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.
Deer Park is a suburb of Melbourne, Victoria, Australia, 17 km west of Melbourne’s Central Business District, located within the City of Brimbank local government area. Deer Park recorded a population of 18,126 at the 2016 Census. Deer Park was chosen as the site of Melbourne’s first explosives factory, commenced by Jones Scott and Co in about 1874 and later reformed as Australian Explosives and Chemical Co, then Nobel (Australasia), Imperial Chemical Industries of Australia and New Zealand (ICIANZ) and most recently Orica. The site was chosen for its isolation, as it was several miles from the outskirts of Melbourne.
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.