jensteve

Sorry to give agents a bad name but why do quite a few not explain the bond system, mine didn't and it would seem several people on here are just unsure as I was in the beginning.
What are they thinking of? No mention was ever given of 49day limits, well not until I had literally pinned them down and lots of applicants on here are very unsure how the whole thing works.
I wish they would be more honest, and give you the facts that if your on the bond route unless you have a bank full of money you will need to sell your house, and because of the time scales DIMIA give you to transfer the money, that it is basically impossible to be in the position of finding a buyer in the time given.
Thats why so many of us end up on relatives floors or in rented accomodation.
Anyone fancy a moan please do I know exactly how you feel!

Jenny

keel

Hi Jenny

I may be wrong but can you not get an extension to this 49 days?

It's been 11 months since I posted mine so my memory may have slipped. I do remember that there was very little info given and I had to glean the info off fellow forum members who were most helpful.

Well one month to go and I'm solvent again.

Keel

ABCDiamond

There is an option to that $100k, it may be no good for most people, but here are the options, just in case it helps anyone:

5 Points may be awarded for one only of the following:

A: Capital investment in Australia (a minimum of A$100,000); or

B: Australian work experience (an applicant must have legally worked in Australia in any occupation on the Skilled Occupations List for at least 6 months in the 4 years before lodging an application); or

C: Fluency in one of Australia's community languages (other than English)(see Booklet 6 for details)

Sue Milner

Hi,
This is the first I have heard about the 49 day thing! 49 days from when?

We are just filling in the application forms now - 47SK and are using the $100,000 bond in order to get the 115 points.

Is there any more light you can shed on this matter -

Cheers!
Sue.

P.S My best friend lives in Heswall!!

ashnibo

Hi there,
We have just made the investment and yes it is true that you get 49 days to pay the money. We waited until we had the request for the capital investment (about 3-4 weeks after meds) and then we put the house on the market. Yes it's true that you can't really sell a house that quickly, so we asked our case officer for an extension. That wasn't a problem at all and she granted us a further 3 months on top of the 49 days. We decided to remortgage the house so that we could make the investment as soon as possible. Got the visas soon afterwards.
Ashnibo

ABCDiamond

This thread has some info from someone who got two extensions
http://britishexpats.com/forum/showt...hlight=49+days

If you do a search with "49 day" in the search box, with the " " marks, it will bring up a few threads on the subject.

Boomie

correct me if i'm wrong......

For Skilled Independent.....who need to post bond

After 8/9 months you will be allocated a case office, ure application will be checked through, he/she will then ask you to submit both medicals and police checks and any othe outstanding info they require .....it may be references or character refs or birth certs.....anything like that ......you will be given so long to get all the info together...... we have been given upto 70 day from the date of the letter......In some cases meds will need to go to the HAS for further checking (if you r given a B by ure doc)...... once the case officer is happy with everything......bond will be requested .......usually within the following month........and like with the meds/police checks......... you will be given so many days to post bond.........not ure how many.......prob 49/70 ...... which is not alot when you are trying to sell ure house........some people have been to the building society and applied for an extension on their mortgage or a short term loan.......if they haven't sold up by that time...

hope this helps.....

love boomie
xx

ashnibo

I should have said that the 49 days start from when you get the letter for the request of the capital investment. Everything is explained in detail in this letter: where to invest, how to invest etc.
We also got the 3 months extension straight away, but our case officer made clear that that is the limit. She said that after that we wouldn't get more time to make the investment. That's why we remortgaged. Just to be on the safe side ....
Ashnibo

Phoenixuk2oz

Hi ABCD

Thought it worth clarifying above point C as I looked into this last year [I speak & write a community second language fluently].

Fluency in another language is required at a minimum NATI level 3 or 4 [not sure which]. NATI =National Accreditation for Translators & Interpreters. To do the level required I was informed you have to study for the NATI exam in Australia as this level can only be obtained inside Oz [can qualify at lower levels outside of Oz on 12 weeks crash course but this is not the required level i.e not high enough]. So basically unless they have changed, for anyone to gain NATI level 3/4 you will have to go to Oz to qualify [difficult if you work in UK!]. Talk about putting obstacles in way

This may have changed since last year?

Thought it worth clarifying as there are other NATI levels which can be obtained outside of Oz but these are not suitable to qualify and basically I found this option was almost impossible for most people who work outside of Oz and cannot get time off to study in Oz.

Hope this helps.

Phoenixuk2oz

ABCDiamond

Glad you did mention it. I agree about it being an "obstacle".

It seems like it would only help someone who has lived in OZ for some time already

S Oldfield

We approached our building society, borrowed an extra £43,000 9equity in the property), stuck it in the bank...............and thats where it will stay until the bond gets requested.Wont be selling the house until we get nearer our `We have got it post`!!!!

Easy Peasy and a lot less stressful than `camping` at the rellies, as your house is sold!

Phoenixuk2oz

Yeh.......me finks the beggars at DIMIA know how to put people off applying.....or being successful......but not those wiv tenacity eh ABCD

Phoenixuk2oz

Phoenixuk2oz

Good on ya

"No worries" then......... as they say

Phoenixuk2oz

Dreamaway 10

Hi Sandra I think thats the option we will take if we can we will remortgage and borrow the extra.
It seems to be the only way as we do not want to have to sell the house just yet move the children two or three times would be a nightmare and just not fair.
Fingers crossed that they will lend it to us.
Did you tell the Lenders what it was for?

jensteve

Thanks for the replys, I did try our mortgage company, although we have plenty of equity we cannot loan against it. Wages have to be taken into account as it would be for a normal mortgage, so because we already are "maxed" out with our original they would not offer any other financial support, unless our wages went up by a vast amount. Its quite difficult as I have a business that is being sold in the next couple of months, so technically I will be unemployed.
Without this site and the information I have found regarding bonds and the like, me and hubby would have been sitting in our house expecting to see a pre-grant letter before needing to deposit the money. My agent certainly did not explain the ins and outs and that is my point why don't they explain, is it because they have their money and its technically not their fault if you turn round and say you don't have the cash there and then. I think that bonds should be explained in full, us lot on here are ok, we've found out but how many others never find this site and end up in the position of jacking it in at the last minute because it was not explained.
Jenny