YOUR DREAM IS OUR VISION - Your first home finance & new homes partner - NEW HOME INFO PACK - My Vision Board
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
YOUR DREAM
IS OUR VISION
Your first home finance
& new homes partner
1300 653 226 info@myvisionboard.com.au
NEW HOME INFO PACK
NEW BUILDS
START YOUR JOURNEY WITH MY VISION BOARD
WHO IS MY VISION BOARD?
Our mission is to work on behalf of first home buyers to help them secure the home of their
dreams. We have over 15 years of experience with a team of mortgage and new homes brokers
who can help first home buyers find the right home loan, the right builder and the right home design.
The building process can be confusing for a first-time buyer. Our expertise is simplifying this
process to help to get you into your home with ease! During our experiences with first home buyers,
we have found common gaps of information that were missing within the industry. We are here to fill
those gaps to give you a great experience in buying your first home.
A vision board is about setting goals, and one of the biggest goals we have is buying your first home.
Welcome to My Vision Board!
WHY USE MY VISION BOARD? EDUCATION ‣ We are here to educate first home buyers about the process from start to finish. Even though buying your first home can be very exciting, it can come with a lot of stress too, so by understanding the process better, it can help reduce the anxiety. ‣ Our helpful team will keep you well informed to maintain the focus you need to achieve your goals faster. SIMPLICITY ‣ At My Vision Board, we offer a step-by-step process from beginning to end so you know what is expected all of the way. CHOICE ‣ We deal with over 20+ lenders. ‣ Over 10+ high quality builders with over 300+ designs available. NO COST TO YOU FOR OUR SERVICES
BENEFITS OF BUYING A
BRAND NEW BUILD
The great thing about buying a brand new property is that it’s all yours – you get input on the location,
layout and design throughout the whole process. Get that dream home you’ve always wanted!
You’ll also have lower maintenance costs with a brand new property. Most new homes also come with a
6-star energy rating which not only helps the climate, but reduces energy bills.
Plus if you are a first home buyer, an added bonus is the First Home Owner Grant, where the government can
contribute an additional $10,000 or $20,000 to help you get into your home faster!
WE ARE WITH YOU EVERY STEP OF THE WAY
AT MY VISION BOARD, WE HAVE CREATED A SEAMLESS PROCESS
TO HELP YOU NAVIGATE THIS EXCITING TIME IN YOUR LIFE
STEP 1 STEP 2 STEP 3 STEP 4 STEP 5
CREATE CHOOSE YOUR OBTAIN BANK SETTLEMENT BUILD YOUR
YOUR PLAN PROPERTY APPROVAL HOME & LIVE
YOUR DREAM!
STEP 1 CREATE YOUR PLAN PROVIDE INFORMATION TO MY VISION BOARD ‣ Income details. ‣ Employment information. ‣ Assets (e.g. savings, investment properties, shares, gifts). ‣ Liabilities (e.g. credit cards, car loans, personal loans, HECS/HELP). ‣ Two most recent payslips. CONNECT WITH A MORTGAGE BROKER ‣ Confirm your information. ‣ Indicative purchase price. ‣ Indicative loan options, interest rates and repayments. ‣ Cash flow analysis. ‣ Construction process. ‣ Develop plans together and determine timeframes. CONFIRM YOUR QUALIFICATION ‣ Mortgage broker to provide Eligibility letter, which confirms and outlines the package price you qualify for to give confidence to the land developer and builder that you can purchase. ‣ Mortgage broker to provide funding worksheet which breaks down estimated costs to purchase, estimated deposit required and estimate monthly loan repayments. The First Home Owners Grant is used as part of your deposit, reducing the savings you require to purchase
STEP 2
CHOOSE YOUR PROPERTY
MEET WITH THE NEW HOMES BROKER
‣ Confirm your requirements.
‣ Explore options for your first home and visit display homes and/or do virtual tours of potential designs.
‣ Learn about the five stages of the build process.
SELECT LAND AND HOME DESIGN
‣ Purchase land and select builder and home design.
CONNECT WITH CONVEYANCER
‣ Introduction to conveyancer.
‣ Conveyancer to advise of required documents.
‣ Conveyancer to review Land Contract of Sale to ensure everything is okay.
PAY DEPOSIT
‣ Pay deposit to land developer to secure land purchase.
‣ Pay deposit to builder to create contracts and plans.
Sometimes a small deposit is required at this time and the
remainder is required when finalising the build contract
FINALISE BUILD CONTRACT
‣ Meet with builder to finalise colours, specifications and plans to contract.
‣ Sign the contract – there may be variations made in the future. Post contract
variations can be created by the builder, but you will be advised of these in advance!
‣ Pay the remaining deposit.
