If we provide you with execution-related telephone advice, we will also follow up with an email, which clearly outlines the mortgage advice provided.

It is not hard to maintain a clean credit file.

You can easily do this by following some of the basic processes mentioned below:

• Paying bills on time. An overdue account is usually a debt that has been owed for a minimum of 60 days

• Ensure you call your credit providers and alert them if there are any problems meeting your financial commitment

• Review your credit file to ensure there are no errors recorded and also to discover any overdue account that has been forgotten about. An Update Form is available to request corrections

• Monitor your credit file for any frauds incurred using your identity

• Do not make too many applications for unsecured finance. Each one shows up on your credit report and multiple enquiries can be an issue for some lenders

• Details on overdue accounts, even when paid, remain on file for five years from the date of listing, as part of your credit history

• Residential home loans: no fee payable by the client
• Commercial loans: Intellichoice will charge the client a mandate fee, based on the complexity of the service required. These fees will be quoted to the client
• Financial planning: Intellichoice will charge the client a mandate fee, based on the complexity of the service required. These fees will be quoted to the client

Your mortgage broker will be able to provide you with more details during the initial interview.

We have access to over 35 mortgage lenders and 800 home loans and mortgage products. The mortgage brokers at Intellichoice is on hand to provide you with a financial product that suits your specific needs and circumstances. We research all the various mortgage lenders and home loans and mortgages to identify the best deals for you, thus saving you time and eliminating the hassle of shopping around with other mortgage lenders.

You can be assured that any finance solution that we recommend is in your best interests and will be explained in plain English with honesty and clarity. Best of all, our services are free. To find out how we can help you with your home loan, business loan or mortgage loan, speak to our mortgage brokers today on 1300 55 10 45.

If you use a mortgage broker to get your home loan, you will receive a complete service. 

Firstly, we can give you an idea of which mortgage lenders you will qualify for and then we can help you find the best home loan offered by those mortgage lenders. This prevents you from tarnishing your credit record by applying at many mortgage lenders who subsequently reject your loan application.

Once you decide on a mortgage loan, we help you complete the loan application and compile the supporting paperwork required. We then send it to the mortgage lender and deal with them right up to settlement. This means you do not have to wait on any bank telephone queues because we will do it for you.

There are many advantages to using a mortgage broker from Intellichoice:

• The mortgage brokers at Intellichoice take the time to educate and provide a clear direction for you to move towards in a hassle-free and jargon-removed manner

• We pride ourselves in providing personalised and exceptional quality service starting from the initial interview and beyond the final approval of the application

• We ensure that your needs are addressed and most importantly, you are fully informed every step of the way

• We keep you informed with the current trends in the financial industry

• New financial products are continuously being released; we provide the opportunity for you to learn about these to make an informed selection

• We provide an annual home loan health check to ensure that your current home loan is still the best deal for you based on your current financial circumstances.

If you need a home loan, business loan, personal loan or owner builder finance, speak to one of our mortgage brokers now on 1300 55 10 45.

Intellichoice is also a member of the Mortgage & Finance Association of Australia (MFAA) and the Credit Ombudsman Service Limited (COSL).

We are committed to implementing and promoting a Privacy Policy, which will ensure the privacy and security of your personal information.

If you wish to examine your file please ask us by calling 1300 55 10 45. We will be happy to make arrangements for you to do so.

You have the right not to tell us, if you do not wish to. However, if you do not, the financial advice you receive may not be appropriate to your needs, objectives and financial situation.

• Personal information

• Credit applications and enquiries made during the past five years

• Current credit account

• Overdue accounts (defaults) including an indicator on whether the default amount has been paid

• Bankruptcy information

• Default judgments

• Public record information

A mortgage broker is a person or organisation offering home loans and mortgage loans from an approved panel of mortgage lenders. The mortgage brokers can select the best home loan or mortgage loan for a borrower, and then manage dealings with the mortgage lender on the borrower's behalf until the loan is established.

The mortgage brokers at Intellichoice have access to over 35 mortgage lenders and 800 home loan and mortgage loan products. We will compare all home loan products and find a mortgage loan to suit your needs and circumstances. To find out more about our services and financial products, call us on 1300 55 10 45

Intellichoice can also offer financial plans, including various investment options, superannuation, insurance, business and asset planning, salary packaging, debt management and budgeting.

A mortgage broker will be able to provide you with more details on the various financial services we offer. If you would like more information about Intellichoice and how we can assist you with your home loans, business loans or invoice financing needs, speak to our mortgage brokers today on 1300 55 10 45.

