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becjarrettdalton
312 Posts
Silver Member

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becjarrettdalton

Sydney region
Joined 22 July 2014
Silver Member
20 d20 dbecjarrettdaltonbecjarrettdalton 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…

27 d27 dbecjarrettdaltonbecjarrettdalton 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…

27 d27 dbecjarrettdaltonbecjarrettdalton 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…

29 d29 dbecjarrettdaltonbecjarrettdalton 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,…

1 month1 monthbecjarrettdaltonbecjarrettdalton posted:
Waiting on finance - what do you think?

Fantastic! Congrats! Happy building :)

2 months2 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…

2 months2 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…

2 months2 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…

2 months2 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…

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2 months2 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…

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2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

Yes good point Tom :)

2 months2 monthsbecjarrettdaltonbecjarrettdalton posted:
Bank Valuation Questions

Very welcome!

3 months3 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…

3 months3 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,…

3 months3 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…

3 months3 monthsbecjarrettdaltonbecjarrettdalton posted:
Application Enquiry

Oops sorry - wish that could be better for you

3 months3 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.

3 months3 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…

4 months4 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…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Interest Only payments during construction: Why?

you're welcome, happy to!

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Interest Only payments during construction: Why?

You're very helpful - and wasn't being obtuse, just making sure you got the right answer

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Interest Only payments during construction: Why?

Thats exactly why, plus the repayments aren't easy to calculate (for lender systems) on a P&I basis that changes every month.
Most people have current living expenses (rent etc) and appreciate…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Confused.....

Hi Jono,
Your maths (without looking at a calculator, it's late!) looks to be right in respect of how you're coming to the numbers.
One small spanner in your works -…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Construction Loan with Land Explanation

Hi Lucy,
Usually it's interest only on both the land and the construction loan, but not impossible for it to have been set up differently so double check with your lender.
In…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
Help with mortgage!

Just to confirm you're buying in Canada?

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
First home - How much do I need to save?

You're very welcome and I won't argue with the travel, there's always a right time to get into your first home :)

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
First home - How much do I need to save?

20% is perfect world - in most cases the property values will rise faster than you can get in so I say get in as soon as you can as…

4 months4 monthsbecjarrettdaltonbecjarrettdalton posted:
First home - How much do I need to save?

Congratulations!! Good on you!
Realistically you can get started with a lot less than the 20% you're proposing - and you know that I think. Minimum is around 5% + enough…

5 months5 monthsbecjarrettdaltonbecjarrettdalton posted:
Mortgage broker!

Hi, the best advice I can give you is to ask your friends and family who they've used and if they're happy with the broker. Failing that there are industry…

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Joined homeone
22 July 2014

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