Guest Posted October 7, 2014 Share Posted October 7, 2014 thanks Link to comment Share on other sites More sharing options...
dmjg Posted October 8, 2014 Share Posted October 8, 2014 Go onto an Aussie banks website and plug those numbers into a mortgage calculator and press go! Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted October 8, 2014 Share Posted October 8, 2014 I have moved your thread to the money section. The best person to chat to would be Andrew at Vista Financial he has got numerous mortgages for members. You an can find him here http://www.pomsinoz.com/forum/members/17437.html Link to comment Share on other sites More sharing options...
Alaska Posted October 8, 2014 Share Posted October 8, 2014 NAB have a good borrowing power calculator that it is worth googling. Fixed rates are around 5% at the moment. Your income will allow you to borrow quite a lot but I don't know what you would get for $500 a week. Remember as well that monthly outgoings will be a fair bit higher you own a house as you are liable for water, rates, building insurance and repairs. We have budgeted another $400-$500 a month for those things on top of the mortgage. Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted October 9, 2014 Share Posted October 9, 2014 So having never had a mortgage in the uk I'm kinda new to it all, first off I'm looking for a advisor in brisbane in anyone can recommend one, I'm also wondering what sort of amount a bank would lend me, we will have $100000 deposit by the time we get round to it all next year hopefully or close to that, we earn about $120000 between us per year with no loans on anything monthly apart from phone and internet, we currently pay $500 a week rent and live quite comfortably and save quite a lot so a mortgage round that would be great but what would that be in actual lending terms over say 25 years?thanks Hi Using the details you have provided and splitting your income 50/50 and assuming you have no dependants your borrowing power is up to around $900,000 (ridiculous I know)!!! Going on the required payments of around $500 pw ($2,166 pm) the loan (mortgage) that would match these payments over 25 years is around $390,000 going on a rate of about 4.8% (2 yr fixed) payments being around $2,180 pm. Obviously take into account rates are currently at historic lows so prepare for future increases at some point, 5 year fixed rates sit around 4.99% so payments on this would be around $2,220 pm. Hope this helps. Andy Link to comment Share on other sites More sharing options...
Guest Posted October 11, 2014 Share Posted October 11, 2014 Hi Using the details you have provided and splitting your income 50/50 and assuming you have no dependants your borrowing power is up to around $900,000 (ridiculous I know)!!! Going on the required payments of around $500 pw ($2,166 pm) the loan (mortgage) that would match these payments over 25 years is around $390,000 going on a rate of about 4.8% (2 yr fixed) payments being around $2,180 pm. Obviously take into account rates are currently at historic lows so prepare for future increases at some point, 5 year fixed rates sit around 4.99% so payments on this would be around $2,220 pm. Hope this helps. Andy thanks Link to comment Share on other sites More sharing options...
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