FRIB question
 

Does anyone know-if you are on a temp visa,do you have to have been resident in Oz for twelve months before the FRIB wil give you permission to buy a house? Have just had a look at their website, and thisis how it seems to read.

Re: FRIB question
 

Hi,
Not that I am aware of we bought a house within 3 days of arrival (our dwelling) and then we had a house built 12 months later as an investment property.

Nick

Re: FRIB question
 

No you don't.

I presume you are aware of other impacts of buying a house while on a temp visa; you will lose LAFHA (if you have it); you will likely need a 20% deposit on the house (bank requirement not FIRB requirement); you must state on your contract for the house that FIRB consent is a condition; you will not be eligible for the First Home owners grant ; you could be required to sell your house if you leave the country (if still on temp visa).

Re: FRIB question
 

Thanks:).I'm asking for someone who's still in the UK,we have PR so none of this hassle when we went to buy!

Re: FRIB question
 

Hi

I asked this question a while back and I remember getting one response from somebody that had got approval very soon after landing. We are on a temp visa (SIR) and are currently going through the process. The application has been in 3 weeks on Monday but they have to give us a decision within 30 days I think. Our mortgage broker said it won't be a problem.

Re: FRIB question
 

[QUOTE=SJR;4833510]Hi

The application has been in 3 weeks on Monday but they have to give us a decision within 30 days I think. /QUOTE]

G'day

I think you need to phone them and find out about the delay. My clients are getting an answer within a week.

Re: FRIB question
 

[QUOTE=BullcreekBob;4834859]Hi

Our real estate agent has rang them loads of times and last week they asked her to stop ringing them. That's worrying though, I wonder why it is delayed. I can't see any reason why ours would be a problem though, we have more than a year left on the visa and we haven't done anything wrong! Thanks anyway, I think I will call them myself.

Re: FRIB question
 

[QUOTE=SJR;4835699]Talk to "Vanessa" she managed to get a result in the last few weeks

Re: FRIB question
 

[QUOTE=Geelong Gent;4835714]will do, thanks.

Re: FRIB question
 

We have bought under a temp visa. the rules for FRIB are (for us and I am sure this is the same for all)
It is our main residence, We are not allowed to rent it out, and we must sell if we leave the country.
You only need FIRB to buy a 'second hand' Property, so you can buy brand new, or buy land and build without FIRB, or buy a property in a resort like Hope Island were all the properties are FIRB approved. We have not come across anyone that that has not got FIRB approved.
We were told that if you chase the FIRB they only get your file and put it at the bottom of the pile. NOT true, we applied for one of our clients and had a response back in 24hrs, others have taken a week or so, maybe it's a case of who you know;)

Re: FRIB question
 

FIRB rules are the same throughout Australia.

You DO need FIRB permission to build brand new or buy land.