Re: employment/ morgage?
Originally Posted by killamarsh
(Post 4748481)
Does anyone know how they calculate what you can have? If one person is on say 60k and has a 30k deposit how much could they borrow?
Originally Posted by gemz
(Post 4748529)
hi i dont really understand any of this, can you get approved for a mortgage before you leave england? Do you need a permenant address in Oz b4 you can get a mortgage? Is it best to rent somewhere for 6 months have jobs then look at property? We should have a miimum income of about 52000aud how mmuch would we be able to borrow on a 100% or 95% mortgage?
thanks On $56k we could have borrow up to about $250k (different figures from different banks), we were offered either a 95 or 100% mortgage. If you borrow more than 80% there will be mortgage insurance as well, but they usually add it onto the loan. Ours was $3500 on $225k |
Re: employment/ morgage?
Originally Posted by CathnPaul
(Post 4748930)
The courses I have emailed are home courses (like flexistudy/openuni course), can do them from 6months - 2 years dependant on the amount of hours put in.
It may even look good on my CV to say 'working towards it' plus some companies can put you on the courses and pay for it..so not sure if to sign up as soon as possible after landing or to see how the job side goes. In the past week I've signed up 11 people for Certificate courses and just gone through the process with them all. Got another 5 coming in today for the same. |
Re: employment/ morgage?
Originally Posted by CathnPaul
(Post 4748930)
The courses I have emailed are home courses (like flexistudy/openuni course), can do them from 6months - 2 years dependant on the amount of hours put in.
It may even look good on my CV to say 'working towards it' plus some companies can put you on the courses and pay for it..so not sure if to sign up as soon as possible after landing or to see how the job side goes. |
Re: employment/ morgage?
Originally Posted by killamarsh
(Post 4748481)
Does anyone know how they calculate what you can have? If one person is on say 60k and has a 30k deposit how much could they borrow?
|
Re: employment/ morgage?
Originally Posted by aston man
(Post 4748896)
hey mark,could i please ask,what qualifications do you need to be a mortgage broker in oz...?
thank you |
Re: employment/ morgage?
Originally Posted by gemz
(Post 4748529)
hi i dont really understand any of this, can you get approved for a mortgage before you leave england? Do you need a permenant address in Oz b4 you can get a mortgage? Is it best to rent somewhere for 6 months have jobs then look at property? We should have a miimum income of about 52000aud how mmuch would we be able to borrow on a 100% or 95% mortgage?
thanks http://www.planabettermortgage.com.au/ If you have a minimum deposit, then you are likely going to need to be in employment for 6 or months or so, before being successful with a mortgage application. You can get a mortgage to buy property here while still in the UK. You don't need to have an Australian address. You are classed as a non-resident, you can obtain up to 80% of the property purchase price as an Australian mortgage. You do however need to get Foreign Investment Board approval to purchase property. This may upset an application for permanent residence, not sure on that one. |
Re: employment/ morgage?
Originally Posted by Mark_Rigby
(Post 4751505)
Try this calculator. It's more in depth than most online calculators and should give you an ideal of borrowing potential. As far as the deposit goes. You should aim for at 5% deposit if you can (no deposit loans are available though) and put aside around 7% of the property purchase to cover purchase and mortgage costs.
http://www.planabettermortgage.com.au/ |
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