Jonahs_mummy

Anybody any ideas?

steve-n-jo

No it doesnt...

Which can be good or bad. On arrival nobody has any credit rating this has to be earned.

Steve

Jonahs_mummy

Mmmm thats what I feared - really makes you look back & wonder why you were so good........... (or not LOL)

Cheeky

I hope so!

Mine must be outstanding!!..........

Cant save though, thats my prob...

Cheeky
x
PS Merry Xmas!!!!

melbournehelp

You get a clean sheet...!

bondipom

Your UK credit history is not accessible to Australian banks, however an outstanding debt can be chased in Australia.

steve the man

what like being dishonest enough to run away from an outstanding loan?

lauralollipop

oh how tempting, i might just forget to pay that massive gas bill i'll get for my heating before i go!! LOL

jensteve

Had a conversation with the mortgage guy at the bank only a couple of weeks ago, I asked him this question.
No credit history comes with you.
A bank in Australia cant ask another bank over here if your a good bet or not.
There is a credit register sort of thing but only for bad payers.
He also said there was no sort of rating system for good payers at all.

So basically you don't build a rating over here at all, as long as you pay your bills you are considered a good bet, and because they can't see your other assetts etc it makes it great when you want a mortgage. We are applying for one, the bank guy wants to see money going into the account weekly to show we can pay, but because he can't see our other bank account he has no idea that at present we are probably overspending. We are still buying new bits for the house so we are spending more than what comes in. Another fridge and freezer today!

Hope this helps

Jenny

Happy Hayley

Does this also mean that if we have a credit card we can not tell the mortgage company we have one? Can they find out if we have one?
We want to get a mortgage, have plenty of earning power but not a lot of deposit just yet, but dont want to have our borrowing power reduced by the amount of credit card limit, which is $15,000 at the moment.

madsad

Can anybody be honest here?,Who has ran away from debt & been chased in 0z for it at some point down the line?

Would anybody be brave enough to own up?

Yeah,we have debts but managable debt(doesnt every young family these days have?) that will be paid before we go,as we couldnt cope with the thought of "running away" from it.
I know that without selling our house ,there is no way we could afford to pay off our debts & fund our new life in Oz but if we stayed here we would just get by with what we have,as we have done over the past years.

To me, i think if i did run away from debt i would always be waiting on that day when someone knocked on my door & said you owe me ££ :scared:

Fair play to the ones who do get away with it,(not that i agree with what youve done)i just couldnt do it.

Donna.

Multicoloured Crocodile

You'll have to start again from scratch out here. The first thing we did was sign up for a credit card and we put alot of our start up costs on it then paid the lot off in full later.
Beware though! Oz banks have high interest rates and charge you if you fart

Happy Hayley

making this post to put it up at the top in the hope someone may know the answer.

Jonahs_mummy

Looks like i have opened a right can of worms here! LOL

I wasn't asking coz I want to run away from debt, I was asking coz it seems daft that we have worked hard to build a credit history in the UK and now have to redo it when we get to Aus.... I guess for those people who needs a fresh clean start it is a great thing though!

Question... Can you apply for credit cards as soon as you arrive or do you need to prove you have funds going into the bank regularly for a period of time before you can apply?

lauralollipop

We have lots of small debts topay off before we go,utility bills, couple of credit cards andover draft, amounting to about £3000.00,i wanted to be honest and settle them all before i went, but if it doesnt do you much good in aus, then i might forget to pay them, but only thing is what will happen ifi should ever come back here, will the loan sharks be after us??

Oh wish i never read this now, as sooo tempting, £3000 would go along way to helpme set up in aus, but i am cowardy custard.....what do you think? come on somebody own up, someone must have tried this before!!!!

LOL

Laura
xxx