If you have any complaint about the financial or home loan service provided to you, you should take the following steps:

• Contact Intellichoice and inform your mortgage broker about your complaint
• If you do not get a satisfactory outcome after 45 days, you have the right to lodge a complaint to the Financial Industry Complaints Service (FICS). Please download a FICS Complaint Form from www.fics.asn.au and complete it according to the instructions and the information outlined in the document Important Information About Lodging a Complaint. You can contact FICS on 1300 780 808 if you need help completing the form or require any other assistance. The completed FICS Complaint Form and copies of any supporting documents, including details of how the amount of your claim has been calculated can be mailed to:

Financial Industry Complaints Service
PO Box 579
Collins Street West
Melbourne VIC 8007

Please note that this form cannot be lodged with the FICS electronically.

We offer a wide spectrum of unique and creative financial services so you can take advantage of any opportunities that arise in life. Whether you are looking for a home loan, invoice finance, bad credit home loan, personal loan, small business loan or owner builder finance, an Intellichoice mortgage broker will work with you to help you achieve your personal goals.

With access to over 35 mortgage lenders and 800 home loans and mortgage products, a mortgage broker from Intellichoice will help find a financial product that suits your needs and circumstances.

The mortgage brokers at Intellichoice have over 30 years experience in providing exceptional and professional quality customer service. We take the time to educate and provide a clear direction for the client to move towards, in a hassle-free and jargon-removed manner. We ensure that your needs are addressed and most importantly, you are fully informed, every step of the way.

For your peace of mind, the mortgage brokers at Intellichoice are accredited with two of the largest licensees in Australia, which regulate ethical and professional codes of conduct in the finance industry.

To qualify for the First Home Owners Grant you must answer yes to all of the following questions:

A. Are either you or your co-applicant over 16 years old and an Australian Citizen or permanent resident?

B. Are both you and your co-applicant natural persons (ie: not a company or trust)?

C. Is this the first time you or your co-applicant will receive the First Home Owners Grant in any state or territory of Australia?

D. Have you or your co-applicant never owned a residential property, either jointly or separately or with another person before July 1 2000, in any state or territory in Australia?

E. Have you or your co-applicant never owned and occupied a residential property, either jointly, separately or with another person, on or after July 1 2000, in any state or territory in Australia?

F. Will either you or your co-applicant be occupying the home as their principal place of residence within 12 months of either the settlement date or completion of the construction?

G. Has each applicant:

• Entered into a contract for the purchase of a home on or after July 1 2000 or

• Signed a contract to have a home built on their vacant land on or after July 1 2000; or

• In the case of an owner-builder, commenced laying of foundations of a home on their vacant land on or after July 1 2000.

Each state in Australia has different policies, procedures, grants, eligibility criteria and processes when it comes to First Home Buyers, so it is best to go to the government sites mentioned below for more information:

• NSW: www.osr.nsw.gov.au (02 9685 2122)

• VIC: www.sro.vic.gov.au (03 9628 6777)

• QLD: www.osr.qld.gov.au (07 32278733)

• WA: www.dtf.wa.gov.au (08 9262 1400)

• SA: www.revenuesa.sa.gov.au (08 8266 3750)

• TAS: www.treasury.tas.gov.au (03 6233 4976)

• ACT: www.act.gov.au (02 62070029)

• NT: www.nt.gov.au (08 89996683)

Yes, foreigners are permitted to own property in Australia provided the property for sale has been approved for sale to overseas buyers by the Foreign Investment Review Board (FIRB). You can check out the FIRB website for more details on http://www.firb.gov.au/. At Intellichoice, we understand that it can be stressful buying a property when overseas and you may not have the time to fill out forms. That is why all our properties are FIRB approved, so you can start owning your own home faster!

Speak to one of our property and mortgage consultants on 1300 55 10 45 for more information on the various real estate developments we have available in Australia, including Brisbane, Gold Coast, Sunshine Coast, Sydney, Perth, Melbourne, Cairns and Palm Cove. We will have a property to suit your needs and requirements.

If you need a home loan, investment loan, debt consolidation loan or would like to refinance an existing mortgage, rest assured that we can help you irrespective of your credit history. We will do all the legwork and research on the various home loans and mortgage loans products available from our panel of approved mortgage lenders and find a home loan that suits your needs and circumstances. The mortgage brokers at Intellichoice understand that everyone is different and come from a variety of backgrounds that might not fit the mould of traditional mortgage lenders. As a result, we have available a range of bad credit home loans, non conforming home loans, low doc home loans and bad credit car loans that are tailored to your unique situation.

