I'm writing this after 3pm, I guess we are officially land-owners now. My mobile rings, its our solicitor -
Ok, you're all settled now, he says. You are now in the game!Terrific! We are now the proud owners of an area of dirt we will be spending the rest of our lives paying off :) Isn't ownership a wonderful thing?
He will be sending us a report letter later this week confirming the settlment details.
Our first mortage payment, a partial payment is due next week. I hope the Reserve Bank is kind to us for the next 30 years. As long-term renters, we paid little attention to what happened with interest rates, how things change when you have a stake in something.
So, Phase 1 is complete.
I called my lender a few minutes ago. He said he will send our application to extend along with the tender for valuation tomorrow morning. Hopefully by the end of this week, at the latest, we should hear whether we have an unconditional approval for this phase. Once we receive the documentation confirming an unconditional approval, we will arrange a meeting with our builder.
I hope Phase 2 runs a little smoother than the first phase. Wishful thinking?
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