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becjarrettdalton
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becjarrettdalton

Sydney region
Joined 22 July 2014
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5 d5 dbecjarrettdaltonbecjarrettdalton 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…

2 months2 monthsbecjarrettdaltonbecjarrettdalton 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 months3 monthsbecjarrettdaltonbecjarrettdalton 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 months3 monthsbecjarrettdaltonbecjarrettdalton 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 months3 monthsbecjarrettdaltonbecjarrettdalton 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 months3 monthsbecjarrettdaltonbecjarrettdalton 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…

4 months4 monthsbecjarrettdaltonbecjarrettdalton 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…

4 months4 monthsbecjarrettdaltonbecjarrettdalton 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…

4 months4 monthsbecjarrettdaltonbecjarrettdalton 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…

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5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Valuation for construction

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

5 months5 monthsbecjarrettdaltonbecjarrettdalton 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…

5 months5 monthsbecjarrettdaltonbecjarrettdalton 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…

6 months6 monthsbecjarrettdaltonbecjarrettdalton 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…

6 months6 monthsbecjarrettdaltonbecjarrettdalton 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…

6 months6 monthsbecjarrettdaltonbecjarrettdalton 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.

6 months6 monthsbecjarrettdaltonbecjarrettdalton 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…

6 months6 monthsbecjarrettdaltonbecjarrettdalton 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…

10 months10 monthsbecjarrettdaltonbecjarrettdalton posted:
Land Loan and Construction Loan Sequence

Subject to their being a confirmed sale, yes.

10 months10 monthsbecjarrettdaltonbecjarrettdalton 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…

10 months10 monthsbecjarrettdaltonbecjarrettdalton 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…

11 months11 monthsbecjarrettdaltonbecjarrettdalton 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…

11 months11 monthsbecjarrettdaltonbecjarrettdalton posted:
Timing of access to construction loan.

It depends on the overall percentage you borrow - sometimes you can borrow the additional money you need for the demolition as well. The redraw in your investment loan is…

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Does our current mortgage bank need know knockdown rebuild?

plc Complying development certificate - NSW speak for fast track approval.
hxyconan you should still notify the…

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1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Try this calculator and give the state revenue office ring, they have the final word (that’s what I do to double check if unsure)
https://apps.osr.wa.gov.au/portal/0/hom ... 1928092652

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Stamp Duty Question

Ziri - are you buying as two contracts (land on one contract + build on the other) or one contract for both?
I’m not familiar with WA stamp duty, but it…

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Construction loan advice

Why no offset? Is that by chosen package?
And construction loan interest rate is higher? I didn’t think it was with CBA but not sure on that, they’re not my preferred…

1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Loans in the post covid world

Oh no, poor things. It’s not the IT, it’s travel. Most lenders (nearly all, off top of my head) are not accepting applications from that industry. But let me ask…

  ⋅  1
1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Finance options for a pool

My cheif concern would be jeopardising the build loan by taking out more finance - so definitely be upfront with the bank / broker.
Cost effective....I see both sides. I…

  ⋅  1
1 year1 yearbecjarrettdaltonbecjarrettdalton posted:
Finance options for a pool

If it’s affordable - not impossible.

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