I am committed to purchase a home and Land package from Clarendon (High grove Box Hill )
I had my Land and Building (split) contract reviewed by my Solicitor. I was told that (SC53.1 ,53.2(a) ,54) way the clause is written in contract (in short; land contact says, house must be build with Clarendon home), I would find difficult to get my home loan approved.
I had this claim confirmed with my mortgage broker (and he himself got a written confirmation from NAB,CBA, ANZ andWestpac) "not accept split contracts such as what is proposed by Clarendon"
My original sales Agent was very helpful, but, unfortunately, he has moved on to another job. Currently I am getting different answers from Sales department people.
I am wondering if anyone of you had this problem? . please help......
Thank you in advance
Hi bernardarj,
When you apply homeloan, you cant get loan on land only. No bank will allow it. You will need to lodge both land and house contract at the same time.
Regarding builder, well, if you purchase land and house package from clarendon, then you will need Clarendon, yoh wont be able to get other builder to build the house. Unless you buy land separately from the beginning.
Hope this helps.