As my land is not due to be titled until slightly after my HA pre approval expiry has anyone had any luck recently leaving the scheme and rejoining to restart the countdown preferably with the same bank
Thanks in advance !
Now that the cash rate is up and the budget is out, any news about the indexation the help to buy is supposedly meant to receive in terms of increasing income caps for eligibility?
Hi,
I found that the deposit required at contract of sale is about 5-10% of the property value.
Since with HTB, we will only have 2% ready. So how does this work?
Can someone please explain the process of valuation for a new build? Context, I am building and have just signed a sales contract on the land. Is there anything I need to look out for when building that can/will affect this?
As above… the FAQs and clauses say general statements about requiring house insurance under the scheme. If you buy an apartment/townhouse/villa with strata, do you still need that? Double coverage in a sense? Or nah?
My wife and I just had our first child. Were sick of renting so moved in with family to funnel all money to saving for the house. Currently at 20k, looking to go for 750k house and land. Separate contracts. But not doing this until around July when her maternity leave ends. Commbank said that help to buy won’t be possible while she’s on maternity, weird.
With the 750k, it’s above the stamp duty exemption. But given that the scheme says 2% is the minimum. How do people go about stamp duty? Given that it’ll approximately be 40k? I spoke to my broker and he said he couldn’t help because the help to buy is out of his purview. Any help would be appreciated.
Hello just wondering, if I sign the contract tomorrow but my settlement will be after my approval expiry will this be ok?
Hey all, looking for advice as another nervous HTB applicant.
I signed a contract for a place last week while my CBA lender was on leave, he got back to me yesterday (Monday) and sent me the loan documents which I’ve signed and setup a shortfall account.
The lender mentioned that it takes 14 days to get HA approval because it’s “the government”. I rung HA today and they told me they haven’t received anything from CommBank yet since an internal team hasn’t processed it.
My finance clause is over in just under a week and I’d love to have HA sorted before then so I can be at ease, anyone have a similar experience or advice on timelines/action?
UPDATE: Not even an hour after posting this I received final approval from HA, just waiting on their conveyancing documents.
Just purchased some land which will settle in a bit over a month. We have started the build process with our builder a couple of weeks ago and we’re about to have the colours appointment this month. Land has a 21 days finance clause on it. Has anyone had issues with getting plans, contract etc to the CBA in time for them to do the valuation before the finance clause ran out on the land or their HA expiry?
Did a bit of overtime this financial year... Surely they'll overlook just 5k?
Has anyone submitted a home renovation valuation request to HTB and what was the turnaround time? How does this all work and besides a quote from contractors what else do we need to submit as supporting evidence?
I’m booked in for a contract signing day in a little over 1.5mo. Are usually sent the contract in advance to review? This seems like a bit of a red flag if not.
This is the verbiage in the email
Please ensure you are available for this important appointment so your Contract Presenter can efficiently guide you through the process.
The balance of your deposit will be required on the day;
Please find attached a copy of the standard HIA Contract.
We encourage you to review this document carefully before your appointment, so any questions you have can be addressed during the signing.
This version is blank, but your signed contract will be tailored with your specific details.
I just wanted to post a question to see if anyone has dealt with it. I got a new broker who’s a relative expert. I just think I need confirmation that someone else has had the experience on reddit haha.
Given that the scheme and bank both have approval processes, we have locked in a block of land that is amazing for end of September with settlement for end of October, because this block of land has fallen through before for others, they gave us subject to finance, which my broker said it rare for such a long timeline.
My wife is currently on maternity leave and will return to work in August. Bank wants her back at work for 3 months. This has me worried as it’s such a tight timeline. Broker seems positive it’ll be fine.
How likely is a delay here? And if anyone has dealt with it, are land developers open to extensions generally, if finance takes longer than expected? I guess I’m just worried