you might have better luck with them, we had issues but I was pleased with the customer service they always answered emails relatively quick. And they didn't try to disregard the issues, they got it sorted. 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 20302 ![]() thanks Chippy, i hope they have applied sealer but i am doubt to be honest, so i am gonna do this job after handover. 8 17535 I am building in claymore NSW and this is shown in the building envelope plan. … 0 11042 |