If you would like more details on our bad credit home loans and low doc home loans, speak to a mortgage broker on 1300 55 10 45.

Your borrowing power depends on a number of factors such as home loan value ratio, income and types of income (casual vs full-time), other mortgage loans (for example personal loans, car loans or other home loans), credit card limits, home loan terms, number of dependants and their situation, home loan products, tax rates and rental income.

As a rule of thumb, most mortgage lenders will draw the line at allowing your repayments to be no more than 40% of your gross income. All of the mortgage lenders have a different assessment policy. If you want a more accurate guide, please speak to one of our mortgage brokers on 1300 55 10 45.

You can also use the borrowing power calculator for an indication of your borrowing capacity.

Many of our clients choose to refinance their home loan or investment properties because their circumstances change. For example, you may be:

• Starting a family

• Moving house

• Seeking to renovate

• Getting married

• Retiring

• Or simply reviewing your financial position

Mortgages are often the single largest outgoing each month and refinancing can help:

• Reduce your mortgage: you can save thousands of dollars and possibly halve the term of your home loan

• Consolidate your debts: relieves some of the pressure of higher interest rates from personal loans and credit cards

• Provides more flexible finance options: utilises the existing property equity for other purchases such as renovations or a holiday. (This should be approached carefully so as not to detrimentally impact the equity in your property).

In summary, a successful refinance will deliver to you savings which substantially exceed the associated costs. For more information on refinancing your home loan and whether this is the best option for you, speak to a mortgage broker on 1300 55 10 45.

If you are a (PAYG) employee, you will need:

• Bank Statements showing your saving history for the past 6 months (including term deposits)

• Two most recent Pay slips or Group Certificates for the past 2 years

• Originals (& copy) of 100 points ID Check

» Passport with photo - (70 points)

» Current Drivers License - (40 points)

» Credit Card, Medicare Card, Utilities Bills in your name - (25 points)

• Evidence of shares and other investments

• Contract of sale/purchase for the property if available

If you are self employed, you will also need:

• Last two year's figures

• Personal and Business Tax Returns

Other circumstances - additional information:

• Investment property - lease, rent appraisal or evidence of receipt of rental income

• Re-financing - past 12 months statements for existing loan(s), copies of rate notices and insurance policy

• Building - provide a copy of plan, specifications and builder's tender

When you apply for a Home or Investment loan you may incur fees for, but not limited to the following:

• Establishment of the loan

• Land Title search

• Stamp duty on the mortgage

• Registration of the mortgage

• Lenders mortgage insurance (LMI) - if you have less than 20% equity in the property

• Depending on the amount borrowed and value of the property a valuation may be required

• Stamp Duty on Registration*

• Stamp duty on Transfer*

• Other costs

• Conveyancing costs

• Building insurance

* Only applies if purchasing a new property or construction of a new property

Contrary to what many borrowers may think, Lenders Mortgage Insurance (LMI) DOES NOT protect the borrower should they be unable to make mortgage repayments. Instead, LMI protects the mortgage lender from any losses resulting in the sale of a property due to default by the borrower.

LMI premiums are payable by the borrower when the amount borrowed is above a certain percentage, usually 80% of the lender's valuation of the property. Some mortgage lenders will allow you to add the LMI premium to your home loan whilst others require you to pay it up-front.

Negative gearing involves using a home loan to purchase a property and then renting that property out to make an income.

The property is considered negatively geared when the income generated from the rental does not cover the costs associated with running the property and the interest on the home loan used to buy it. Any losses incurred during this process are tax deductible and can then be offset against other assessable income and boost returns. The profit occurs when the value of the property goes up over time, resulting in capital gains outweighing the losses incurred during the negative renting period.

Positive gearing is when the rental income received is greater than the total amount of the expenses, including interest rate repayments and maintenance expenses, taking into account your rental yield and tax breaks. Also, if the property was built after 19 July 1985, you may be entitled to depreciation allowances that will enable you to claim "paper losses" to reduce your taxable income.

Positive gearing relies on the rent being high in comparison to the purchase price of the property. The benefit of a property that generates cash flow is realized when you sell the investment property sometime in the future. This is because you won't have to subtract the losses incurred over the life of the investment, as is the case with negatively geared properties.

For more information on this issue you should seek the advice of a financial planner or qualified accountant with experience in property investment.

Settlement is the completion of the sale, when the borrower takes possession of the property and the mortgage takes effect.

Settlement usually takes place 4 - 6 weeks from the date the home loan is formally approved.

State tax paid by the purchaser, calculated as a percentage of the sale price of a property.

