Hi All
Back in May 2007 I saw a block of land close to the beach and thought would be nice place to build down the track.
I was only on $35k a year and couldn't get a loan for the full amount. Parents have a few investments properties with a broker so had get some help. On the loan I was down as 99% and my dad 1%.
I put down a $55k deposit and had a loan for remaining $180k. I am now in a position to build but worried I am no longer entitled to refund of stamp duty and $21k builders grant.
Would I have to get my dad's name removed from mortgage or refinance? Not sure what options I have.
Cheers
Dan
Back in May 2007 I saw a block of land close to the beach and thought would be nice place to build down the track.
I was only on $35k a year and couldn't get a loan for the full amount. Parents have a few investments properties with a broker so had get some help. On the loan I was down as 99% and my dad 1%.
I put down a $55k deposit and had a loan for remaining $180k. I am now in a position to build but worried I am no longer entitled to refund of stamp duty and $21k builders grant.
Would I have to get my dad's name removed from mortgage or refinance? Not sure what options I have.
Cheers
Dan
