Hi mitchiib,
Some lenders can be a bit tricky in the genuine savings space, especially rookie credit assessors so be sure to try and get it escalated if you are…

Hi Psyherin:
I suggest we look at St. George Bank.
The reason is St. George Bank could possibly get a valuation for your before the construction is finished.
You always can refinance…

Hi Lukevl,
As plc stated before there are bridging loans for construction purposes however with the figures you have provide I also do also believe you will struggle if you are…

The LMI will most likely be charged upfront at the first progress payment stage. Its best to check with your lender directly.

Hi First_sale,
I agree strongly with Bec, there is no one perfect one to pay off a loan faster and save interest as each persons situation is always unique.
The best options…

Hi bigdreamer:
Firstly you need to look at what is the percentage of borrowing:
1. If the borrowing is less than 80% of the property price, 14 enquires is not a big…

Rockwall Home is a Sydney based construction firm which we have worked with numerous times in the past few years, from our experience with them they do quite a bit…

Hi Bec,
It is important that you provide the bank and valuer all quotes including floor coverings and try and see if you can include the driveway and landscaping into the…

Hi There,
You can do a land loan first with most lenders with a 5% deposit depending on valuation and then do another one just for the build.
In total it can…

Hi Steve,
Yeah being a first home buyer is hard especially when you aren't sure where to even start.
You generally need a minimum of 5% genuine savings + costs…

Hi,
I would recommend you discuss the requirements of the deposit with your solicitor. It is uncommon to establish a joint account with the builder. There would be some details on…

Hi Leksie
Assuming the bank will have a problem and amending the building contract is not the best way t go ahead.
You should do an up front valuation of the property…

Hi Jands, I would recommend you meet with you solicitor and mortgage broker or to call the bank directly to get a clear understanding of the disbursement of funds. This…

The only variable will depend on your total "as if complete" valuation come construction time. So if you can retain the 20% equity in the land, and if the construction…

Hi Sidds!
Congrats on taking your first step into buying a home.
The lenders will assist with a maximum 97% loan inclusive of Lenders Mortgage Insurance fee.
They will value your land &…

Hi Author,
Considering the purchase was for vacant land and not for a house this should not disqualify your eligibility.
Its always best to contact the office of state revenue to confirm…

Ah this is quiet a tricky predicament indeed...
Property in close proximity (within 100m) to High Voltage Power lines will likely be considered unfavorably by most lenders above 80% and by…

Hi JAC,
Just wanted to check a few things with you:
1. How much are you looking to purchase for?
2. How much is owing on your current property?
3. How much is would…

The main reason that valuations come in low is that the valuer did not find any comparable sales to support the value that you estimated.
However there could be other reasons.…

As slightly Random and PLC aka Tom was saying, there are some lenders that do lender 95% and allow to include LMI in total 97%LVR. However it does depend on…

Most of the time you need to complete SLAB stage in construction before the FHOG can be paid by the government so it may become an issue.
The equity will not…

Any one who is 18 years and over and is not related to you can witness your signature.
In regards to the contract, it depends on which state where you…

Yes it would make sense to wait. The grant is based on the date the contract was signed. You may be able to work something out with your builder such…

That's terrible, sorry to hear that. It does happen occasionally that builders do things like this, however most builders are excellent.
Normally builders squeeze people with any changes to the…

Yes this is considered as rent as genuine savings as long as you have made your payments on time for the last 12 months.
However you still need to have a…

Yeah ok I see what has happened. This is a new area and it looks like it has been given a new postcode.
QBE LMI considers this to be Metro (i.e.…