To find out more about the stamp duty you will need to pay on your property, use the stamp duty calculator as a guide. For more details on stamp duty and other fees payable when you buy a property in Australia, speak to the mortgage brokers at Intellichoice on 1300 55 10 45.

A fixed rate home loan is where the interest rate is fixed for a period of time, for example between one and five years. At the end of the fixed term, the loan reverts to a variable rate.

A variable rate home loan is where the interest rate varies depending on market conditions.

Speak to a mortgage broker on 1300 55 10 45 for more information on the various home loan types. An Intellichoice mortgage broker will also help research all the various home loan types and recommend a mortgage loan that suits your needs and circumstances.

Finding the property that is right for you can be a stressful process. There are many different factors to consider and investigate, such as the size of the property, the type of home you're looking for (unit, townhouse, house), location, price range, security, available parking, nearby transport, amenities and facilities (doctors, shops, hospital, schools and universities).

We have a wide range of property developments all around Australia, so please do not hesitate to speak to a mortgage and property consultant at Intellichoice for more details on how we can help you in your search for your next property. We have a huge variety of apartments, houses, townhouses and house and land packages in Brisbane, Gold Coast, Sunshine Coast, Melbourne, Perth, Sydney and Cairns. Speak to a property consultant on 1300 55 10 45 and let us help you find a property that suits your needs and requirements.

Depending on what is most appropriate for you and your borrowing power, you can choose from Standard variable loans, Basic variable loans, Discount Variable/Honeymoon, also known as Introductory loans, Fixed rate loans, Combination/ Split loans, Line of Credit/Equity Loans, Low Documentation loans, No Documentation loans, Non-conforming Home Loans and No deposit Home loans.

Don't worry if you do not conform to a traditional bank's strict lending criteria. We have alternative home loan products, such as low doc home loans, bad credit home loans or non-conforming home loans that can be tailored to your unique situation.

Your mortgage broker will be able to provide you with more details during the interview. You can be assured that any home loan product we recommend is in your best interests and suits your needs and circumstances.

Most people do not realise the differences between mortgage lenders. Not only are their home loan offerings different, but their lending guidelines and assessments are also different. The mortgage lender you apply to may not be suited to your borrowing needs.

In order for a mortgage lender to determine whether or not you can afford the mortgage loan (serviceability), some use your after tax income, while others use before tax income. Some mortgage lenders add back interest paid for investment property (as they are tax deductible), while others don't. Some use a fixed amount per dependent in their calculation, while others use a percentage of all household income. On top of all that, most banks do not use the actual interest rate when calculating the serviceability, rather they use a "loaded" or "assessment" rate.

Not only is the ability to pay important, the security (property/ies to be mortgaged) offered also plays a factor.

Not all mortgage lenders are created equal. By checking with your mortgage broker who has access to over 35 mortgage lenders, you'll save time from having to check with all the mortgage lenders to see what their serviceability criteria are. Speak to a mortgage broker on 1300 55 10 45.

You may be exempt from completing the owner builder course if you:

• Hold a current BSA licence

• Hold a qualification that meets the minimum technical qualification for any BSA licence (not including interstate licences)

• Have a current Interstate builder or trade contractor's licence

You may also be exempt from completing the owner builder course if you are any of the following professions:

• Civil Engineer

• Architect

• Building Surveyor

• Assistant Building Surveyor

• Building Technician

• Quantity Surveyor

• Electrician (not including restricted licences)

• A qualification that would entitle the applicant to one of the above professions

The Home Building System does not handle any money.

At Intellichoice, we believe that anyone can be a successful owner builder, as the Home Building System provides you with the project management tools to complete the building/renovation of your home. To find out more about the owner builder system and how the mortgage brokers at Intellichoice can also assist with owner builder finance, call 1300 55 10 45.

No, there are certain areas that must be carried out by suitably qualified or appropriately licensed tradespeople, for example:

• Design

• Plumbing

• Electrical

• Drainage

• Gasfitting

• Waterproofing

• Pest-termite proofing

There are other areas that we strongly recommend that you do not attempt yourself, unless you have considerable experience and/or relevant qualifications or assistance, for example:

• Roofing

• Bricklaying

• Concreting

• Rendering

Yes, but this will depend on the state you are in and the total cost of the work. Please check the relevant Owner Builder Legislation in your state.

QLD

Applicable Building Legislation

• Queensland Building Services Authority Act 1991 (As amended 01.10.99)
• Building Code of Australia 1996

Owner Builder Requirements Summary

• A person or entity who owns land is able to undertake the construction, management or supervision of the works as an owner builder as-of-right, providing you have not undertaken other owner builder work within the last 6 years.

