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Found 164 results

  1. Guest

    Mortgage in Oz

    Hi just wondered how hard it is to ge a mortgage in Oz, what critiea's are required.
  2. Guest

    aussie mortgage criteria

    Hi to all, I was wondering if any one who has already moved to oz can tell me how much the mortgage companies lend you in relation to your wage, some poeple have said it is 5x your wage is this true?. I have been looking at houses and havnt got a clue as to what we could afford because I dont know the criteria. I have spoken to my boss over there and he has given me a breakdown of how much I will earn a week gross and net with and without O/T, and how much tax I will pay. so if there is anyone who can help I would appreciate it, I dont know if I am looking at housees that are way out of my price range. Cheers in advance.
  3. Guest

    mortgage ? X salary?

    does anyone know what the norm is in OZ re mortgages? we would want to buy eventually over there but need to know what kind of budget we would have. eg if dh earns A$50kpa, what mortgage would we get? 4 times that or more? thanks :cute:
  4. Guest

    mortgage advice

    Prob already a thread for this question but here goes..... Is it possible to buy or get a mortgage for property even if you are on a temporary visa? thx
  5. Guest

    Great mortgage advisor

    Hi there, We have just got a mortgage in Perth although still living in UK. We dealt with a mortgage advisor called ALison at MLG money in Perth. Just wanted to recommend her if anyone out there is looking to buy in Australia, she was an absolute pleasure to work with and made the process very easy. If anyone wants to contact her her email is alison@mlgmoney.com.au
  6. Has anyone who is renting their uk home thought about increasing their mortgage in order to use the money to set up in Oz. I am thinking this may be a good idea for two reasons, firstly, because I am not selling and have no savings left, I need some money and as far as I am aware it is much cheaper to borrow in the UK at the moment. Secondly because you can offset the interest paid against the tax you have to pay on the property. It seems like a no-brainer to me but then I am not an expert. Any experience of or view on this?
  7. Alistair Darling is considering helping fund new mortgages to aid stricken mortgage and housing markets, it has been reported. The Chancellor is said to be looking at proposals due to be mooted on Tuesday in Sir James Crosby's review of mortgage finance that could widen the scope of the Bank of England's £50 billion rescue package. The Treasury may seek to free up the log jam in mortgage funding markets by allowing banks to trade in securities backed by new mortgages in return for more easily tradable Government bills, according to the Financial Times. The scheme currently applies only to old mortgage assets held before the start of the year and lenders are anxious that the existing package is not enough to ease the deepening credit crisis. Sir James - the former chief executive of Halifax Bank of Scotland - is also understood to be working on proposals for a "kite-marking" system for high-quality mortgage-backed securities to instil confidence after the credit crunch devastated wholesale funding markets. But the Crosby review will hold off from making final recommendations until the autumn, with the Chancellor not understood to be planning any announcements until the Pre-Budget Report. Lenders have already voiced their concerns at the delay in taking further action to kick-start the mortgage market. The Council of Mortgage Lenders said earlier this month that the Government must "act swiftly" to resolve the mortgage drought. It warned that mortgage lending was set to halve this year, with the lack of financing expected to further hit the UK's property market and housebuilding sector. However, plans to extend the Bank of England's so-called Special Liquidity Scheme may meet with opposition from the central bank. Bank Governor Mervyn King said on launching the SLS in April that it was designed to "increase the liquidity of the banking system as a whole" in order to protect the wider economy. He said its aim was not to restore the mortgage markets to the "excessive lending" seen before the credit crunch hit last summer and that it would stop short of covering new mortgages as it did not want to be seen to be propping up the market. Sir James, who was in charge of HBOS between 2001 and 2006, was charged with leading the mortgage review in April. He is heading a team of outside experts and officials from the Bank of England and Financial Services Authority:biglaugh:
  8. carlymac

    Good mortgage lenders

    Can anyone tell me the best mortgage lenders in Brisbane??? Thanks
  9. HI, just a general question! We have a house in the UK with no mortgage and are renting it out for £800 per month. We are in a rented house in Melbourne. As the interest rate is lower in the UK than Oz would it be possible to get a mortgage on the UK house to buy a place in Melbourne? Are there any benefits? I will get some professional advice from someone (!) but was just wondering if anyone else has done this? thanks Karen
  10. tomgolland

    Temp visa mortgage?

