Hi All Loan for construction and refinance of land combined just went unconditional with Westpac YAY! I had a question RE paying our deposit to the bank. Is it just a matter of organising a bank cheque as that is what we did with the land or is there another way you need to do it when paying a deposit directly to the bank? Thanks
What deposit? You don't pay deposits to the bank. If it is the purchase deposit you pay that to the vendor. Your solicitor will either get you to put money in their trust account or instruct you who to make a bank cheque out to.
If you alread own the land then you would pay the builder first before the bank starts the progress payments.