Bond and applying for mortgage
 

Hello guys :)
we have invested $100,000 in WA Bonds as part of the visa point system. Does anyone have the foggiest idea :confused: if we can count this bond as part of our deposit/capital when applying for a mortgage (our bond matures in November)? We are renting in WA currently and are looking to buy our first property. cheers :beer:

Re: Bond and applying for mortgage
 

not sure to be honest but i have pm'd you contact details from someone who will be able to tell you.

Lynn

Re: Bond and applying for mortgage
 

Hi,
we also invested $100,000 in bonds for points reasons and thought it would act as security for mortgage. The banks said no as although it was in a government bond and it would be highly unlikely that we wouldnt get our money back, they work on the possibility that if there was some major catastrophe and the government needed the money you wouldnt have it.
we got the mortgage anyway on the strength of the deposit we had seperate and my job. When we got the bond money back we just paid off the mortgage we owed

Nick

Re: Bond and applying for mortgage
 

Thanks guys for the prompt replies! Have sent you a pm Lynn. The first bank we tried didn't honestly know so we'll try elsewhere and let you all know. Cheers :beer:

Re: Bond and applying for mortgage
 

When we did our mortgage it was all taken into account as assets we had, they even included the interest as earnings. We used commonwealth if that helps at all.
Jenny