    Hi all, I need some advice please. I'm days away from lodging my defacto visa application and I'm optimistic that all will go according to plan and I'll have a 2 year temporary residency before getting permanent residency. I would like to know if I would be availbale for a home loan as a temporary resident? And if so, could my partner and I have a joint home loan? And what restrictions are there likely to be. Cheers, Tom
  11. Guest

    mortgage advice

    Hi there...... We are in the process of selling our home in the UK to move over to Oz.... we're thinking of coming to melbourne or adelaide.... can anyone offer any advice on what area's are good for jobs and what the situation is with rentals and mortgages at your end? Mortgages are hard to come by in the UK at the moment.... is it the same in OZ and if so are the rentals difficult to find? is it right that the interest rates on home loans are nearly 10% now? Cheers )
  12. Hi PIO Just been to see our mortgage advisor. We told him that as soon as we get the visa we wish to move to Oz asap. BUT like many others we have not sold our house. Anyway he told us about an option we may well take up. It goes like this...... Your have what they call a "Repayment Hoilday". This option gives you six months without paying for your mortgage, giving you more money in OZ to rent while waiting for the house to sell here.:jiggy: Of course you will have to pay back the money either at the end of the mortgage or added on each month, if the house doesnt sell.:nah: He did say that the housing market should improve by Aug/Sept 08. He agrees that we should not sell our house cheap BUT hold on for a little while longer. So, if the house doesn't sell when we are ready to leave this has become another option instead of renting or hanging around waiting for someone to buy the house.:wubclub: Hope this makes sence and helps others in the same situation as me. XX
  13. Guest

    Euro Mortgage

    I'm thinking of ging back to Spain but want to keep my pace here I was wondering if its possible to set up a euro mortgage here based on the eurobor rate.
  14. Hi All, We are moving to Perth hopefully in June/July this year. We have PR visas, which we validated last June, and have bought a plot of land, which has been paid for. (We've remortgaged here, and hope to let it for a couple of years, before we decide where to settle.) Does anyone know if we will be able to get a mortgage to build a house using the value of the land, before my husband gets a job, so that we can get on with the process of building the house before waiting for him to get a job and for a few months salary to come in? Also, can anyone give us a rough idea of any other living costs in the first few months, such as deposit for a rental, rent for 3 months, cost of buying and running a 2nd hand car, bills, food etc. We hope to get somewhere in the northern suburbs of Perth, and need at least 3 bedrooms. Thirdly, we have a new baby who I am just in the process of applying for a passport and a sponsorship visa for. I know we have to declare that we will provide for her for the first two years and that we can't claim benefits, which we wouldn't be wanting to do anyway. However, does anyone know if this includes family allowance? Do you get any child benefit in Oz at all, or not? I know we would be able to get medicare support which is good. Any advice, answers to all or part of this message will be gratefully received. Cheers, The jp's
  15. Guest

    Mortgage and Tax????

    Hi Guys, Questions.... 1) How soon could we get a mortgage when we get there? (independent skilled worker visa) 2) How much is stamp duty, or aussie equivilant? 3) How much is income tax? Thanks so much for any help you could offer or point us towards... Meg + Jon xx
  16. Hi, Just wondering if it will be possible for us to get a mortgage on a 475 provisional visa or will be have to rent until we get PR?? Going to Adelaide so want to get on property market before the prices suddenly rise. Thanks
  17. Generalis

