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becjarrettdalton
327 Posts
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becjarrettdalton

Sydney region
Joined 22 July 2014
Silver Member
15 d15 dbecjarrettdaltonbecjarrettdalton posted:
Conditional approval subject to valuation

OK good - so you're right, not a lot of wiggle room and not a lot of other lenders to choose from. What do land sale prices look like in…

15 d15 dbecjarrettdaltonbecjarrettdalton posted:
Conditional approval subject to valuation

HI Moventura,
What percentage of the value of the property are you buying?
If you proceed, and if the valuation comes in short - you could be scrabbling for more money to…

24 d24 dbecjarrettdaltonbecjarrettdalton posted:
House and Land Package Finance - Nervous First Home Buyers

HI Caydenn, I haven't run the numbers on affordability as thats a much bigger conversation. Your broker has the full story so I would trust them. As mentioned above, the…

24 d24 dbecjarrettdaltonbecjarrettdalton posted:
Renovation loan help >_<

Huh? Thats really strange, did you issue documents and sign and return them? If so, I think whats probably more the case is they make you use all your money…

27 d27 dbecjarrettdaltonbecjarrettdalton posted:
Home loan interest rate bottomed out in Australia?

Who has a crystal ball.... Sorry thats not helpful.
What we are seeing is a bit of a yoyo - rates go up, then down, then up, then down based on…

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Construction loans

Hi,
Not impossible you could get a bridging loan (don't think nasty things of old days, they are much improved) which would allow you to borrow as much as you needed…

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Land and Construction Loan

Plus, further to Tom's accurate response it gives you options should the (very unlikely) occurrence of having to change lenders between land and build if something crops up like a…

  ⋅  1
1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Construction loan question

Sorry - this only just came through. It's up to the valuer and the way the contract is worded - if the valuer thinks what is in the contract…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Construction loan question

Hi Heliosphere,
your biggest challenge will be no kitchen - without a kitchen in the contract it will be deemed inhabitable and unacceptable security. The flooring is no drama, kitchen…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
10% deposit & clear debts VS 17% deposit with debts for land

It actually comes back to income & timing for your build & what you might need to hold back for finishing items on the home (landscaping etc) - yes it…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Build Loan

HI Candice, depending on how much you're borrowing and how much deposit you have there are construction loans from high 3's to mid 4% range.
For example I have lots of…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Westpac Home Loan - Draw Down process

Definitely sign the invoice (when you're satisfied the work is done) and write "please pay" or something like that, add the form Westpac sent you in the beginning for that…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage / Title questions

Commbank are notoriously slow for registration which explains the delay & those look like normal registration fees, I am more convinced its transfer duty but only your conveyancer can confirm…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage / Title questions

Hmm this is very curious!
OK so the timing, quite normal. I've known banks to take up to 6 months to register the title change.
Regards both mortgages - definitely not normal,…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Waiting on finance - what do you think?

Fantastic! Congrats! Happy building :)

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
GST and CGT on investment property

Not completely on top of this but I think there's a few confusing rules there.
Gst will be included in the build price and won't apply on the sale price (to…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Waiting on finance - what do you think?

Without doing the math on affordability I think your broker is right to be confident based on the rest of the info. 20% deposit, stable residence and employment, they won't…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Refinance or stick with existing bank - reno advice?

The question comes down to two points - serviceability, can you afford the loan - and that's a huge conversation
And secondly, does the loan still suit you. From that perspective…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Home Valuation Trouble - New Construction

Is it a new estate? Where are you buying? Are there incentives offered by the developers, like cash backs? Has anybody mentioned why the valuation is low - comparable sales…

  ⋅  1
4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

Yes get quotes, these can be done from the plans & is quite normal and no lenders don't tie you to them.
Alternatively you can have the builder include them…

  ⋅  1
5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

Yes good point Tom :)

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

Very welcome!

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

HI, They value it at the approval stage with the full plans and specifications and either tender or tender and contract.
You can supply your separate quote - and you probably…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Adding in items after loan approval

Hmm that can be tough - depending on how much you need to borrow as a percentage of the valuation. It can be added as a variation to the contract,…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Paying Deposit

Congrats! Exciting times ahead - do you have a broker/solicitor? They would know where and when to pay the 5%
Is the 5% you're referring to the land deposit or the…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Application Enquiry

Oops sorry - wish that could be better for you

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Application Enquiry

Ugh. They're slow! Sorry. No definitive answer as to how many days because all lenders are slow at the moment...hang in there.

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
A tough one about the First Home Owner's Grant

Nice work - go you! I think people lack the desire to take ownership and see something through to completion in some of these large organisations - or are hamstrung…

6 months6 monthsbecjarrettdaltonbecjarrettdalton posted:
A tough one about the First Home Owner's Grant

Hi, I am not able to confirm it will be possible with WA OSR, but, I know NSW OSR have distinct rules against changing contracts / re-applying with a different…

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Joined homeone
22 July 2014

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