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LAW & ORDER
Injured in a motor vehicle accident ?
with Anthony McDonnell of McDonnell Schroder
What is a minor injury ?
The definitions of minor or nonminor injury were legislated in the Motor Accidents Injuries Act 2017 . It applies to injured persons injured in a motor vehicle accident occurring in NSW from midnight 1 December 2017 . Examples of minor injury 1 . Soft tissue injury ; these are injuries to the soft tissues of your body such as your muscles . The most common soft tissue injury after an MVA is a whiplash injury , which often results in neck pain . 2 . Psychological or psychiatric injury ; in general , if the injury is not a recognised psychiatric injury , it is a minor injury . However , there are two psychiatric conditions under this law , that are minor injuries : Adjustment Disorder and Acute Stress Disorder .
The insurer initially decides whether
your injury is minor or non-minor . Recent statistics have shown that injured persons have greater success in having their injury classified as a non-minor injury if the injured person is legally represented . Another reason to not just accept an insurer ’ s decision .
Even if legally represented an insurer may maintain its decision that it is a minor injury .
There is an insurer internal review available . In my experience it tends to just confirm the insurer ’ s original decision .
However , after the internal review there is a further appeal to the Personal Injury Commission . Again , in my experience there is a much-improved chance to have your injury classified as non-minor .
The difference in compensation between minor and non-minor can be substantial . It is worth at least obtaining legal advice .
There are accredited specialist lawyers in Personal Injury Law who are highly qualified to give further detailed advice in all areas of personal injury law including motor vehicle accidents and workplace injuries .
Mr McDonnell of McDonnell Schroder Solicitors is a Personal Injury Law accredited specialist , contact McDonnell Schroder on 9622 1155
This article is written in a general non-specific manner . Always contact your solicitor for specific legal advice .
FINANCE
Purchasing a house and land package
by Angela Dye , Home Loan Expert at Richmond Residential Pty Ltd
When purchasing a house and land package , there are a few basic rules that you should be aware of . In most cases there will be two contracts . One contract will be with the developer for the land and the second contract will be with the builder for the construction of your home .
The bank becomes your ally during the process of purchasing a house and land package as they will monitor the progress of your build until completion . The bank first releases the funds to complete the purchase of the land and they will hold the balance of your loan which will be used to pay for the construction of your house as the build progresses .
You will take ownership of the land first which means you become the legal owner of the land . Your builder will then start building your new home . To be able to purchase this type of property , you will need to apply for a construction loan .
There are normally six drawdowns during the construction period . The bank will release five per cent of the purchase price to the builders to them to start the process of your
build . After this stage the builder will receive payment in arrears for the work completed . Your builder will issue you with an invoice after the work has been done on each stage .
You send this invoice to your bank who arranges a valuer to visit the site and verify that the work being invoiced has been completed to the specifications of your plans and council requirements .
Your loan payment during the build period will increase according to how much is drawn down at each stage . For this reason , your payment will be interest only until the build is completed , and you have received the keys from the builder . You need to ensure that you have the cash flow to carry the loan through the build period .
It can be a stressful time trying to understand the process of building your home . Working with professionals who can guide you through this process and answer the questions you will have along the way will help make the process more enjoyable .
If you are looking to buy a house and land package contact Angela Dye at Richmond Residential Pty Ltd . on 0414608970 to discuss your situation or visit www . richmondresidential . com . au .
22 ISSUE 151 // DECEMBER 2022 theindependentmagazine . com . au THE HAWKESBURY INDEPENDENT