Major Tom Posted November 25, 2015 Share Posted November 25, 2015 Hi all, Just some advise on Mortgages in the land of Oz, being just 49 last week, what's the longest term I would be allowed for Mortgages, my OH is 42? Trying to work out financials etc.......... Cheers MT Partner visa (subclass 309/subclass 100 lodged 02/04/2015, CO (VF) allocated 06/05/2015. Police ACRO Check completed 24/09/2015, Medical Check completed 01/10/2015, currently completing a C100 removal from jurisdiction for my Stepson, looking to locate to Melbourne Berwick area with my family of five in early 2016. Quote Link to comment Share on other sites More sharing options...
Alaska Posted November 25, 2015 Share Posted November 25, 2015 All I can tell you is they definitely allow you to be mortgaged until 70. Quote Link to comment Share on other sites More sharing options...
Ken Posted November 25, 2015 Share Posted November 25, 2015 I shouldn't really be replying to you since this is an "Ask Vista" thread, but since I'm also 49 (and my OH is 41) I thought you might like to know we've just taken out a 30 year Mortgage with no hassle regarding our ages at all. Australian Banks are clearly far more optimistic with regard to ones ability to carry on earning into old age than their UK counterparts (I had no end of questions from NatWest because I would be 66 before their Mortgage ended - even though it had already been announced retirement age would be 67 before I got there plus the property wasn't for me to live in)! Quote Link to comment Share on other sites More sharing options...
Sammy1 Posted November 25, 2015 Share Posted November 25, 2015 Hi all,Just some advise on Mortgages in the land of Oz, being just 49 last week, what's the longest term I would be allowed for Mortgages, my OH is 42? Trying to work out financials etc.......... Cheers MT Partner visa (subclass 309/subclass 100 lodged 02/04/2015, CO (VF) allocated 06/05/2015. Police ACRO Check completed 24/09/2015, Medical Check completed 01/10/2015, currently completing a C100 removal from jurisdiction for my Stepson, looking to locate to Melbourne Berwick area with my family of five in early 2016. Retirement age is 70 here, you will be fine. Quote Link to comment Share on other sites More sharing options...
DT55 Posted November 25, 2015 Share Posted November 25, 2015 Same here. I'm 45 and they offered me a 30 year mortgage. When I queried this they said it was the norm. Also found it much less stressfull buying a house here. Non of that being stuck in a 'chain' nonsense Quote Link to comment Share on other sites More sharing options...
Major Tom Posted November 25, 2015 Author Share Posted November 25, 2015 Thank you all, post is being moved to correct location.............good news on mortgage companies. :-) Partner visa (subclass 309/subclass 100 lodged 02/04/2015, CO (VF) allocated 06/05/2015. Police ACRO Check completed 24/09/2015, Medical Check completed 01/10/2015, currently completing a C100 removal from jurisdiction for my Stepson, looking to locate to Melbourne Berwick area with my family of five in early 2016. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted November 25, 2015 Share Posted November 25, 2015 (edited) Yep, policy is a lot more sensible here and the default term of 30 years does not really get questioned until people start approaching say mid 50's. However even then it is possible if a clear exit strategy is detailed, some lenders will consider money in super as an exit strategy for example, downsizing may be another. Edited November 25, 2015 by Andrew from Vista Financial Quote Link to comment Share on other sites More sharing options...
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