FRIB question
May 24th 2007, 2:21 pm
#1
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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.
May 24th 2007, 11:55 pm
#2
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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
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
May 25th 2007, 12:40 am
#3
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Re: FRIB question
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).
May 25th 2007, 4:11 am
#4
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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).
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).
.I'm asking for someone who's still in the UK,we have PR so none of this hassle when we went to buy!
May 26th 2007, 9:19 am
#5
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Re: FRIB question
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.
May 26th 2007, 5:56 pm
#6
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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.
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.
May 27th 2007, 12:10 am
#7
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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.
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.
May 27th 2007, 12:16 am
#8
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Posts: 4,079
Re: FRIB question
[QUOTE=SJR;4835699]
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.
Talk to "Vanessa" she managed to get a result in the last few weeks
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.
May 27th 2007, 3:43 am
#10
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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
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
May 27th 2007, 4:13 am
#11
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Joined: Oct 2006
Location: Bull Creek
Posts: 164
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
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
You DO need FIRB permission to build brand new or buy land.
