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becjarrettdalton
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becjarrettdalton

Sydney region
Joined 22 July 2014
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3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Home finance

That really depends on the land contract, I would speak with your solicitor for the purchase - and also review the build contract. You might find you lose some deposit…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Using your builders Broker

Broker here - legislation says that every true broker must put the clients best interests before theirs so in theory they must offer you the best options for you on…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
KDR - Home Equity Loan vs Construction Loan

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…

  ⋅  1
6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Home loan and landscaping change in price

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 year1 yearbecjarrettdaltonbecjarrettdalton posted:
CBA construction loan - out of contract items

Hello - not knowing your personal circumstances I can't give you specific advice, but, for my clients when this happens once they've sent in the final payment we get them…

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2 years2 yearsbecjarrettdaltonbecjarrettdalton posted:
Land Loan first and Construction Loan Later (Does it work?)

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…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Loan repayments during registration/building phase

Is it your own home or investment? If it’s your own home the considerations are around the stamp duty concession and any first home grant available.
Investment - you used…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Loan repayments during registration/building phase

Hello, enjoy the process!
To point 1 - if you’ve already exchanged on the block then nothing more to pay there until settlement (after registration). The next payment to the…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Lenders and PhD income

Hi, the consideration is taking out a 30 year loan, with income they know will cease in a number of years - or less. Of course, one presumes you would…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Knock-down Rebuild Finance

Perfect opportunity to review the market and make sure you're competitive... and also different lenders have vastly different appetites. There's one bank who won't do KDR (gosh I wish I…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Construction loan with 88% LVR

Nab is an automated system - what they refer to as their "internal credit score", and yes it is tighter now... but that said - you are an existing client…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Land loan then build - deposit requirements

Love that your broker is getting a holiday :)
Basically you need between 5-20% of the build cost, including any growth you see in the land (yes…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Getting a loan approved - better to have house or cash?

Lol! Reason I have a job 💁🏻‍♀️ Ask friends and family to recommend a broker - they can tell you what will and won’t work.

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3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Getting a loan approved - better to have house or cash?

Prizm is correct - both are assets. The answer will be around affordability, if you keep the house can you show affordability for the loan vs if you are borrowing…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Plans submitted for Loan Approval

The key is the 4 elevations of the property (outside view from each side) and floor plan with room measurements - coincidentally this will encompass the above detail and its…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall on Contruction component of our loan

Yep, with Adelaide! Its to remove them from liability if you chose to (and are able to) proceed and also alert you to the fact they think the builder is…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Land Loan first and Construction Loan Later (Does it work?)

Your broker is the professional in this area - you aren't aware of your mates full circumstances... if your broker is confident affordability is there for the land loan on…

  ⋅  1
3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Valuation for construction

In essence - yes, but in fact they will look for "like" houses to compare to it...

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Valuation for construction

The valuer generals report won't help a bit, that isn't anything like the sales value - thank goodness!! when did you buy the land? If recent, it will probably be…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
CGT on land division

This is only a question for your accountant, sorry!
If I am following, you've moved out of your PPOR for 6 years - the 6 year rule - and now you're…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Valuation for construction

Hello - was the valuation short on the land component or the build component? If its the build Chris' first point has some merit - but you could also go…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Loan for H&L Package - Where to start?

I’m not sure UBank will do construction?
The one thing you won’t know is what criteria each lender has behind the scenes, for example minimum employment types, or how much they…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Can you get LMI back?

$17k!!! This must be a very high value loan?
Have you settled the loan yet? If not - get a broker to look elsewhere quickly.

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Can you get LMI back?

So....if you refinance, close that loan, within 12 months there was a policy that you could ask for a portion of the LMI back with certain lenders. But it’s rarely…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Land loan and construction loan

I'll pick up this and reply - the only way it double dips on LMI is if you change lender, otherwise the premium you pay for the build portion (in…

3 years3 yearsbecjarrettdaltonbecjarrettdalton posted:
Land Loan and Construction Loan Sequence

Subject to their being a confirmed sale, yes.

4 years4 yearsbecjarrettdaltonbecjarrettdalton 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…

4 years4 yearsbecjarrettdaltonbecjarrettdalton 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…

4 years4 yearsbecjarrettdaltonbecjarrettdalton 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…

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