Quote:
Originally Posted by jo n paul
I have been in touch with an estate agent and have been told that as long as Paul is working full time, in the trade he applied under for residency, we can have a mortgage straight away with a 10% deposit...We are chuffed to bits as we have seen a couple of houses that have really impressed us..
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G'day
I would advise to treat all advice from a real estate agent with a great deal of caution.
BTW, if you have a permanent visa, you could apply for a mortgage with a deposit of 0%, nowt, nothing, nada. All you need is the ability to demonstrate you can pay the mortgage. Having a deposit helps but is not strictly required. Having a deposit of less than 20% however does mean that you will have extra costs to pay - Builders Mortgage Insurance which gets higher and higher as your deposit gets lower and lower.