Buying property on de facto visa (within 2 year 'probationary' period)
Jan 20th 2003, 5:18 am
#1
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Joined: Jul 2001
Location: From England. Moved to Adelaide Nov 2000
Posts: 432
Buying property on de facto visa (within 2 year 'probationary' period)
My boyfriend and I are very excited to have been offered the opportunity to buy the place we've been renting nearly 2 years.
Quick summary of my status: Boyfriend is Aussie. In November I will have had my de facto visa for 2 years and will get permanent residency (can't see any reason why not).
We've have spoken with one mortgage broker and they seem to think that I won't be eligible to borrow. The next one I spoke to said I wouldn't even be able to have my name on the title, and most likely can't have my name on the mortgage as well.
Has anyone got any advise on this matter? I don't mind waiting till November to get my name put on the loan and title, but it will cost about $300 to do so, does anyone know a lender who doesn't require permanent residency? (I can work as if I've got PR).
From what I can gather from the Foreign Investment Review Board I am allowed to own property without seeking their approval.
Cheers, Nara
Quick summary of my status: Boyfriend is Aussie. In November I will have had my de facto visa for 2 years and will get permanent residency (can't see any reason why not).
We've have spoken with one mortgage broker and they seem to think that I won't be eligible to borrow. The next one I spoke to said I wouldn't even be able to have my name on the title, and most likely can't have my name on the mortgage as well.
Has anyone got any advise on this matter? I don't mind waiting till November to get my name put on the loan and title, but it will cost about $300 to do so, does anyone know a lender who doesn't require permanent residency? (I can work as if I've got PR).
From what I can gather from the Foreign Investment Review Board I am allowed to own property without seeking their approval.
Cheers, Nara
