chmaiden

Hi guys
was reading in a book that they recommend getting a mortgage in principal with an aussie bank whils tin employment in the UK - just makes things easier when you arrive - any thoughts? anyone done this?
cheers

Australia_bound?

Not heard of this one before as once in Aus the majority could have no job/income for a certain period!

Geelong Gent

When in the UK our then babysitter had arranged a loan from a UK bank (she used to work for halifax but not sure if this was the bank she took out the loan). She bought an apartment in Perth on an investment basis, she put down about 30 or 40% deposit on top of paying purchase costs.

Mark_Rigby

Hi, it's possible to organise a mortgage and purchase property in Australia (as an investment) before moving, based on your UK income etc. You need at least 25% of property value to cover deposit and purchase fees. You need to obtain approval from the Foreign Investment Review Board though. I wouldn't think that there would be any problem should you then decide to live in this property at a later stage.

I can't imagine that a pre-approval would work from the UK before moving, unless you are being transferred to Australia by your employer. I'd be interest to hear if anyone has been successful in doing this though.