Buying Australian Property on UK income
Nov 8th 2005, 11:45 pm
#1
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Thread Starter
Joined: Mar 2004
Posts: 44
Buying Australian Property on UK income
Hello all,
I currently work in London and am a UK citizen with an Aus PR visa.
I was wondering if it was possible to use my income in London to purchase a property in Australia. Has anyone done this using a UK mortgage lender? Has anyone done this when working as a contractor?
Cant find anything on the web about this..
Moving to Melbourne in January, Cheers
GL
I currently work in London and am a UK citizen with an Aus PR visa.
I was wondering if it was possible to use my income in London to purchase a property in Australia. Has anyone done this using a UK mortgage lender? Has anyone done this when working as a contractor?
Cant find anything on the web about this..
Moving to Melbourne in January, Cheers
GL
Nov 9th 2005, 3:27 am
#2
Banned
Joined: Jul 2005
Posts: 746
Re: Buying Australian Property on UK income
Originally Posted by gingerlion
Hello all,
I currently work in London and am a UK citizen with an Aus PR visa.
I was wondering if it was possible to use my income in London to purchase a property in Australia. Has anyone done this using a UK mortgage lender? Has anyone done this when working as a contractor?
Cant find anything on the web about this..
Moving to Melbourne in January, Cheers
GL
I currently work in London and am a UK citizen with an Aus PR visa.
I was wondering if it was possible to use my income in London to purchase a property in Australia. Has anyone done this using a UK mortgage lender? Has anyone done this when working as a contractor?
Cant find anything on the web about this..
Moving to Melbourne in January, Cheers
GL
Nov 9th 2005, 4:21 am
#3
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Joined: Aug 2005
Posts: 1,999
Re: Buying Australian Property on UK income
Originally Posted by Lewis Lapthorn
I've enquired about this to many overseas mortgage lenders, and to my knowledge, there are no lenders at present that will give you a mortgage from the UK to buy a property in Oz.
Nov 9th 2005, 4:41 am
#4
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Joined: Jun 2005
Posts: 671
Re: Buying Australian Property on UK income
Originally Posted by tableland
Or everyone would be doing it.
Nov 9th 2005, 4:48 am
#5
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Joined: Apr 2005
Location: Sydney soon
Posts: 296
Re: Buying Australian Property on UK income
Hi,
I was led to believe that you could,the way we could do it is if you buy the property as a "holiday investment property" and then switch the mortgage to an Aussie one when you are out there and qualify, we found some companies a few weeks ago and as long as you could put down a deposit (35% comes to mind) they would lend to you. I will have a google around and see if I can find it, if not I will ask my husband when he gets home. He is a contractor as well and it is something we have been thinking about as well as it will be hard to get a mortgage as a newly landed self -employed person.
I was led to believe that you could,the way we could do it is if you buy the property as a "holiday investment property" and then switch the mortgage to an Aussie one when you are out there and qualify, we found some companies a few weeks ago and as long as you could put down a deposit (35% comes to mind) they would lend to you. I will have a google around and see if I can find it, if not I will ask my husband when he gets home. He is a contractor as well and it is something we have been thinking about as well as it will be hard to get a mortgage as a newly landed self -employed person.
Nov 9th 2005, 4:54 am
#6
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Joined: Apr 2005
Location: Sydney soon
Posts: 296
Re: Buying Australian Property on UK income
