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becjarrettdalton
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becjarrettdalton

Sydney region
Joined 22 July 2014
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12 d12 dbecjarrettdaltonbecjarrettdalton posted:
RECOMMENDATIONS: Adelaide Brokers!

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

12 d12 dbecjarrettdaltonbecjarrettdalton 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…

1 month1 monthbecjarrettdaltonbecjarrettdalton 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.

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Bantix Mosquito SLAYER! DIE MOSQUITOS!

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

1 month1 monthbecjarrettdaltonbecjarrettdalton 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…

1 month1 monthbecjarrettdaltonbecjarrettdalton 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 :)

1 month1 monthbecjarrettdaltonbecjarrettdalton 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…

2 months2 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

2 months2 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…

2 months2 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

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

4 months4 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…

4 months4 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…

4 months4 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…

  ⋅  1
4 months4 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…

  ⋅  1
4 months4 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…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Tight lending (Does this sound right)

All lender criteria vary widely - including the way they scale rent and other commitments. Additionally they have to test based on a buffered interest rate (and are regularly audited…

  ⋅  1
6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage with 92% LVR

Congratulations ... and commiserations. I'm glad you worked it out before you bought & it's a valuable exercise I encourage.
You should be able to simply convert to any property.

  ⋅  1
6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Developer/Builder + Broker Purposely Stalling Finance?

Ohhhh ok Suncorp explains a lot, they’re verrrry slow at the moment, and have been for quite a while. So slow they are completely off my radar.
Look it’s not impossible…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Developer/Builder + Broker Purposely Stalling Finance?

Can I just confirm - strata lots? Is it a unit or villa type? Connected walls or free standing dwelling?
Have you had any lender feedback, ie: the need to supply…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage with 92% LVR

Sitting next to a lender :)
Definitely Buyback clause is not something a bank is keen for, however, definitely bank does want you to build quickly, which…

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage with 92% LVR

I think you actually might have that mistaken - banks tend to avoid buyback clauses.
95% inclusive (so 92% + LMI) is not uncommon nor difficult in metro locations for…

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
Land and Construction Loan

Erm, that’s not Aussie, are you looking in Australia?

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Technically as you didn’t live there you May be ok. You’ve done the right thing contacting the OSR, let them be the arbiter. You can ring them on Monday too,…

7 months7 monthsbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Technically as you didn’t live there you May be ok. You’ve done the right thing contacting the OSR, let them be the arbiter. You can ring them on Monday too,…

8 months8 monthsbecjarrettdaltonbecjarrettdalton posted:
Building a house with a Mortgage

Hi, I assume you have a bridging loan? What state are you in? The obvious issue is if the property does not sell, or does not sell for the right…

9 months9 monthsbecjarrettdaltonbecjarrettdalton posted:
Construction Administration Fee by Bank

I’m saying this in a really small voice...unfortunately it is. Every lender has some kind of construction fee charged either up front or per progress draw and it covers the…

9 months9 monthsbecjarrettdaltonbecjarrettdalton posted:
Lots of questions Re: first mortgage for land/construction

Opinion only offered - educated opinion ;)
So - your question is a little bit how long is a piece of string because there are very many…

  ⋅  1
12 months12 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation shortfall Construction Loan

Rex, you can but be mindful the bank has the final word and the valuers don’t like being challenged. And ultimately the banks won’t use a valuation from a valuer…

12 months12 monthsbecjarrettdaltonbecjarrettdalton posted:
Using a new broker after pre approval expires

Absolutely critical support. I agree. Perhaps there has been a major illness or worse. Fingers crossed for smooth sailing for you hereon in.

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