    Mortgage - how much

    Hi I'm trying to find out how much a mortgage would cost for $300k. I've looked on one of the links via Real Estate, Property, Land and Homes for Sale, lease and rent - realestate.com.au and it came out about $2100 and another one I looked at came out at $1,100 so very big difference. The lower amount came in if we paid it fortnightly. Is this totally wrong. Also is $300k a lot to borrow by aussie standards as looking at median mortgage payments it came up at $800 per month so I'm freaking out whether I've got my figures right or we are gonna be mega skint. On one of the searches it came out that we can borrow $600k is that right for about $110k per year? Seems more than what we could borrow in the UK. Thanks for your help! Sam
  18. Hi All, looks like im going to be able to start work self employed, hopefully. My question is, can any one tell me how many months/ years accounts i would need to have before applying for a mortgage? I know the benefits of being my own boss will be worth waiting a bit longer to buy but wanted to check it wasn't to long. Thanks everyone, John.:notworthy:
  19. Hi everyone, Does anyone know about or is anyone receiving Salary Sacrifice towards their mortgage? Timi
  20. :wubclub:Hi when we hopefully go over in july how long do you have to be in Australia before you can get a mortgage we dont have a house to sell over here but have a little amount of savings do you need to be in employment or could we go over and try to buy instead of paying rent. what would we have to bring with us the bank were with hsbc we have been with for quite a few years and they have a sister group in Australia cant remeber the name sander or something since we have been with them would we qualify better for a mortgage need a bit of advice and dont know where to start both have good credit rating dont owe any money anywhere and i thought since the bank knew us we would stand a bit of a chance help anyone....
  21. HI I am a qualified Cemap Mortgage Broker and am in the process of moving to Australia, I have gained my VETASSSESS points for my visa through my previous experience and qualifications as a HR Manager. I have since become a mortgage advisor in the UK and passed Cemap 1, 2, and but am now wondering whether these qualifications are going to be recognised for me to continue in the mortgage industry in Australia. Any advice would be greatly appreciated. thanks L
  22. Hi I am a qualified mortgage advisor/broker in the UK, I have Cemap 1,2, and 3 and am in the process of moving over to Australia. Does anyone know whether these qualifications are any use in australia and will I be able to get a job in the mortgage industry with these? I was under the impression Cemap was recognisable all over the world but want to make sure. Any advice is greatly appreciated. Thanks L
  23. Hi guys To anyone in Oz (preferably Melbourne) - we're wondering whether to bother buying when we get there. We've done some research on costs and they seem very eager to throw loads of money at you for a mortgage and then take upwards of 55% of your net income back off you in repayments!! Dan will be at college full time and therefore not earning for the first couple of years so having done some very rough estimations on net income (still being very hazy about the tax system) and hopefully hugely underestimating income!! - we've had a look at what we can get and the cost of repayments....so 1. Can a couple (no children) live on $2k per month net after mortgage. I'm thinking utilities, petrol, travel costs, food, a small amount of 'life'. Our UK costs for these things amount to around £1250 pm but hopefully food and petrol are still slightly less in Oz than the national debt. It's really not knowing the monthly costs of utilities, broadband, train tickets etc that make it hard to see if it's possible - we can always just stop eating!!; and 2. Is it worth buying at all? It's expensive. Obviously one day when we have a family we will want our own place but has anyone long term rented and found it really worked for them? Rental does seem to be a lot cheaper than mortgage but we had hoped to keep our first place as a retirement investment. Anyone have any thoughts on the financial aspect of buying vs renting?? Ta very much :wubclub:
  24. Hi All, would be really interested to hear about anyone's experience of getting a mortgage in OZ. We have read that they can be pre-arranged whilst still in the UK and were wondering if it was based on job offer/salary or whether the equity of UK house sale is considered. Thing is, we weren't gonna get a mortgage so hadn't really looked into this but as the exchange rate has dropped (and my love of the real estate is pushing our budget :swoon:) we thought we should look into it. Cheeeeers CC x
  25. Hi all, I am moving over to Brisbane in September, I work in the building trade, and I was wondering how long do I need to be in work in order to get a mortgage? Obviously we'll be renting for a few months, but then we want to get our own place. Does it work out much better to buy land, then build, or go for established? I know a couple of people in Perth who built, but it was loads of hassle, turned out to be a good investment though. Thanks
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