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.
Bylands is a locality 50 km north of Melbourne on the Northern Highway, formerly the Hume Highway. It is about midway between Wallan and Kilmore. The origin of the name is unclear. The name was given to an electoral division (1865), a parish and to the Bylands and Glenburnie Road Board, which was absorbed into Kilmore shire in 1874 after a life of 10 years. In 1853 farm subdivisions were offered for sale in the Bylands locality, and in 1858 the settlers succeeded in having a school opened. It was named Big Hill, a reference to the Pretty Sally Hill, about 3 km south, over which the Melbourne to Sydney Road passed. In 1880 the school’s name was changed to Bylands.
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.