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.
Wendouree is a large suburb on the north western rural-urban fringe of the city of Ballarat , in Victoria , Australia . It is the most populated suburb in the City of Ballarat with a total of 15,000 inhabitants living in the greater Wendouree, Lake Gardens and Miners Rest area. It is named after nearby Lake Wendouree , which derives its name from the Wathaurong word wendaaree, meaning “be off” (or “go away”). It incorporates the unofficial locality of Wendouree West. Wendouree has the second major commercial and business hub in Greater Ballarat, and is also the location of several Ballarat-based commercial and industrial firms.
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.