Guest The Wrights Posted October 3, 2008 Posted October 3, 2008 IS it possible for you to get a mortgage straight away when you emigrate or is there a minimum period that you have to rent for?:nah:
Guest Andy and Tracy Posted October 3, 2008 Posted October 3, 2008 On our recent recce, we were told that we could get a mortgage as we are on a permanent (175) visa. We would need at least 3 month's worth of up to date Aussie payslips. Income from abroad is not counted towards a mortgage. AFAIAA, you cannot get a mortgage if you are on a temporary visa, but someone on here should be able to confirm that or not. Tracy
Guest Paul EDGE Posted October 3, 2008 Posted October 3, 2008 IS it possible for you to get a mortgage straight away when you emigrate or is there a minimum period that you have to rent for?:nah: Hi Have PM'd you Cheers Paul
furkew Posted October 3, 2008 Posted October 3, 2008 AFAIAA, you cannot get a mortgage if you are on a temporary visa, but someone on here should be able to confirm that or not. Tracy You can get a mortgage on a 457 temp visa. You do need FIRB approval (foreign inverstment review board) but that only takes between 5 days up to max 30 days to get. I was able to get a mortgage with just a letter of confirmation from my sponsor that I had full time emplyment & the annual pay.I had only worked 2 weeks at the time. I believe you do need to be able to put 20% down on the property yourself to buy on a temp visa.
Guest The Pom Queen Posted October 4, 2008 Posted October 4, 2008 Hi, on a temp visa you have to jump through more loops but yes it is possible. On a permanent visa you can get one within a week if you wanted if you have a large deposit to put down. We did a Low Doc Mortgage when we first came which is very much like the self cert mortgages in the UK. The interest rate was higher but once we got a regular income coming in we just changed mortgage companies.
Guest Burbage Posted October 13, 2008 Posted October 13, 2008 If you have 20% of the value as a deposit you will get a mortgage and the property is residential and is not over $350000 (this number could be out of date) you will get FIRB approval.
furkew Posted October 14, 2008 Posted October 14, 2008 If you have 20% of the value as a deposit you will get a mortgage and the property is residential and is not over $350000 (this number could be out of date) you will get FIRB approval. might vary from state to state, but here in Vic, no maximum as far as I know. We paid $525000 and had no problem at all.
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