What you pay while you're building your brand new home

Buying land and building a home in NSW follows the following rough schedule and here’s what you can expect to pay as you’re building. (PS we have also formulated a brilliant quick look factsheet you can access from our members only section on the website - just jump into http://www.tworedshoes.com.au/building & click on members only to register for access.) When you find the block: Holding deposit to secure the block, either a flat fee – say $1000, or 0.25% of the purchase pric. Once you’ve paid this get the contract over to us and we’ll get full approval in place before you pay anything else. Balance of the 5% or 10% deposit – and what we call “exchange”, generally 5-10 days after you sign

What is special about a ‘portable loan’?

Most lenders offer portability with their home loans, but what does that actually mean? If your loan is portable it means you can change the security for the loan without having to go through the whole credit process again - providing you meet certain conditions, the 3 main things being: you don't need to increase your loan amount, secondly that the loan you need is not more than 80% of the value of your new security and thirdly that the sale and purchase settle on the same day - or your purchase can settle within a few days AFTER your sale in a lot of cases. (On this final point, an issue can come up where your loan is now a higher percentage of the value of your property, to explain – lets

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We recommend that you seek independent financial and taxation advice before acting on any information in this website or blog. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs.

 

We recommend that you consider whether it is appropriate for your circumstances.

 

Your full financial situation will need to be reviewed prior to acceptance of any offer or product.

 

Interest rates are subject to change without notice. Lenders terms, conditions, fees & charges apply.

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Two Red Shoes Copyright © 2020 All rights reserved. Call on 02 9002 0380, 0404 494 929, email us  or 'old school' fax 02 9002 0381

Jarrett Group Pty Ltd atf Jarrett Group Discretionary Trust trading as Two Red Shoes hold Australian Credit Licence No: 428614 and are members of an external dispute resolution scheme. Details of our complaint resolution process can be found here or please see our credit guide. All information contained on this site is general information only, and does not take into account your particular financial situation or needs. You should consider your personal objectives, financial situation along with the recommendations of your trusted advisors.

Sydney mortgage broker operating in

  • The Hills District

  • Hawkesbury

  • Nepean 

  • North Shore

  • Penrith

 

  • Camden

  • Baulkham Hills

  • Lower Blue Mountains

  • Parramatta

  • Hornsby

 

  • Windsor and Richmond

  • Rouse Hill

  • Hunters Hill

  • Gladesville

  • NSW Central Coast too!