457 and buying / renting

[Dalt]

Hi

 

My husband and I (both doctors) are moving over in Queensland in january on 457 visas with aims to permanent residency as soon as we can.

I was wondering about buying property on 457s. I read that it is possible but 20% deposit is usually needed, however this can be 10% if you've been working in your current profession for >12 months. We have been doctors in the UK for years, will these years count or does it mean working in Oz as doctors for >12 months. Contemplating buying asap as we hate wasting money on rentals.

 

Many thanks

[LKC]

Hi

 

My husband and I (both doctors) are moving over in Queensland in january on 457 visas with aims to permanent residency as soon as we can.

I was wondering about buying property on 457s. I read that it is possible but 20% deposit is usually needed, however this can be 10% if you've been working in your current profession for >12 months. We have been doctors in the UK for years, will these years count or does it mean working in Oz as doctors for >12 months. Contemplating buying asap as we hate wasting money on rentals.

 

Many thanks

 

We bought on a 457, but we had more than 50% deposit so I'm not sure about the deposit side of things. However, you will need to get permission to purchase from the FIRB before you can buy, as you will be on a temporary visa. You can find the information you need here http://www.firb.gov.au/content/default.asp.

[Dalt]

Thank you.

[mariewellu]

My husband is also a doctor we came on a 457 and purchased after 2 mths. You need a letter of offer and mayb a wage slip but you have to do 20% deposit.

We bank with Westpac they also offer a relationship manager who specialises in docs, they have always gave great advice and never put a foot wrong. I can give u his number if u like so when u land he can help with advice, they also offer services for transferring pensions from Nhs.