• You are required to obtain an Owner Builder Permit from the Building Services Authority for all woks valued at over $6600

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• Owner builders must undertake an education course through an accredited provider if the proposed works exceeds $11,000 in value.

• There are currently no restrictions on the number of projects (dwellings) that an owner can sell, subject to including the prescribed warning on the contract of sale.

• Owner Builders are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety.

• Contractors who are engaged by an owner builder, are required to be licensed where their work exceeds $1000 in value.

• A Portable Long Service Levy exemption is required prior to lodging the application with your local council.

• Visit: http://www.bsa.qld.gov.au

NSW

Applicable Building Legislation

• Home Building Act 1989 (As amended) commencement date (01.07.97)

• Home Building Regulation 1997 (Inception date 29.08.97)

• Environmental Planning & Assessment Act 1979

• Environmental Planning & Assessment (Amendment) 1997

• Local Government Act 1993 Amended 1997

• Building Code of Australia 1996

'Owner Builder' Requirements Summary

• A person or entity who owns (or shares ownership, or has a leasehold interest exceeding 3 years in the) land is able to undertake the construction, management or supervision of the works as an "owner builder" as-of-right, providing you are over 18 years old, intend to live in the home, and have not undertaken other "owner builder" works within the last 5 years (except in special circumstances).

• An applicant for an "Owner builder" permit must have completed an approved "Owner builder" education course or training if the market value of the project exceeds $13,000

• "Owner builders" are required to obtain an Owner Builder Permit from the Office of Fair Trading ($132 fee), if the works exceed $5000 in value and require a Building Approval from the Council.

• "Owners builders" should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• "Owners builders" are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety.

• All contractors who are engaged by an owner builder, are required to be licensed where their work exceeds $200 in value.

• Licensed contractors engaged by "Owners builders" must use written building contracts that comply with the legislation if their work costs more that $1000 and supply home warranty insurance to the owner builder, prior to commencement of work, so that the owner builder (as a consumer) is protected against non-completion or defective workmanship by the contractor where value of the contracted works exceed $13,000.

• Contracts that are required by the Home Building Act can be obtained from the Office of Fair Trading. Visit www.fairtrading.nsw.gov.au for more details

VIC

Applicable Building Legislation

• Building Act 1993 (Inception date 01.07.94)

• Building Amendment Act (2004)

» Owner Builders must obtain a Certificate of Consent from the Building Practitioners Board in order to obtain a building permit to carry out domestic building work valued over $12,000

» Owner Builders may only obtain building permit for a single dwelling and associated work on a single property in any three-year period

» Co owners of the land are also unable to build in any three-year period

• Building Regulations 1994 (Inception date 01.07.94)

• Domestic Building Contracts Act 1995 (Inception date 05.12.95)

• Building Code of Australia 1996

Associated/Subordinate Information

• Ministerial Order S82 dated Monday 20 May 2002 covering domestic building insurance (supersedes S122)

Owner Builder Requirements Summary

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• Owner builders are responsible for complying with all other relevant legislation, including Workers Compensation, Occupational Health & Safety & Domestic Building Contracts Act.

• Need to obtain a Certificate of Consent from the Building practitioners Board in order to obtain a building permit to carry out domestic building work where the cost is more than $12,000

• Can only obtain a Certificate of Consent if they have not been issued with a building permit to carry out work as an owner-builder in the previous three years. The exception to this is where the permit was in relation to, or ancillary to the dwelling on the same land that the application refers to

• Must reside and continue to reside, or intend to reside in the single home

• Must be the owner (Registered Proprietor on Title)

• Visit: http://www.buildingcommission.com.au

SA

Applicable Building Legislation

• Building Work Contractors Act 1995 (Inception date 01.06.96)

• Building Work Contractors Regulations 1996 (As amended)

• Building Code of Australia 1996

Owner Builder Requirements Summary

• A person or entity who owns land is able to undertake the construction, management or supervision of the works as an owner builder as-of-right.

• There is no requirement to be licenced as an owner builder with any State Government body.

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• Owner builders are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety. The project owner is also required to pay the Construction Industry Training Levy and forward a copy to the relevant authority.

• Contractors who are engaged by an owner builder, are required to be licenced, and where their work exceeds $5000, must use domestic contracts that comply with the legislation & supply warranty insurance to the owner builder, prior to commencement of work, so that the owner builder (as a consumer) is protected against non-completion or defective workmanship by the contractor.

