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pablo

mortgage,agent direct to lender?

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hello all, im just wondering if anyone can advise on credit references , work history etc needed for people like myself to obtain a mortgage asap after landing in adelaide?as we will be brand new in australia im dubious as to how keen the banks will be to lend?ive asked northern rock for references re our mortgage but they simply said our mortgage statement is our reference?im planning on taking over tax returns ( self employed since 89 )for proof of earnings,and an introductory letter from my accountant(its the least he can do after all the money ive saved him by not going to all his pineapple and cheese on a stick and wine partys down the years)so if anyone can advise on this it will be helpfull to ourselves and maybe to others in advance of arriving in australia,thanks paul. btw a happy christmas and a fruitfull new year to all who are there, all who are going there, all who are trying to get there,and to those who have decided australia isnt for them and came "home":emoticon-signxmas:


"The problem with neo conservative capitalism and it's insatiable greed for more wealth and disparity amongst the populace,is that it ended up being the catalyst for the great depression and modern recession"

 

Me,tonight:wubclub:

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Guest the dobbas

hi there

 

i went to aelaide in july prior to us going full time to find out about mortgages and to look ay houses etc. i was very suprised as they use banks and brokers to lend money . the brokers normally give you a better rate of interest ( it is totally different to here ). i asked what info they would need and was told nothing from uk all they need is some pay notes from your job in oz. even if you have been bankrupt in uk it did not matter, it is a total fresh start. when i asked how this could be i was told they normally will only lend up to 80% of the property value and that if you did not pay they would just take your house off you so because they have the extra equity in your house they will lend without any problem.i hope this helps

 

:emoticon-signxmas:

dobba

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hi there

 

i went to aelaide in july prior to us going full time to find out about mortgages and to look ay houses etc. i was very suprised as they use banks and brokers to lend money . the brokers normally give you a better rate of interest ( it is totally different to here ). i asked what info they would need and was told nothing from uk all they need is some pay notes from your job in oz. even if you have been bankrupt in uk it did not matter, it is a total fresh start. when i asked how this could be i was told they normally will only lend up to 80% of the property value and that if you did not pay they would just take your house off you so because they have the extra equity in your house they will lend without any problem.i hope this helps

 

:emoticon-signxmas:

dobba

thx a lot for that dobba,makes sense i suppose,easy for them to take back what with the 20%equity.cheers mate


"The problem with neo conservative capitalism and it's insatiable greed for more wealth and disparity amongst the populace,is that it ended up being the catalyst for the great depression and modern recession"

 

Me,tonight:wubclub:

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People here (in Oz) quite often borrowed 95% or more of their house. Now that the financial downturn has hit banks are getting stricter.

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