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I skipped a few of these while I was waiting for Missus Apathy to pack her carpet bag. So bear with me if it’s rusty.

 

It’s time again for #PINT with SupahMommy!

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It’s Post It Note Tuesday again with SupahMommy!

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A good home needs a good foundation.

Original arrangement with our builder was to start in August. Lucky for us, he’s having a problem with local brick-works supply, so he’s starting on our house earlier! This means that the foundation can rest for longer before they actually start the house. (I didn’t know that the house isn’t actually attached to the foundation, but only rests on it.)

So early tomorrow morning Henk and the builder are going to measure and pen out the foundation. And the neighbour war might just start – one neighbour’s driveway is actually part of our property.

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It’s Post It Note Tuesday again with SupahMommy!

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After giving up on finding financing ourselves, dealing with incompetent bank employees, and wasting time in waiting rooms… we contacted a type of broker.

ABSA (of all places – I left them because of repeated bad service) offered us a 90% loan, which was one of the fairest offers we got. But the broker lady suggeted we wait until all offers returned.

And then we got our ray of sunshine. Standard Bank is willing to give us a 100% loan! At a pretty decent rate. And they accept the bought-and-paid-for empty property as security for a full loan. Bliss! Local lawyers will contact us to come sign the agreement that they’re drafting. Super! No problemo! Right! Right?

More like Not-right-now. We would have signed the document today. But turns out it was set up as if Henk and I are married in community of property. *sigh* we’re not. We did the whole pre-nup/ante-nuptial thing outside community of property.

SO now the bank has to resubmit the request to the lawyers to draw up the contract yadda-yadda-yadda. It’ll take another week at least. Technically we can start building, cause the bank pays out an in 4 installments, the first of which only after the foundation is laid and I tink window sill height. But we’re not going to risk it. Rather wait for ALL the paperwork to be complete.

Here’s to wedded agreements!!

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Surprise surprise, FNB stuffed up our loan application – more precisely, the consultant to whom we went to consult and aid us in applying for a building loan.

Henk phoned the bank and asked what the problem was. Apparently not all the paperwork was submitted (from the consultant’s side) and even though were are pre-approved for a building loan, we have to have 50% deposit. That is not a typo. 50%. If I had 50% of what we are planning to borrow, I would be building my home cash.

Nedbank on the other hand ALSO pre-approved our loan, but for some funny reason they don’t accept the already-paid-for-we-own-it property as security and something or another – Henk doesn’t accept their terms and conditions. Basically comes down to us having to build our house cash.

In the meantime, an assessor from Piketberg came through, on behalf of one of the banks – I don’t know which, I forgot to ask Henk. Point is, he said (the assessor) that the house we want to build is too grand for the area. I wanted to klap someone. Not only is our property on one of the smallest plots in town, you should see the colossal houses in that town. Our plot was part of one big plot, and then the original owner divided it in two. There is already a house standing on the one plot – and get this – It’s cash price is about 40% more than what we are planning to build. If we were in a city, it would be prime property. We are right across the school, walking distance from church and shops. (well, everything is in walking distance.. it’s a small town; besides the point). So I cursed the assessor and his little wannabe-actuary-attitude.

We decided to try ooba. They are like a broker between the Banks and us, and are Experts in Home Finance. Henk phoned their branch in Vredenburg and the lady told him that she knows exactly what we want to do.  She will help us apply for a 100% building loan. We must just submit our docs to her. She will ensure all our paperwork is correct and include us wanting to use the property itself as security.

Today she wanted my Feb pay-slip. Yes, that one. Let’s see how this goes. Wonder if they’ll send a different assessor this time. And with my luck, Standard Bank will approve us.

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We got the plot. We got the plan. Now we need the money. We definitely don’t have the cash, so we gather all relative documents and get ready to humbly grovel on the scotch-guarded carpets of our local banks. Even make appointments: We start with FNB and Nedbank (Yes, I will name them, cause then I get to shame them)

Henk fetches me from work a few weeks ago for our back2back appointments with relative consultants. We get ushered us a creaky staircase at FNB (notice how FNB banks are always in the oldest, museum-y type buildings). We announce ourselves at the little window; gosh, that lady was rude. She asks if the consultant is expecting us. We reply yes, we have an appointment. She looks over to a closed door; says that it looks like there is someone in there with her, we have to wait.

Now, I am sorry but since when is having x-ray vision a pre-requisite to work in a bank?! She didn’t phone to check if there’s anyone in there, but we trusted her judgement – LAST TIME I EVER WILL. And we wait. We wait 20mins. Another customer stumbles up the stairs and insists he is waiting for important documents and wants to see the consultant NOW – presto, no one in the office except the consultant lady herself. Glare-glare mumble-mumble we walk in; only to be told that this is the first time in 12 years at working at the bank that she has to apply for a building loan. We should have turned around and walked out. But we didn’t. We waited patiently while she downloaded the needed paperwork – No, she wasn’t prepared for our meeting. (I was tweeting furiously by then about staff incompetence; cause I like my coffee with a bit of passive aggressive milk in it.). Half an hour of answering questions later, we trek across the road to our next appointment.

At Nedbank the consultant was ready with papers and terms and conditions and advice and a pen. I felt more at ease when she said that she regularly applies for building loads. Our expenses were also more thoroughly discussed and documented. And she understood what we meant by using the plot as security to get a 100% loan.

I had mixed feelings when returning to work. I was excited at this next big-huge step we have taken… but apprehensive at the outcome of our applications.

Why only apply at these banks you ask? Henk and I both have accounts with FNB, so hopefully that counts in our favour. Nedbank is known for good service and competitive interest rates. I’m still boycotting ABSA after my 10 years of loyal service cause they stuffed up a LOT the previous year; and we don’t know anything about Standard bank, so ignorance is bliss.

Now we wait and see if we get some money.

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