Browse Forums Home Finance Re: Land Loan first and Construction Loan Later (Does it wor 2Mar 15, 2021 8:16 am Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Land Loan first and Construction Loan Later (Does it wor 15Nov 16, 2021 1:37 am Rebecca Jarrett-Dalton Property crazy expert mortgage broker, love building new homes! Two Red Shoes mortgage broker http://www.tworedshoes.com.au/building Re: Land Loan first and Construction Loan Later (Does it wor 16Nov 19, 2021 6:10 pm becjarrettdalton Hello! Without knowing your personal circumstances can only say generally…. It’s no better or worse to bring it into one loan or not Except - you may be able to have it all interest only if you combine it And you may incur a penalty for breaking the fixed period if the rate is different than todays. On the flip side, you’re unlikely to get the same fixed rate again so if you don’t need to break if (don’t need interest only etc) perhaps think of keeping the two separate still. Thanks Bec! I would have thought so too, given really low fixed interest rates prior months ago. thanks for the insights 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 19484 Thanks very much! And would the landscaper/contractor generally involve the engineer or is that something the client would do? Thanks for your help 2 10170 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 35649 |