Buying Property

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Sep 24th 2003, 10:10 pm

#16

owieb

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Posts: n/a

Quote:

Originally posted by bondipom
emmahafryn

I don't know about your finances but you wil need a 20% to 30% deposit at least as a temporary visa holder. Even then I am not sure what the banks will think of lending to a WHV visa holder as by definition you are not going to be staying in Australia.

A $500,000 property will also attract around a $20000 in fixed charges (according to mortgage broker I spoke to last weekend).

We required a 20% deposit otherwise we'd have to take out an expense insurance policy and the fees on a $578,000 property was $34,000 (stamp duty, settlement agent etc etc), infact you even have to pay your yearly council rates during the settlement!

Sep 24th 2003, 10:12 pm

#17

spuds

Homeward Bound

Thread Starter

Joined: Apr 2003

Posts: 435

Hello TennisOz,

We are moving to Thornbury initially to stay with a friend for a few days but then we are moving in to a beautiful flat in Hawthorn East. I don't actually know an awful lot about the place to be honest so any info gratefully recieved!

Sep 24th 2003, 10:45 pm

#18

bondipom

Joined: Aug 2003

Posts: 11,149

bondipom is an unknown quantity at this point

Quote:

Originally posted by emmahafryn
Bondi, apology ( I think!) accepted, and I do value your advice. We do not intend to borrow at all off the bank so don't think that is a problem and First Direct said no probs to HSBC Oz bank acc with Oz address (already have rental property) they are aware that we are on WHVs.

As I said, I don't intend to do anything without professional advice and it might never happen but I would be lying if I said I wasn't seriously considering it.

Thanks for your help. Why is life treating you so shite at the moment anyway?

Work not going the way I want, tired and there is no surf to work it all off.

Sep 24th 2003, 10:48 pm

#19

tennisoz

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Posts: n/a

Quote:

Originally posted by emmahafryn
Hello TennisOz,

We are moving to Thornbury initially to stay with a friend for a few days but then we are moving in to a beautiful flat in Hawthorn East. I don't actually know an awful lot about the place to be honest so any info gratefully recieved!

Emma

Nice area Hawthorn East, one of the 'leafy' suburbs to the east of the city centre - 4 to 5 miles at a rough guess. There is an excellent range of shops, restaurants, cafes, supermarkets, schools etc locally - Burke Road is very popular for most of the above. Public transport is excellent with regular train and tram service nearby and outside of peak hours it is only 10 minutes approx to the city centre.

I used to play tennis at a big club near there called Grace Park but it is in Hawthorn itself so I guess you'll be a mile or so east of there. You will have to support Hawthorn Football Club (Aussie Rules)!

You are probably familiar with domain.com.au for the Melbourne property market? I also use theage.com.au a lot and it has links to the job market, tourism sites, restaurant reviews etc, etc.

Let me know if you need to know anything else.

Good luck.

TennisOz