Hi, researching these forums and the interweb I have come to think we're in a good situation to buy. Please, a few questions and a little info:
Recently started the 457, within my first month of getting regular pay checks (weekly) - I was working for them part time before the visa kicked in.
1) Will I need to be here longer to satisfy the banks/lenders?
Was flatly turned down by Commonwealth bank as I'm not PR (my wife is also a foreigner to these parts)
2) can you recommend a good lender or two?
We have money saved and are not looking to buy big, we hope to have 50-60% of the cash we need towards the house.
3) surely having 40-50% deposit is a great help(?) Would anyone recommend keeping some back for future, say kids, school or the like or is it wise to invest all we can afford in the house?
I understand the process is: Find a lender, get approved, find a house, get the FIRB...
4) Can someone tell me if there is more to the early stages of the process, any pitfalls/caveats?
I need to move cash from the UK at some point. I'm not desperate to move it yet and the exchange rate is painfully poor right now.
5) Recommend some methods of moving cash. Are any of these cash moving agents scams? (surely but I hope not the ones posting on these forums). Any wild guesses on when the exchange rate will improve and to what levels (I know we can only guess and hope here).
That's all for now, more questions to come.