this post was submitted on 14 Jun 2025
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Uber driver gave me a crash course in mortgages and how to buy a place before the end of the year. Gave me some recommended builders as well.
And that's why I talk to pretty much everyone lol
Also....
Thornbury Witch has given some very good advice. Also be aware, that if you don’t currently meet the deposit/income criteria for a mortgage from a regular bank, you will certainly not be getting a better deal elsewhere. Because of the high risk to the lender they will charge higher interest, fees etc. It will cost you a lot more. Best to save more deposit. There is nothing wrong with renting if means you can live comfortably and not be mortgaged to the eyeballs stressing over every dollar. I’ve never built new so I don’t know anything about finance + build schemes, but I would be too uncomfortable. Are there kickbacks to the builder? What’s the fine print? What recourse do you have if there’s problems with the build? I would feel much safer with a regular bank loan.
I appreciate your advice :)
I wouldn't borrow if the bank wasn't going to lend on my current salary.
That's a convo with the bank this week.