Can a permanent resident get finance?
Apr 5th 2005, 8:39 am
#1
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Thread Starter
Joined: Mar 2004
Posts: 44
Can a permanent resident get finance?
Firstly , great forum!
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Apr 5th 2005, 8:47 am
#2
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Joined: Dec 2003
Location: Tyabb, Mornington Peninsula, Victoria, Australia
Posts: 563
Re: Can a permanent resident get finance?
Originally Posted by gingerlion
Firstly , great forum!
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Andy
Apr 5th 2005, 8:52 am
#3
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Thread Starter
Joined: Mar 2004
Posts: 44
Re: Can a permanent resident get finance?
But in the UK I wouldnt be able to borrow without a credit history/credit score whether or not I had a large enough income. Would I encounter this problem if I had only been a PR for a short time?
Apr 5th 2005, 8:55 am
#4
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Location: Tyabb, Mornington Peninsula, Victoria, Australia
Posts: 563
Re: Can a permanent resident get finance?
Originally Posted by gingerlion
But in the UK I wouldnt be able to borrow without a credit history/credit score whether or not I had a large enough income. Would I encounter this problem if I had only been a PR for a short time?
No, everyone who emigrates will have no credit history on arrival. The system is set up with this in mind and as long as you meet the required criteria you can get credit/finance.
Andy
Apr 7th 2005, 1:20 pm
#5
Forum Regular
Joined: Jul 2003
Posts: 190
Re: Can a permanent resident get finance?
Originally Posted by gingerlion
Firstly , great forum!
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Secondly my question:
Ive got a PR visa and intend to move to Melbourne from London in the coming months (not that ive ever been to aus but i thought what the hell)..
Im wondering if a PR can get finance from banks in the form of a mortgage for a house. I take it I will have no credit score in OZ so they will not lend to me until Ive lived there for a while? Maybe not until im a citizen? Is this the case?
Also I have 150,000 aussie dollars. Is this enough for me and my girlfriend to start up a cafe/bar/restaurant type establishment? We would consider moving to WA if this is not enough capital to start a busines in Melbourne.
any help greatly appretiated
GL
Apr 7th 2005, 2:09 pm
#6
High in the Dandenongs
Joined: Apr 2003
Location: Listening to Puffing Billy
Posts: 9,183
Re: Can a permanent resident get finance?
Try www.realestate.com.au they have a businesses for sale bit in there.
Finance was no problem once we got work. We also got a credit card asap too to start building a credit rating.
Finance was no problem once we got work. We also got a credit card asap too to start building a credit rating.
Apr 8th 2005, 12:28 am
#7
Guest
Posts: n/a
Re: Can a permanent resident get finance?
Originally Posted by gingerlion
But in the UK I wouldnt be able to borrow without a credit history/credit score whether or not I had a large enough income. Would I encounter this problem if I had only been a PR for a short time?
If anyone wants to check on their own credit history rating, look here:
http://www.mycreditfile.com.au/
and go right to the bottom of the page to see the details of the FREE service
