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.
Kings Park is a suburb of Melbourne, Victoria, Australia, 19 km (12 mi) north-west from Melbourne Central Business District, located within the City of Brimbank local government area. Kings Park recorded a population of 8,198 at the 2016 Census. Kings Park was named after the King family whose farm formed of the land the estate was developed on. Kings Road which forms the eastern boundary was also named after the King family and the family farmhouse was located on Kings Road near the current intersection with Grevillea Road. The suburb began as a housing estate within the St Albans 3021 postcode area which eventually became an official suburb with the same 3021 postcodes.
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.