• Visit: http://www.ocba.sa.gov.au

WA

Applicable Building Legislation

• Building Registration Act 1939

• Home Building Contracts Act 1991

• Home Building Contracts (Amendment), Act 1996 (Inception date 01.02.97)

• Building Code of Australia 1996

Owner Builder Requirements Summary

• An individual who owns land is able to undertake the construction, management or supervision of the works as an owner builder. An individual may construct for themselves, once within a 6 year period, a dwelling house or a 'building' comprising two dwellings on ground level, including additions. Certain other building works may be constructed but this requires the submission of a written application and approval of the board, prior to applying for a building licence.

• Owner builders are required to obtain a licence for works exceeding $12,000, from the Builders Registration Board, complete and sign a owner builder statutory declaration (Fee pending of $100), providing the building is not sold with 3 years of the licence issue date, and that no other owner builder licence has been obtained within the preceding 6 years.

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• There are restrictions on the number of projects (dwellings) that an owner can sell (one in any six year period but not within 3 years of licence issue) subject to providing warranty insurance for the benefit of the purchaser if within 7 years from the licence issue date.

• Owner builders are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety. However, the Home Building Contracts Act applies statewide and imposes obligations on builders and contractors carrying out home building work of a value between $6000 and $200,000, directly for a home owner including Home Indemnity Insurance provisions.

• Contractors who are engaged by an owner builder, are not required to be registered (with the Builders Registration Board) regardless of the value of their work.

• Adequate insurance to cover construction and public liability should be considered and all home building works more than $12,000 must be covered by Home Indemnity insurance if one wishes to sell the property within 7 years.

• To obtain more information, visit www.brb.org.au

TAS

Applicable Building Legislation

• Building Act 2000 (commenced 1st July 2004)

• Building Regulations 2004 (commenced 1st July 2004)

• Plumbing Regulations 2004 (commenced 1st July 2004)

• Building Code of Australia (BCA 2005 is applicable from May 2005)

• Tasmanian Plumbing Code 1994

Owner Builder Requirements Summary

• There are restrictions under the legislation on the number of owner builder constructed buildings one person can build. It is two in 10 years. There are no compulsory courses and owner builders do not need to be accredited as building practitioners. They must, however, sign an Owner Builder Declaration after reading the Owner Builder Guidelines.

• An owner-builder is defined in section 3 of the Building Act 2000. "owner builder" means a person who:

(a) carries out building work on a building on land owned by the person; and

(b) is not carrying on the business of building; and

(c) has not constructed more than 2 buildings of any classification (including in the case of a Class 1 building more than two groups of buildings which in association constitute a Class 1 building), other than Class 10 building, in the last 10 years not including any years prior to the commencement of this Act; and

(d) has made a statement referred to in section 24.

• There are legal requirements for insurance (Housing Indemnity Insurance) prior to sale with a strong recommendation for Public Liability and workers compensation warranties.

• Owner Builders are also responsible for complying with all other relevant legislation including Occupational Health and Safety and Australian Tax Office.

• Additional information can be obtained Additional information can be obtained from:

» The Building Standards and Regulation website: www.wst.tas.gov.au/building

» The Owner-Builder Guidelines: http://www.wst.tas.gov.au/resource/bsrownerbuil.htm

» Workplace Standards Tasmania Helpline 1300 366 322 (or outside Tasmania, (03) 6233 7657)

ACT

Applicable Building Legislation

• Building Act 1972

• Building Regulations (As amended)

• Building Code of Australia 2006

Owner Builder Requirements Summary

• Only an individual can apply for an owner-builder licence. You must own the land to be developed. Where there is more than one owner, all owners must consent to the application. It is recommended that the owner with the most appropriate skills to carry out the proposed work should be put forward as the primary applicant.

• To be eligible for an owner-builder licence, you must not have been granted an owner-builder licence in relation to other land in the previous five years. There is no restriction on the number of owner-builder licences for work on the same site.

• If you apply for an owner-builder licence to build or renovate your home, completion of an owner-builder course will be required, unless you are the holder of a builder licence (class A, B, C or interstate equivalent)

• If you apply to build Building Code of Australia Class 10 structures, such as decks, pergolas, carports, garages and retaining walls, you will not need to complete an owner-builder course, but will need to provide evidence of your skills and experience. Completion of an owner-builder course is also acceptable

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• There are currently no restrictions on the number of projects (dwellings) that an owner can sell (subject to limits on what can be built) and the owner builder does not have to provide any warranty or insurance to the purchaser.

• Owner builders are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety.

