Australian Government Bond
Mar 1st 2004, 1:37 pm
#1
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Australian Government Bond
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Mar 1st 2004, 3:36 pm
#2
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borrow on the house i guess...if the increase in the mortgage can be sustained by the rent you will be getting on it while your out of the country...assuming you are intending to rent it out...
Mar 1st 2004, 8:13 pm
#3
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Not intending to rent once we have everything sorted in Oz we shall sell up and move out there.once visas are validated hopefully jobs sorted housing schools etc.
Mar 1st 2004, 8:43 pm
#4
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Surely we are not the only ones in this situation?
Mar 1st 2004, 9:39 pm
#5
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We used an Openplan re-mortgage with the Woolwich.
Basically you can borrow up to 90% of the equity in your house, its put in an account
but you dont actually have to pay anything back until you draw the money out. So it sits there until you need it for the bond....Perfect.
Basically you can borrow up to 90% of the equity in your house, its put in an account
but you dont actually have to pay anything back until you draw the money out. So it sits there until you need it for the bond....Perfect.
Mar 1st 2004, 9:48 pm
#6
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Re: Australian Government Bond
Originally posted by Dreamaway 10
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
You wanted the extra 5 points and u agreed 100k pay up ! simple as, its not hard economics if u havnt got it u gotta get it !!
Mar 2nd 2004, 11:10 am
#7
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Re: Australian Government Bond
Hi there
We are in the same situation, and need the $100,000 investment. Fortunately, we have savings which cover this, as we didn't want to sell our home either. Although we are in the early stages of our application, it appears that you do not need to lodge the bond until you are in the very final stages of PR visa acceptence anyway, so dependent on when you are expecting your visa to be granted, you have loads of time to organise yourselves financially. Friends of ours had to sell their house to raise funds......ultimately, you will get what you want, and this is what you need to focus on, whatever you have to do to get it!!!
We are in the same situation, and need the $100,000 investment. Fortunately, we have savings which cover this, as we didn't want to sell our home either. Although we are in the early stages of our application, it appears that you do not need to lodge the bond until you are in the very final stages of PR visa acceptence anyway, so dependent on when you are expecting your visa to be granted, you have loads of time to organise yourselves financially. Friends of ours had to sell their house to raise funds......ultimately, you will get what you want, and this is what you need to focus on, whatever you have to do to get it!!!
Originally posted by Dreamaway 10
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Mar 2nd 2004, 11:39 am
#8
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Can you get a bridging loan for the time being until you have to sell your house?
Mar 2nd 2004, 1:14 pm
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Originally posted by pompeywill
We used an Openplan re-mortgage with the Woolwich.
Basically you can borrow up to 90% of the equity in your house, its put in an account
but you dont actually have to pay anything back until you draw the money out. So it sits there until you need it for the bond....Perfect.
We used an Openplan re-mortgage with the Woolwich.
Basically you can borrow up to 90% of the equity in your house, its put in an account
but you dont actually have to pay anything back until you draw the money out. So it sits there until you need it for the bond....Perfect.
Mar 2nd 2004, 5:12 pm
#10
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Re: Australian Government Bond
Originally posted by Dreamaway 10
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Just wondering, we are having to invest in an Australian Government Bond for twelve months and do not want to sell our house to raise the cash if at all possible.Has anyone any other ideas apart from robbing a bank! on how to get there hands on the money for twelve months?.I am led to believe that you can borrow as a short term investment or maybe remortgage.Is anyone else in the same situation as we desperatly need those extra 5 points and this is the only way.Advise would be much appreciated.
Thats nice of them, seeing as we would have tons left over, needless to say we are now up for sale, expecting to move into rented. Not a happy bunny.
Jenny
Mar 3rd 2004, 11:59 am
#11
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Hi there,
We are in exactly the same situation and have already spoken to our mortgage company (Direct Line) who have agreed that we can borrow the additional amount on top of our existing mortgage.
Of course this means that our monthly mortgage payments will increase but once the house is eventually sold then the mortgage will be paid off anyway.
It's the only way that we could see of doing it. I've looked all over the house to see if there was $100k lying around anywhere but didn't have any luck
We are in exactly the same situation and have already spoken to our mortgage company (Direct Line) who have agreed that we can borrow the additional amount on top of our existing mortgage.
Of course this means that our monthly mortgage payments will increase but once the house is eventually sold then the mortgage will be paid off anyway.
It's the only way that we could see of doing it. I've looked all over the house to see if there was $100k lying around anywhere but didn't have any luck
Mar 3rd 2004, 12:04 pm
#12
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We to are also with Direct Line so I think I shall do the same did you tell them what it was for?
