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becjarrettdalton
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becjarrettdalton

Sydney region
Joined 22 July 2014
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8 d8 dbecjarrettdaltonbecjarrettdalton posted:
95% LVR land loan, or alternatives

No, you can have the 20% on the land, and then borrow the a higher percentage when you build if the valuation comes in low, but the whole lot is…

8 d8 dbecjarrettdaltonbecjarrettdalton posted:
95% LVR land loan, or alternatives

Construction loans use all of your money first - so you have to have the money when you're ready to settle on your construction loan. You could settle on the…

14 d14 dbecjarrettdaltonbecjarrettdalton posted:
Deposit with 2 jobs inc ABN

Ahhh complicated and fun answer :)
The answer is - we can only work with what is, not what will be. So right now you have…

19 d19 dbecjarrettdaltonbecjarrettdalton posted:
Worried about Land Valuation

Tricky in a new estate - otherwise onthehouse.com.au or the "sold" section of realestate.com.au to compare sold properties with like attributes in the area, sorted by most recent and referencing…

19 d19 dbecjarrettdaltonbecjarrettdalton posted:
Worried about Land Valuation

Tricky in a new estate - otherwise onthehouse.com.au or the "sold" section of realestate.com.au to compare sold properties with like attributes in the area, sorted by most recent and referencing…

19 d19 dbecjarrettdaltonbecjarrettdalton posted:
Worried about Land Valuation

Hi Sarah,
Fingers crossed for a decent valuation for you.
Basically the valuation will be based upon comparable sales of 'like' properties in the area - so vacant land compared…

22 d22 dbecjarrettdaltonbecjarrettdalton posted:
Paying for a house build outright?

You will anyway - you won't want to pay upfront, and they won't want to wait until the end :)

22 d22 dbecjarrettdaltonbecjarrettdalton posted:
Paying for a house build outright?

Hi, well done!!!
Generally, yes - they’ll want to see you have the whole lot available because if you don’t save the money they can be in a situation where they’ve…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

Be careful of multiple applications at once, fingers crossed on new valuation.

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

Yep - wasn't thinking to challenge the valuation so much as to work out if you think it's accurate. I know the area, and I know what you mean…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

Hi Alissa, I can understand your disappointment and concern. Have you had a look at the valuation? Have you compared it to other sales of 'like' houses in the area?…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Suggestions for finance options for land/construction

Hello... depending on the situation you may be able to take a land loan and then a construction loan - be mindful you'll have to qualify for the land loan…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
New home finance

Not all - some are like that, the Adelaide product is unique. Check it out :)

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
New home finance

HI Matt,
what you could be looking for is bridging finance - and - providing that you qualify there is a lender who can offer this where the interest is…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Land Price Valuaiton Reduction before Registration

As you know the Sydney market has moved, and with those other blocks listed for less that will make it challenging for a higher valuation. Obviously paying less is better…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Land Price Valuaiton Reduction before Registration

Oh Dave, I'm so sorry to hear this.
Where is the land? Unfortunately this is the risk of off the plan purchase and I hope you received some advice before purchase.
You…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Declined by LMI - what to do next?

shape - he’s saying the loss was to the mortgage insurer itself.
@Dozza try QBE or perhaps ANZ or Westpac - check with…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Declined by LMI - what to do next?

Hi Dozza, there are two mortgage insurers - and then some lenders self insure. You May be able to qualify with the other mortgage insurer or with a lender who…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Contracts signed-subject to Bank Val-

Another thought is - if you do wish to proceed - to get another valuation done up front with another lender and see if the valuation is incorrect. But generally…

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Building a house with a Mortgage

There you go, there’s a plan. Just be mindful of changes in the market & not coming unstuck. Well done & enjoy the process!

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Building a house with a Mortgage

Hello - I think there was a case on the TV recently where the development exceeded the 'sunset clause' date and the developer rescinded the contract (effectively cancelled it, handing…

9 months9 monthsbecjarrettdaltonbecjarrettdalton posted:
Homes and SMSF

Hi Dean,
It definitely varies, and if that includes the statement of advice which would sign off on the LRBA agreement it’s not unheard of. I’ve seen similar but I did…

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Slab Progress Payment shortfall?

CBA take the FHOG an apply it at slab stage - it has to be something around this, right? But good point you raise on client contribution.

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Slab Progress Payment shortfall?

That’s why the figure stoood out to me - the FHOG is paid via the bank, at least you now have something to follow up and hopefully a solution.

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Slab Progress Payment shortfall?

Ok and check the progress payment schedule - did the builder invoice too much?

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Slab Progress Payment shortfall?

What was the invoice amount the builder actually sent?
Is the difference the first home owners grant?

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Figuring out what size mortgage we can finance

You can mitigate some of the risk by considering a fixed rate - and in terms of affordability if the bank has already passed you through their calculators the next…

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Things to discuss about mortgage penalty

Erm - this is Australian site - in Australia no penalties for variable rate - go Aussie!!!
The rest doesnt really apply to us either

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Go cheap now or better later?

Got it. That’s lending criteria....tough isn’t it.
So you can’t even buy a fixer upper? Potential future knockdown?

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