• Contractors who are engaged by an Owner Builder, are not required to be licensed, use complying contracts or provide warranty insurance to cover their works.

NT

Applicable Building Legislation

• Northern Territory Building Act 1993

• Northern Territory Building Regulations 1993 (As amended)

• Building Code of Australia 2006

Owner Builder Requirements Summary

• An owner builder is restricted to building or extending a house and associated building work (prescribed building work) on the one parcel of land in any six year period. These building works may include more than one building and involve more than one building permit

• An owner-builder certificate must be obtained from the Northern Territory Building Practitioners Board if intending to carry out prescribed building work valued over $12,000

• The Owner-Builder Certificate must be provided to a registered Building Certifier in order to obtain a Building Permit prior to commencing prescribed building work

• Owners Builders should check with their local ATO office regarding their requirements in relation to G.S.T. provisions and Pay As You Go (PAYG) withholding tax requirements.

• Owner builders are responsible for complying with all other relevant legislation, including Workers Compensation and Occupational Health & Safety, and have all the responsibilities of a builder.

• Contractors who are engaged by an Owner Builder, are not required to be licensed, use complying contracts or provide warranty insurance to cover their works.

• Owner Builders must obtain an Owner-Builder Home Building Certification Fund policy of insurance prior to commencing prescribed building work, protecting any future owners of the property against financial loss for a period of 10 years from date of completion of building, should the owner builder fail to rectify non-compliant building work to the standards required by the Building Regulations

The Home Building System will provide you with the following:

• Project management

• Finance administration

• Contract requirements

• Scheduling

• Insurance

For more information about the owner builder system and how we can assist you with owner builder finance or a construction loan, speak to a mortgage broker at Intellichoice today by calling 1300 55 10 45.

• Are reputable

• Provide quality workmanship

• Have excellent references

Please also be assured that these trades and suppliers do not pay us a commission to be included with the owner builder system. We believe in client satisfaction and maintaining an excellent brand image, thus we ensure that our suppliers and trades are also professional.

To apply for an exemption from completing the owner builder course, you need to provide BSA with the following:

• A written request for exemption

• Details of your current BSA licence or

• Evidence of your current interstate licence or

• Copies of your technical qualifications or

• Evidence of your current profession

An Owner Builder Course Certificate must be obtained before applying for a permit. The Owner Builder Course Certificate must be less than 5 years old at the time of application.

Applying for an owner builder permit involves completing an application form and can be obtained from the building association in your relevant state. Please check with the proper government bodies on your responsibilities and the steps you need to follow to obtain a permit.

QLD

An application form can be downloaded from the Building Services Association (www.bsa.qld.gov.au).

VIC

A Certificate of Consent must be obtained from the Building Practitioners Board first in order to obtain a building permit. Application forms can be downloaded from the Building Commission (www.buildingcommission.com.au)

NSW

Visit the NSW Office of Fair Trading to learn more about obtaining an owner builder permit (www.fairtrading.nsw.gov.au)

WA

Visit the Builders' Registration Board for more details on the issuance of a Building Licence from your local government (www.brb.org.au)

TAS

Visit Workplace Standards Tasmania on www.wst.tas.gov.au and read the Owner Builder Guidelines booklet. A Certificate of Likely Compliance must be obtained first before you can apply for a building permit

ACT

A building approval for the work must be obtained before an owner-builder licence can be issued. Visit the ACT Planning and Authority website on www.actpla.act.gov.au for more information

NT

An Owner-Builder Certificate must be obtained before a permit will be issued. Download and read the Owner Builder manual from www.nt.gov.au/lands/building for more information

Courses can be offered in a lecture/classroom format or through correspondence.

The home building system is a manual based system, which provides industry based know how and formats for the smooth running of a home construction or renovation project to completion.

It is highly recommended that you speak with one of the mortgage consultants at Intellichoice to get a better understanding on the home building system and the various benefits of using this system. Alternatively, you can also attend one of the monthly seminars that are held around SE Queensland. Please call Intellichoice on 1300 55 10 45 for details on when the next seminar will be held. The Intellichoice website is also updated on a regular basis on when the next seminar will be held.

You can save up to 30% off the cost of the cheapest fixed price builder's quote. And you get exactly the same house. For major renovations, you can save up to 50%.

For example, one of our clients had three quotes to build their dream home. By using the Home Building System, they saved themselves $64,000 from their builder's quote. The extra cash was used to furnish their home and reduce their mortgage.

To find out more about the owner builder system and how you can save when you owner build, speak to a mortgage broker at Intellichoice today on 1300 55 10 45.

