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Mortgages on a 457


Britsinbrisbane

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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?

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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.

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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.

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