STEP 3 OBTAIN BANK APPROVAL CONFIRM LAND SETTLEMENT DATE ‣ Confirm land settlement date if within 3 months, to proceed with the loan application. PROVIDE UPDATED INFORMATION ‣ Mortgage broker to review updated information and provide preferred loan options. LOAN APPLICATION ‣ Meeting with broker to go through loan options. ‣ Sign loan application documents. ‣ Application to be submitted to the bank by the mortgage broker. ‣ Valuation to be completed by an independent third-party valuer. PRE-APPROVAL / APPROVAL ‣ If valuation can be completed, loan can be unconditionally approved. ‣ If there are delays with land development, then a pre-approval can only be obtained. FIRST HOME OWNERS GRANT ‣ Upon unconditional approval, FHOG form to be completed and sent to lender.
STEP 4
SETTLEMENT
LOAN CONTRACTS
‣ The bank will send you loan contracts (also known as mortgage documents).
‣ We will connect you with the mortgage broker to go through these documents.
INSURANCE
‣ Building insurance is covered by the builder during the construction process but you will need
to obtain this once your home is complete.
‣ We will connect you with a financial planner to discuss personal insurance options.
this will be the biggest investment of your life, you should always protect yourself
As
in case of injury or loss of life, to ensure you protect your home for your family!
READY FOR SETTLEMENT
‣ Conveyancer to arrange settlement with bank and land developer.
‣ Conveyancer to confirm exact figure you are required to contribute at land settlement.
‣ Transfer your required contribution to the bank account required, to ensure funds are
available for settlement (mortgage broker to confirm account when required).
‣ Depending on the lender, you may need to pay some at land settlement and the
remainder once you start building (mortgage broker to confirm).STEP 5
BUILD YOUR HOME & LIVE YOUR DREAM!
BUILD YOUR HOME – PROGRESS PAYMENTS
‣ Require building permit and certified council approved plans.
‣ Confirm if there are any post contract variations.
‣ As each stage is completed, an invoice will be provided to you by the builder to make payment.
You will need to sign and date the invoice and send to the mortgage broker.
‣ Base stage invoice
Depending on the lender, you may need to make up the
rest of your deposit (mortgage broker to confirm)
‣ Frame stage, lock-up and fixing invoices
– You will only need to send the signed invoice to the mortgage broker.
‣ Final stage
– Connect with insurance broker to arrange your house insurance.
– Builder to provide occupancy certificate and hand over date – once the handover date
is confirmed, we can assist with connection services to your new home.
– Bank will organise an inspection to ensure the house is built as per the plans.
LIVE YOUR DREAM!
‣ Congratulations… the dream of owning your home is now complete!
‣ We will continue to make regular contact to ensure you have a competitive
interest for your home loan and to assist with any future dreams!TAKE THE RIGHT STEPS TOWARD YOUR DREAM
STEP 1 STEP 2 STEP 3 STEP 4 STEP 5
CREATE CHOOSE OBTAIN BANK SETTLEMENT BUILD YOUR HOME &
YOUR PLAN YOUR PROPERTY APPROVAL LIVE YOUR DREAM!
Provide information to Meet with new Confirm land
Loan contract Progress payments
My Vision Board homes broker settlement date
Connect with Select land and Provide updated Congratulations – time
Insurance
mortgage broker home design information to live your dream!
Qualification Connect with
Loan application Ready for settlement
confirmed conveyancer
Pre-approval /
Pay deposit
approval
Finalise First Home
build contract Owners GrantCHECK LIST
STEP 1 STEP 3 STEP 4
CREATE YOUR PLAN OBTAIN BANK APPROVAL SETTLEMENT
Employment & income details Account setup
Two most recent payslips
Assets
Latest three months of bank
‣ Savings STEP 5
statements for:
‣
‣
Investment properties
Shares ‣ The account you get paid into
BUILD YOUR HOME &
‣ Gifts ‣ Savings LIVE YOUR DREAM!
‣ Credit cards
Liabilities ‣ Personal loans Building permit
‣ Credit cards ‣ Car loans
‣ HECS / HELP Council approved plans
‣ Car loans
‣ Personal loans ‣ Investment loans
Post contract variations
‣ HECS / HELP
‣ Zip Pay / Afterpay Payment receipts from builder for
Two forms of ID
post contract variations
Can be: drivers licence, passport,
Two most recent payslips
Medicare card, birth certificate Base stage: signed invoice
Frame stage: signed invoice
Contracts (if not provided earlier)
STEP 2
Lock up stage: signed invoice
CHOOSE YOUR PROPERTY
Deposit receipts (if not provided
earlier) Fixing stage: signed invoice
Land deposit receipt
Final stage:
Build deposit receipts Rental ledger for the last six months ‣ Signed invoice
(if renting) ‣ Build insurance
Land contract (Contract of Sale) ‣ Occupancy certificate
Build contract Completed FHOG form
CELEBRATE!INSPIRATION GALLERY
INSPIRATION GALLERY
1300 653 226 info@myvisionboard.com.au
You can also read
