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.
Merricks is a small town in Victoria, Australia in the southeastern Mornington Peninsula between Hastings and Flinders. Its local government area is the Shire of Mornington Peninsula. Merricks was part of the Parish of Balnarring and is believed to be named after an early cattle station owner. It was first settled in 1865 by John Caldwell, who built “Koonoona”, a wattle cottage. Unlike Balnarring and Hastings, Merricks’s early settlers preferred running cattle and sheep to growing orchards. In 1902 a post office opened which was served by Cobb and Co from Crib Point; this closed in 1979. In 1920, a co-operative cool store was built in nearby Red Hill, and from 1921 until 1953, a railway from Bittern to Red Hill traveled through Merricks, although it received little use after its initial decade of service.
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.