Britsinbrisbane Posted February 1, 2014 Share Posted February 1, 2014 I was told you had to have PR to get a mortgage but it seems that's not true. Anyone had a mortgage while on a 457. Also I am 2 years into my 457. As I am over 50 (55) I don't think I can go for PR. We have a daughter here with residence so Contributory Parents Visa an option but not keen on the cost. Anyone been in a similar situation? Quote Link to comment Share on other sites More sharing options...
Daveakaginge Posted February 1, 2014 Share Posted February 1, 2014 I was told you had to have PR to get a mortgage but it seems that's not true.Anyone had a mortgage while on a 457. Also I am 2 years into my 457. As I am over 50 (55) I don't think I can go for PR. We have a daughter here with residence so Contributory Parents Visa an option but not keen on the cost. Anyone been in a similar situation? We have just got a 25 year mortgage with Commonwealth, we are on a 457, and in our 50's. We had to give a 20% deposit, but all is sorted, and we are home owners. Quote Link to comment Share on other sites More sharing options...
VERYSTORMY Posted February 2, 2014 Share Posted February 2, 2014 The issue you have to ask is what will you do when the 457 expires? Quote Link to comment Share on other sites More sharing options...
flag of convenience Posted February 2, 2014 Share Posted February 2, 2014 We have just got a 25 year mortgage with Commonwealth, we are on a 457, and in our 50's. We had to give a 20% deposit, but all is sorted, and we are home owners. Well actually the lion's share of the house remains owned by the bank but we get the point. I wouldn't personally have a mortgage going into retirement. A lot can happen in 25 years. Quote Link to comment Share on other sites More sharing options...
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