Arrrrrrrrrrrrrgghhhhh feeling rubbish
#1
Just Joined
Thread Starter
Joined: Oct 2014
Posts: 1
Arrrrrrrrrrrrrgghhhhh feeling rubbish
Hi all, I'm brand new to this forum and need some pick-me-up advice / encouragement hope you can help.
I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.
I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.
My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.
We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.
My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.
Proof was in black and white she could make payments.
About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.
Feel lost No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....
I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.
I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.
My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.
We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.
My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.
Proof was in black and white she could make payments.
About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.
Feel lost No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....
#2
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Arrrrrrrrrrrrrgghhhhh feeling rubbish
Do you actually have a visa which would allow you live in Australia for half the year and allow your fiance to carry on working?
If not then it is not as easy as you seem to think....And i am not surprised that a bank would not give you a loan
If not then it is not as easy as you seem to think....And i am not surprised that a bank would not give you a loan
#3
Re: Arrrrrrrrrrrrrgghhhhh feeling rubbish
Yes what Mr Grayling said.
Assuming you are not an Australian citizen or visa holder, I am incredulous that actually thought this was a slam dunk. Banks will rarely lend to non-residents, far too risky. Welcome to the real world..
Assuming you are not an Australian citizen or visa holder, I am incredulous that actually thought this was a slam dunk. Banks will rarely lend to non-residents, far too risky. Welcome to the real world..
Last edited by Bermudashorts; Oct 16th 2014 at 8:10 am. Reason: rephrased
#4
Re: Arrrrrrrrrrrrrgghhhhh feeling rubbish
Hi all, I'm brand new to this forum and need some pick-me-up advice / encouragement hope you can help.
I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.
I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.
My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.
We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.
My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.
Proof was in black and white she could make payments.
About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.
Feel lost No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....
I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.
I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.
My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.
We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.
My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.
Proof was in black and white she could make payments.
About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.
Feel lost No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....
I'm sorry that you're so down about it, and I don't think you need to be. Sure, it would have nice if your plan had come off, but Australia is still here and you can still visit for several months a year. Sounds as though you have enough on your plate without letting this crush you - pick yourself up, dust yourself off, and get to work on plan B. Best of luck to you and your fiancée.
#5
Re: Arrrrrrrrrrrrrgghhhhh feeling rubbish
Perhaps a move to the South of France might be more do-able in the short term.
I know you were only thinking of short visits to Aus but you'd have to be pretty well heeled to go 6 months without working if that's what you had in mind. Also, with an incapacitating disability your chances of getting permanent residence are seriously limited so you would be restricted to tourist visas. As you are foreign did you get permission to even think about buying a house?
I know you were only thinking of short visits to Aus but you'd have to be pretty well heeled to go 6 months without working if that's what you had in mind. Also, with an incapacitating disability your chances of getting permanent residence are seriously limited so you would be restricted to tourist visas. As you are foreign did you get permission to even think about buying a house?
#6
Lost in BE Cyberspace
Joined: Dec 2010
Posts: 14,040
Re: Arrrrrrrrrrrrrgghhhhh feeling rubbish
As I investigated for the UK you will probably need to find a mortgage broker who specialises in non resident loans. Not easy to find.