ClarkyX

Hi. Bit of a bump of thread here, but a couple of questions. Here in UK, my wife has had her own pension for years because she had her own career before semi retiring to look after her grandson so we kept up the payments from my sole income. Similarly she has her own life and critical illness cover so that if she dies or can't look after our grandson, the mortgage is paid off so if I need to give up work or change my job to look after our grandson I can do so without having to pay the mortgage. We would have a similar arrangement in Australia in that although the little lad is 4 now so will be going to school full time next year, he still needs picking up from school and looking after until his Mum or Dad get home. So heaven forbid, should the worst happen do I need to budget for separate individual (personal) policies for my wife's pension and life cover or can my super from my work cover it or have it added at extra cost? Cheers people. Stephen

Thanks for the replies. NAV is the valuation of the house, but from what I gather at a set point in time, like when they valued all houses in UK for council tax. I read that it was 3.9c/$ but that seems far too high, maybe it should have read 0.39c/$. I will check out details about super life cover then and see what top up options are available. Don't want to lose the house if cant work though accident or illness or fatality. Sorry when I said 1 car, I meant between my wife and I. And possibly another between our daughter and husband, then a 3rd for our son. As we are quite rural in UK, we all have cars because the train links are rubbish. None of us have ever lived anywhere near a city.

Thanks. This was just what I was looking for. Up to date and for Victoria. We are looking at moving to Melbourne. My wife and I, her daughter and husband and 4 year old and my wife's son. I used rough figures from ausiemove.com which were for Perth and a year old, I came to roughly the same amount. We may not need a 2nd car, depending on rail links to CBD for work, but may need to pay more for a house as we are all thinking of moving in together initially until we find our feet. I have a couple of questions on this subject though. Do immigrants on a temp visa (457) need to pay for state schools and if so how much and when does that stop, on residency or citizenship? What were the rates worked out on, NAV? How does NAV relate to current market value? You've not got any life or critical illness cover, don't you need that for the mortgage? Anyone that can offer any further information, jump aboard. Cheers.