Friday, September 19, 2008

At a standstill.....

We are waiting, waiting, waiting for the bank to come through with our bank approval. It looks like what was a while ago agreed to, is now null and void, and we have had to apply for the house loan approval again...only to come up short! We are a week over our "date" of 11 Sept. and the bank is saying that our current house valuation is now not enough. We are risking the house price-rise if this is not finalised soon, (like today!!) and have to pay the house deposit of $12k ourselves...this is the only way we can get the loan, without mortgage insurance (getting that would mean a lengthy hold-up while they re-do the loan with the added amount in it and we haven't the time.)
The thing that annoys me the most is that we asked the bank first how much we could borrow before even looking, that way it allowed us to not look at houses/designs that were out of our budget and to keep upgrades minimal so there was not a lot of the back and forth between builder and bank.
On the plus side we did get our building approval from the council yesterday, haven't seen what "stormwater" system the builder has put in on the application yet, I think they used a soakwell...hope we can just eliminate that, but will have to talk to council first. That is to be done after hand-over anyways by us, so plenty of time to figure what we will do.

I hate this waiting, but what can you do?

Tuesday, September 2, 2008

A little closer now...

We have been out to the block and we have a tap...hurrah! :) Who would have thought that something so little would get me all excited. While out at the block, we have discovered that we are not the first to start building either. :( LOL! The block next to ours already has its brick-work started, (and has a whole heap of dirt half of which is piled on our block) at least 3 other places have their slab and a couple have their taps/electricity boxes. We said "howdy" to a.... I guess I can call him a 'neighbour' that is building just up the street from our block. He was walking around on his slab, lucky thing.... but I guess soon enough it will be us doing the same thing too. We haven't met the people building next to us yet... I already feel sorry for the poor people who have to live next to my brats kids!!
Some good news too...the bank has approved the loan...again... and our financial advisor got stuck into them for taking so long, so the bank...bless their corporate heart... has decided to start the 12 month bridging loan from this loan approval rather than the first one for the land. So that gives us the 3 months back, which is great. :) Hopefully that means that we may even be able to move into the new house before selling this one, which, in turn, means that we wont have to find somewhere to rent between selling and end of building.

Only thing we need to figure out now is schooling for next year.....