Buying property
 

I know this question has probably been asked b4, but how long is it b4 you can buy a house upon entering Aus. Have had mixed feed back from people i know so would appreciate it if someone could fill me in.
P.s going as a independant skilled hopefully to melbourne.

:D ;)

Re: Buying property
 

[QUOTE=woody1974]I know this question has probably been asked b4, but how long is it b4 you can buy a house upon entering Aus. Have had mixed feed back from people i know so would appreciate it if someone could fill me in.
P.s going as a independant skilled hopefully to melbourne.

Dont think there is a time limit as such as long as you have a PR visa...Thats assumming you are not actually talking about how long until you can get a mortgage

Re: Buying property
 

Dont think there is a time limit as such as long as you have a PR visa...Thats assumming you are not actually talking about how long until you can get a mortgage[/QUOTE]

well hopefully goin out with 250/300k aussie but have 2 put up the bond for a yr so may need a mortgage to get me through that stage.
cheer for the help anyway all info gratefully sponged up

:D :D

Re: Buying property
 

well hopefully goin out with 250/300k aussie but have 2 put up the bond for a yr so may need a mortgage to get me through that stage.
cheer for the help anyway all info gratefully sponged up

:D :D[/QUOTE]

once u have ur PR visa there is no wait....and with all that dosh sitting in the bank u will have no probs getting one either, for ease we took out our mortgage initially with the bank we have all our money in, but I will review that soon and may change it

Re: Buying property
 

I'll agree with that, if you have about a 40% deposit, and a job, or even a confirmed job offer, you can often get a mortgage immediately. You may need to use a Mortgage broker, to help find the best lender though.

Re: Buying property
 

Just wanted to recommend the people that we have just used for our mortgage. They were recommneded by our estate agent and have been supportive and educational from my first call to them. They have procured on our behalf a really good mortgage product without a shocking interest rate as we are 'new' and have no accounts.

They pride themselves on the word and mouth and no advertising and having had the pleasure of dealing with them I can understand this.

Please find their details below: They are happy to answer ANY questions regarding house purchasing in Oz or mortgages - even if you didn't end up going with them they are happy to help.

Moreton Bay Property Financial Services (Proudly 4th Generation in the Redlands)
Neville Hayes Janette Hayes
B.Econ.FAIBF.JP (QLD) Com.Dec
Mobile 0419 652 338 Mobile 0417 770 973
Email: [email protected]
Tel: (07) 3207 8331
Fax: (07) 3207 8864

If your buying - give them a try. :p ;)

Regards

Tracey

Re: Buying property
 

We have only been here 11 weeks; we bought a house last week after getting a mortgage from the Commonwealth Bank. We only had the minimum deposit, but we had no problems at all – conditional approval in twenty minutes – mortgage offer in the post the next day.

Molly

Re: Buying property
 

Hi
I bought a house within 4 months on a Defacto Spouse Visa - so not even a Permanent Resident yet. As I understand, anybody can buy a house in Oz. You don't have to live here and you don't have to be resident. How else would rich people and property investors own houses all over the world? It would be bad for the aussie economy to refuse people investing in real estate due to Nationality issues.
Cheers

Re: Buying property
 

We have been in Melbourne for 6 weeks and went to see a mortgage broker at Wizard tonight.

We have $300k as a deposit and want to borrow about $250k. I have a 6 month full time contract and my partner starts work on Monday (but not enough to borrow $250). Basically he said that if we had temporary contract it had to be at least 12 months long and no probationary period. Permanent employment without probationary would be better, although as new arrivals an Australian bank could not check our UK credit history it might be more difficult to find a lender

I came home feeling a bit fed up. If anyone can suggest another way, I’d be very glad to hear it.

Cheers

Lisa

Re: Buying property
 

Lisa,

I can completely appreciate how fed up you must be feeling. Give the people we used a call, we are in a similar 'ish' situation. Hubby's a tradie, on contract work. So NO contract, no regular work 'potentially', although we have faith that this won't be the case. So, we put down 40% and got a mortgage through the brokers above, they have such a good knowledge of the industry and the money products available, although your might not be local to them I feel they could still help. Give them a try, we did and complete on the 12th!

Good luck, the CWB couldn't help us either for the same reasons, I don't feel you need to give up!

ALSO: Your putting over 50% down - give the guys in my post above a call

Tracey

Re: Buying property
 

I agree with ozzydogs post. Don't worry about the distance between you and the broker. Let me know how you get on, as these brokers live just around the corner from me, and it would be good to have someone else I can recommend.
:)

Re: Buying property
 

Thanks for your responses, I'll give the brokers a call and let you know how I get on.

Lisa

Re: Buying property
 

The same goes 4 me everyone thanks for the info, has made it more clear now. Hopefully will get something sort later this year.

Cheers again all

:D :D

Re: Buying property
 

I suggest you take a look at http://www.firb.gov.au



Jeremy

Re: Buying property
 

The FIRB site states

Q6. I am a foreign person living in Australia on a long stay, temporary resident visa. Do I need approval to buy an established house to live in?

A. Yes. Foreign persons temporarily resident in Australia for a period exceeding 12 months from the time of application for approval are eligible under foreign investment policy to acquire residential real estate. If the property being purchased is an established dwelling, that is, one that has been previously occupied or sold, foreign investment approval is still available provided that the dwelling is to be used as the person’s principal place of residence, not for rental purposes and the property must be sold when their visa expires or they cease to reside in Australia.

Q18. I am an Australian citizen, but my spouse / de facto partner is a foreign person, do we require permission to purchase a house?

A. Australian citizens and their foreign spouses (which include de facto partners) are exempt from notification as long as the property is zoned residential and you are buying the property as joint tenants.

http://www.firb.gov.au/content/faq.asp