richselina Posted November 10, 2019 Share Posted November 10, 2019 Hello, I'm looking for some general guidance on typically what hoops and period of time you have to wait in Australia after moving before you can apply/secure a mortgage once you're in full time employment. Any advice would be most welcome. Thanks Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted November 10, 2019 Share Posted November 10, 2019 Hi @richselinathere are various scenarios so it’s hard to say. For example, how much deposit you have to put down, which lender, if your new job is in the same occupation as you did before you made the move. When we first came out people were getting mortgages after being here 3 months, others could apply for an Australian Business Number and as long as they had 20% deposit they could get a house. Unfortunately these times have changed. Quote Link to comment Share on other sites More sharing options...
Ken Posted November 11, 2019 Share Posted November 11, 2019 16 hours ago, The Pom Queen said: Hi @richselinathere are various scenarios so it’s hard to say. For example, how much deposit you have to put down, which lender, if your new job is in the same occupation as you did before you made the move. When we first came out people were getting mortgages after being here 3 months, others could apply for an Australian Business Number and as long as they had 20% deposit they could get a house. Unfortunately these times have changed. Yes, these days if you have an ABN you need to wait at least 2 years before having any chance of a mortgage. Weirdly employees (who are obviously at far greater risk of losing their jobs than the self-employed unless the self-employed person only has one customer) need far less history. Quote Link to comment Share on other sites More sharing options...
Kenfrapin Posted November 21, 2019 Share Posted November 21, 2019 On 11/11/2019 at 17:31, Ken said: Yes, these days if you have an ABN you need to wait at least 2 years before having any chance of a mortgage. Weirdly employees (who are obviously at far greater risk of losing their jobs than the self-employed unless the self-employed person only has one customer) need far less history. Very similar to how folks with their own companies are treated in the UK. Luckily when we got contract/temp roles it was through a recruitment agency who treated us as their own full time employee, so we did not need an ABN and were paid as a normal PAYE. This really helped us because even though we were contracting we managed to get a mortgage with 3 months payslips Quote Link to comment Share on other sites More sharing options...
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