It is essential to attach all the required documentation with the application to boost your chances of loan approval. The lender will lookout your savings, investments to make sure you are in the position of repayments. Moreover, further documents like a fixed price building contract, building plans approved by the council, and a copy of the builder’s license will be needed.
Once your construction loan is approved, our professional will let you know and give you funds in a series. After considering the building process outlined in your building contract, these milestones will beset us.
Before making the last payment on your builder’s account, the lender will check the property and ask for a few more documents to complete the verification and final valuation of the building. After the payment, the loan will switch to standard home or loan packages according to your requirement.
Now you are all set. With our outstanding services, you can freely make your decisions without worrying. It’s time to get off the ground and celebrate the brand new house with your friends and family.
Ballarat East is a suburb of Ballarat in Victoria , Australia . From 1857 until 1921 the suburb had its own council . The suburb covers a large area east of the city centre. It is the oldest urban area in Ballarat and was the site of many goldmines, as well as of the Eureka Rebellion .The population of Ballarat East at the 2016 census was 5,628. The former town retains much of its shambolic character, particularly its winding, unplanned streets, which arose organically among the many gold mines.Much of the suburb is subject to heritage protection because of its local historical significance, with many dwellings dating from between the 1860s and 1940s.
There is always a need to look for a broker who has held an Australian Credit License or Credit Representative status, which is a requirement of the Australian Securities and Investments Commission (ASIC). In addition, for more assurance, ask the broker if he is a member of the industry body – the Mortgage and Finance Association of Australia (MFAA).
According to new data compiled by the Mortgage & Finance Association of Australia (MFAA), mortgage brokers are earning an average of $142,000 per year before costs.