Kooky Posted March 19, 2014 Share Posted March 19, 2014 Does anyone know what sort of situation you need to be in to get a mortgage in oz? We have a good amount to buy (could buy outright 3/4 bed) but would like to maybe get a small mortgage so we can afford a pool. We want to but as soon as possible as we think it'd be better to use the money on a house rather than renting and paying out each month. What at I need to know is if you can get a mortgage without a permanent job - if we get supply teaching for example? Also is there a difference because we will have a large deposit? Thanks. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted March 20, 2014 Share Posted March 20, 2014 Hi Kooky There is no definitive answer to your question as each Lender/Bank have their own policy. However to try and give you some guide: It is possible to get a mortgage without a permanent job i.e if someone has a casual contract or a temporary contract some lenders will consider this income (it may be difficult to prove the income that will be achieved under a casual contract sometimes if the hours are not set for example and this may create some issue (in this case proof of some historic hours/income in the role may assist)). Having a large deposit will certainly work more in your favour as lenders can be more flexible in this situation. Of course the case will be based on your overall situation so it is difficult to be able to tell you more. Regards Andy Quote Link to comment Share on other sites More sharing options...
Michelle Martin Posted March 20, 2014 Share Posted March 20, 2014 You should contact a financial adviser or mortgage broker. They will be able to provide you with all the information. Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted March 20, 2014 Share Posted March 20, 2014 You should contact a financial adviser or mortgage broker. They will be able to provide you with all the information. That's who she was asking below. This is Vistas forum and he is a financial advisor and a very good one Quote Link to comment Share on other sites More sharing options...
Kooky Posted March 20, 2014 Author Share Posted March 20, 2014 Thanks Andy. Guess I will have to wait until I am there to see then. Michelle martin tin thanks for your suggestion - I guess you didn't realise Andy was one! ;-) Quote Link to comment Share on other sites More sharing options...
jac2011 Posted March 20, 2014 Share Posted March 20, 2014 A personal thumbs up for Andy from me, every time I have PM'd him for advice, he has given it swiftly and in detail despite there being no 'business' there for him until we arrive in 2015. I will definitely approach him for financial advice once we are in Oz! Quote Link to comment Share on other sites More sharing options...
realitynotincluded Posted March 20, 2014 Share Posted March 20, 2014 Hi kooky Don't know where you are looking to buy but l would really consider to start with just a house bought outright... pools are very much an ongoing cost and if people be truthful that after the first year or less the novelty wears off and to have no mortgage and freedom and maybe in the future upgrade and have all that equity to play with l would say that to get even a little mortgage you will only use a pool for the most 4 months (at a push) a year. a mortgage is an expensive thing to be paying off just for a pool. [ come down under . settle down have fun without having to contemplate mortgages... best advice l ever got from an aussie........... find a friend with a pool .......... lol . Does anyone know what sort of situation you need to be in to get a mortgage in oz? We have a good amount to buy (could buy outright 3/4 bed) but would like to maybe get a small mortgage so we can afford a pool. We want to but as soon as possible as we think it'd be better to use the money on a house rather than renting and paying out each month. What at I need to know is if you can get a mortgage without a permanent job - if we get supply teaching for example? Also is there a difference because we will have a large deposit? Thanks. Quote Link to comment Share on other sites More sharing options...
Kooky Posted March 20, 2014 Author Share Posted March 20, 2014 Hi realitynotincluded we probably will buy outright to be honest for all the reasons you quote - just want to know incase we need more to get a house big enough for our family. I have a friend with a pool where I am going (adelaide) so not too bad. We will be staying with them initially anyway so we can use theirs for a while ;-) Quote Link to comment Share on other sites More sharing options...
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