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becjarrettdalton
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becjarrettdalton

Sydney region
Joined 22 July 2014
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2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Land Loan and Construction Loan Sequence

Subject to their being a confirmed sale, yes.

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Property Valuations - Elara Marsden Park, NSW

You should be fine with it - they’ll issue an approval subject to the contract being signed.
Most builders will give you a copy of the contract signed with a cooling…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Property Valuations - Elara Marsden Park, NSW

bigteether you can get a valuation on a tender, specifications and plans with room measurements, no contract required. No current experience with valuations…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
PAYG IT Contractor - Home loan

Hi Bigteether,
This is challenging at the moment as appetite for contractors is not as good as it was pre-COVID, however all is not necessarily lost. The biggest hurdle as…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Timing of access to construction loan.

It depends on the overall percentage you borrow - sometimes you can borrow the additional money you need for the demolition as well. The redraw in your investment loan is…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Does our current mortgage bank need know knockdown rebuild?

plc Complying development certificate - NSW speak for fast track approval.
hxyconan you should still notify the…

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5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Try this calculator and give the state revenue office ring, they have the final word (that’s what I do to double check if unsure)
https://apps.osr.wa.gov.au/portal/0/hom ... 1928092652

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Ziri - are you buying as two contracts (land on one contract + build on the other) or one contract for both?
I’m not familiar with WA stamp duty, but it…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Construction loan advice

Why no offset? Is that by chosen package?
And construction loan interest rate is higher? I didn’t think it was with CBA but not sure on that, they’re not my preferred…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Loans in the post covid world

Oh no, poor things. It’s not the IT, it’s travel. Most lenders (nearly all, off top of my head) are not accepting applications from that industry. But let me ask…

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6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Finance options for a pool

My cheif concern would be jeopardising the build loan by taking out more finance - so definitely be upfront with the bank / broker.
Cost effective....I see both sides. I…

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6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Finance options for a pool

If it’s affordable - not impossible.

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Investment land - Tax Question

That one is out of my scope sorry - the legislation changed on it recently & I don’t want to mislead you. It used to be you could claim beforehand…

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6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Investment land - Tax Question

You need to check that with your accountant, but, typically loan costs are depreciated over a term and not immediate deductions, sorry! Especially so where its not yet deriving an…

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7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
RECOMMENDATIONS: Adelaide Brokers!

I definitely would, give Nani a call, you’re in great hands, and thanks for kind words :)

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
RECOMMENDATIONS: Adelaide Brokers!

Hello, full disclosure I am a broker but strongly recommend you find one near you - for starters ING are great but they don’t do building loans, at all!
The interest…

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
Bantix Mosquito SLAYER! DIE MOSQUITOS!

Thanks for the tip. I’m on acreage and lots of foliage. I do remove standing water but it will always be a mozzie heaven.

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Bantix Mosquito SLAYER! DIE MOSQUITOS!

Can’t get it at all by the looks - but thanks for the feedback.

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Bantix Mosquito SLAYER! DIE MOSQUITOS!

Hello, did any of you get these? I am looking to cover an acre and have been told the mosquito slayer is the one for me but reviews are very…

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Contruction loan halfway through build?

Yep, it’s possible - but I guess I’m not familiar with your land / build splits to comment on that :)

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Contruction loan halfway through build?

Hello, if I answer the final question it will give you the answer to all of them.
Very few lenders accept a partially complete construction - it’s a very risky position…

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Land loan and construction loan

You’re very welcome, it’s likely they’ve already got that underway - most brokers won’t want you to buy the land without knowing you can afford to build on it

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Land loan and construction loan

Hi Annie,
Yes you can do that exact sequence. Definitely they will do as if complete valuation at any time the build contract is ready.
For the preapproval they need the…

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Land loan and construction loan

Hi Annie,
Firstly - to your extension, what state are you in?
What you’ve done sounds very normal. You can’t get the build loan approved without plans and a build contract (with…

9 months9 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

Umm more info needed! Easy option - ask friends and family to recommend a good broker near your 😉

10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
Surplus funds?

Was there any difference between the contract amount and the original tender?
Or the contract and the actual charges from the builder?
Don’t spend it until you clarify (you should be able…

10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
Surplus funds?

Ha! Sounds like you have some left over money - or “surplus funds”, it could be these were borrowed for landscaping or other “finishing items”, your fence etc.
If you…

10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
Very Low Income - Large Deposit - will I get a house loan?

So we aren’t talking personal circumstances here - but the respondents are pretty spot on....
Equity (your deposit)
And your ability to repay a loan
Are two completely different animals.
And the lenders are…

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10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
Extending a construction loan?

Did you happen to include a provisional allowance for these upgrades in your tender?
The difficulty comes in revisiting the valuation (if necessary) you HAD a kitchen, now you have…

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10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
KDR - not on deeds but primary earner - will bank loan to me

Lenders will allow your income to be taken into consideration as a co-borrower or a guarantor if there is “substantial” benefit to you. How that looks differs between lenders.
Some are…

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Joined homeone
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