GCH

I believe you need 2 years work/income history to be able to get a mortgage !!

Do you know if there is any alternative ?

Appreciate any comments.

Thanks

Greg

CON

Where did you get this information?

We are going to be building a new property and will probably need to borrow around $100K on top of what we already have (or will have once we sell our house) I hope we don't have to wait 2 years to get that moving, that long with the outlaws will be the end of me.
:scared:

walla

Thats contrary to what we've been told. As far as I was aware you can get a mortgage as long as you have employment. Where did you get this info from?

Walla

HiddenPaw

you might not meet the lending criteria of the banks, but there are plenty of other lenders on the market who will take on low doc borrowers (those who don't have an Aussie financial history, or a good finacial history). Down side is that you will pay higher interest rates than the banks...how much higher depends on how much of a risk you are, size of deposit etc.

I would try the banks first but if they reject you, try someone like Liberty Financial or just go to one of the Aussie-wide brokers such as RAMS or Aussie Home Loans

Don

More like 2 weeks.

We got a mortgage in NZ with NO history!

Guess we look nice guys.

the plumber

From what others have said on this subject.....as long as you can put down a large deposit , your'll have no problem finding a mortgage.


all the best plum


ps check out archives

madsad

Our friends moved to Brissy & bought thier own house within 6months of emigrating!
Donna.

ABCDiamond

I agree.
I know people who got Mortgages within a few weeks of arriving in Brisbane from the UK. All you need is a job, and the "right lender".
Any Mortgage Broker will help, if you can't find the right Bank yourself.
I have even read about some people who have arranged the Australian Mortgage before even getting here.

WheelsOfSteel

Just to reiterate. We got a mortgage no problems, using a bank here in NZ.

Normally, they will want the usual 20% depot. I was only on a work visa too not PR when I applied.

However, I did have considerably more than the mortgage amount tied up in investment property in the UK though, which I was asked to prove, but certainly didn't secure any borrowing against it...

rudo1ph

2 YEARS!!!??? Nope - not sure where you get that from!

We arrived here in Sydney and had bought and moved into a house within 5 weeks! We went directly to the bank and had no hassles at all.

jwatsonoz

good grammar is essential for success (too)

threlly

we r hoping to move to sydney next year and plan on buying asap. we are going to live in the north shore area which we know is expensive. howver, when we buy we are happy to move further out to get the house we want, where have you bought and can you recommend any good areas-within easy commute to the city
cheers

Jacqui

We would recommend Homeloans Ltd for a mortgage; they just arranged ours and it was straightforward and quick. I know they also specialise in mortgages for "lo-doc" clients (such as new migrants and self-employeds). Their website is www.homeloans.com.au. If you're in Mandurah, ask to speak to Gerard Harris, great guy to deal with.

rudo1ph

We live in the Hills district and are really happy here. We chose a small village rather than one of the bigger towns, but we are not far from Castle Hill, so can enjoy all the facilities there.

Driving into the city from here is not too bad - onto the M2 and straight in. There is no train from this area though.

bussie

Because both my wife and i were on a 3 month probation period we found it very hard to get a mortgage we went to all the normal lenders ozzie, wizard, the normal banks etc but because the mortgage is a hard one to sort out we found that no one could be botherd...... we found only one company that would lend us the amount we wanted and that was HSBC through select mortgage services. i even had gone into HSBC and was told they wouldnt lend to us until we were of probation...so make sure you speak to the right people....


we had to put 6 mths repayments in a fixed term account for 12mths as a term of the mortgage but it earns intrest and we can just pay it off the mortgage when the 12mths are up