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becjarrettdalton
340 Posts
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becjarrettdalton

Sydney region
Joined 22 July 2014
Silver Member
3 d3 dbecjarrettdaltonbecjarrettdalton posted:
Construction loan repayments

Hi Dicko,
It varies according to the invoice amount for each stage...
What you need to do is work out what the loan balance will be at each stage and multiply…

22 d22 dbecjarrettdaltonbecjarrettdalton posted:
dreaming?

Hi Ayemar
there's a much bigger conversation to be had before anyone could answer if the loan is affordable or not, but, I want to separate out the equity issue. Building…

25 d25 dbecjarrettdaltonbecjarrettdalton posted:
Bank Loan - shortfall

Oh sorry to hear that Rach, but glad you got a solution.

25 d25 dbecjarrettdaltonbecjarrettdalton posted:
Bank Loan - shortfall

Hi Rach, the bank always work on retaining exactly what the contract say are required to complete the build hence you have to put your money in first - this…

28 d28 dbecjarrettdaltonbecjarrettdalton posted:
Finance - External Broker vs. In-house Broker?

Hi Salman,
FULL DISCLOSURE UP FRONT - I am an external broker so I have a bias.
There's no advantage with an internal broker over external - in my opinion, in fact…

  ⋅  3
1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Financing additional items after handover...

OK, so send your quotes through when the build is finished and they might be able to top up. I've seen Bankwest so this, I have had anyone with ANZ…

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Financing additional items after handover...

Hi, after settlement, depending on what percentage of the home value you have borrowed and other approval criteria - you may be able to top up your loan to cover…

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
First Home Buyers - Stamp Duty

Hi, thats been my experience, you claim it after the house is built - but I don't do a lot in VIC, PLC would…

  ⋅  1
1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Time Frame of when to apply for construction loan?

Hi Ray,
Generally approvals last around 90 days now, most often you would want to be ready to rock as soon as you settle on the land which means getting the…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Henley home, partially built- not Advice

Yep, agree. Cant see any reason you cant have a valuation done now so you can go unconditional. The one thing, your approval may still expire if the build doesn't…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Henley home, partially built- not Advice

Then I cant see any issues to having it valued now, unless - and this is really extraordinary - the builder won't let anyone in. What documents do you have…

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Henley home, partially built- not Advice

I've received a PM from an anonymous poster (so I cant reply to it) regards a partially build Henley home (assuming its in VIC?).
The question asks if a valuation can…

  ⋅  1
2 months2 monthsbecjarrettdaltonbecjarrettdalton 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…

2 months2 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton 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
3 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

3 months3 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…

4 months4 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…

4 months4 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…

5 months5 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…

5 months5 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…

5 months5 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,…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Waiting on finance - what do you think?

Fantastic! Congrats! Happy building :)

5 months5 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…

Joined homeone
22 July 2014

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