The system provides you with the following services and products:

• Selection guide

• Choice of 100 floor plans

• Quotation manual

• Purchase orders

• Project management pocket 'bible'

• Assistance in finding trades in and around your local area

• Introduction to national building suppliers for trade accounts and trade discounts

• Discounts on Building Insurance

• 24/7 access to professional telephone support from a builder

• Quality inspections of workmanship at the client's request

• Full quantity take offs of materials by a Quantity Surveyor on the client's plans

• Lender's completion guarantee

For more details on the benefits of using the owner builder system, speak to a mortgage broker on 1300 55 10 45.

In Queensland, you will require the following:

• Application Form with all sections completed and the form signed

• Proof of Identification - a certified copy of photo identification such as a driver's licence of the applicant who signed the application form.

• Proof of Ownership - only acceptable forms are Current Title Search or Confirmation Registration Statement that must be original and less than 30 days old.

• Fee - refer below for correct fee.

• Owner Builder Course - proof of completion of an approved Owner Builder Course - the course completion date/certificate date can be no more than 5 years old. Or letter of exemption from BSA.

Full details are contained on the application form. For other states, please check the proper governing body on the necessary documentation.

• Bricks

• Plasterboard

• Electrical appliances

• Bath fittings

• Tiles

• Trusses and timber frames

• Roofing materials

• Paint

• Carpet

• Windows

• Doors

• Lighting

To find out more about the home building system and its benefits, speak to one of the mortgage brokers at Intellichoice today, by calling 1300 55 10 45.

An owner builder carries the same responsibilities and obligations as a registered builder when it comes to site safety and workplace health and safety regulations.

In most states, you will be deemed to be the principal contractor or the responsible person in respect to your site. As such, you are responsible for the conduct of all works in accordance with the requirements of any relevant statutes, codes or legislation.

You will be required to keep a register of all site safety indicators, work method statements and produce an acceptable workplace plan. This will be discussed during the owner builder course. For more information, please contact your local authority.

Value of building work is defined in the QBSA Act as:

'an amount representing the reasonable cost to a consumer of having the work carried out by a licensed contractor on the basis that all building materials are to be supplied by the contractor (whether or not the work is in fact carried out by a licensed contractor on that basis).'

This means when you calculate the estimated value of building work, you must include the cost of materials and the cost a licensed contractor would charge you for the work.

If your business is currently experiencing delayed credit collections from your customers or suppliers, then speak to an Intellichoice mortgage broker about our debtor finance or invoice finance solutions.

Most businesses offer credit terms of 30 days, however feedback from our customers has shown that some businesses collect funds up to 90 days later.

This delay reduces essential business cash flow and restricts the growth of your business. You should decide if this is something that is vital in the operation of your business and its ongoing success.

To find out more about debtor finance and invoice finance and whether this is suitable for your business, speak to a mortgage broker today on 1300 55 10 45.

Debtor Finance is one way for businesses to raise working capital. If your business sells on credit terms to your customers, you can leverage against these customers to obtain working capital.

Debtor Finance – also known as invoice discounting - provides the business (the borrower) with finance based on the value of its outstanding debts. A revolving credit facility is set up which provides funding at up to 90% of the value of invoices being issued by the business. The rest is made available to the business, less any interest or fees, when their customer (or debtor) pays.

Instead of of having to wait 30, 60 or 90 days for payment, you can access up to 90% of the value of debtor invoices/accounts receivable usually on the same day that the invoice was issued.

To find out whether debtor finance is ideal for your business, speak to a mortgage broker on 1300 55 10 45.

Benefits of debtor finance or invoice finance include the following:

• Ensures cash flow is maintained
• Allows you to reuse the money to generate profit
• As your business grows, so does your funding
• Orders can be filled while you're waiting for your debtors to pay
• Your overdraft no longer handles the volume of work or growth you are experiencing
• You want to avoid introducing new equity partners (thus losing control/sharing profits)
• You want to fund the business based on business assets, not personal property
• You require funding for a merger or acquisition opportunity
• You want to restore cash flow after a period of trading losses, business relocation or heavy expenditure (e.g. R&D)
• You want to restructure and clear taxation arrears, to pay creditors or negotiate new terms with creditors
• Saves management time
• Experienced credit staff will be liaising with your accounts staff
• Credit checks to verify credit worthiness of those you are giving credit to
• Offering debtor's payment discounts can be expensive and inefficient

To find out more about debt finance/invoice financing, speak to the mortgage brokers at Intellichoice on 1300 55 10 45.