matt-and-jenny

I'm sure this has been answered before in other threads, but I was hoping someone could shed some light on our situation.

I'm a Permanent Resident, returning to Aus, and Matt is going over on a de-facto spouse visa, which is temporary for 2 years, then permanent. We would like to buy a house as soon as we are settled into jobs - we are hoping 6 months - 1 year.

Can we apply for a mortgage together when Matt has a temp visa? Will we get our first time buyer's grant. Anyone got any recomendations for mortgage lenders know about this?

Thank you in advance!

ABCDiamond

I asked a local broker this question a few days ago:

Q: With a couple, where one is Temporary Spouse Visa holder, and the other an Australian Permanent Resident or Citizen, are they able to get a mortgage, and have the temp visa holders income taken into account ?

The answer was:
A: Yes we can use the temp visa holders income

The Broker is:
Moreton Bay Property Financial Services
Victoria Point QLD
Tel: (07) 3207 8331
Fax: (07) 3207 8864

Simone

Oh, good one ABCD!

Hmm, I wonder why 'Vegemite Kids' couldn't get it.... I thought at the time it might be because he is not only on a temp visa, but also an apprentice, but I think Mairi said that wasn't the factor.
I'll ask them again saturday. Could also vary from bank to bank.
And I'll get my own butt in gear and make an appointment with the bank!
At least we both have permanent jobs.

ABCDiamond

I'd like to hear that someone does actually get a mortgage based on that.

Maybe this one broker knows one lender that does accept, and the others don't ?

It doesn't matter what area anyone lives in, they can use any broker anywhere in the country. It's just a case of posting the paperwork.

TrickyTree

Hi Matt and Jenny

I am in exactly this position on a de-facto spouse visa with my other half being the Aussie.

My salary could be included in all the calculations except I was on 3 months probation from my job. Luckily we could borrow all we needed on my partners wage.

So I would say get the probation period out of the way and then apply for the mortgage if you need both salaries to borrow against.

TT

JayDeee

I was also told that the deposit would have to be higher than usual by quite a few mortgage lenders round here. I think the max we could borrow was 60%.

Cheers
Kala

Simone

Yep, but in our case, I want to be able to choose from all the mortgages, and I don't think I want a mortgage broker.
If it's not possible, we'll just wait until next year, but not everyone is in the same situation.

Simone

Yep, that's what I also meant by having choice etc. I'd rather wait until next year of this is going to be the case for us

MrsDagboy

Im an aussie, Dagboy is a temp resident (now temp spouse, but at the time we got our mortgage he was on a 4 year 457), we got a mortgage on HIS income alone, I didnt even have an income! We got our mortgage through Commonwealth Bank, in the end we did manage to scrape 20% deposit together, although they were happy to lend to us if we didnt have the 20%, we just had to take out mortgage insurance of some kind. Our only advantage was that he had worked for the company for about 3 years (he transferred from the UK, 18 months in each country) & wasnt on contract or probation.

Someone else posted a couple of weeks back about getting a mortgage on a temp visa & with less than 20% deposit, so we arent the only ones.

andrew63

I am on a 457 term visa (3 yr), wife unemployed, got a mortgage with NAB within 2 weeks of arriving. They asked for 20% deposit but we stumped up 33%.

Andrew

owieb

We were both on temp 457 visa when we got our mortgage through WestPac. They wanted at a minimum of 20% deposit, but we put down about 30% to show willing!

pako

My husband is an Aussie, I'm on a temp. residency visa (stage 1 Marriage visa), National Bank have written to us and said that my visa status will not affect our borrowing capacity. They suggested we put down 20% or if it is less we will have to pay insurance.

Kathy

matt-and-jenny

Thank you all for your replies. Matt and I will have very little as deposit, as it will be our first mortgage.
We assumed that we would both have to be in jobs at least 6 months before anyone would entertain giving us a load of money.

matt-and-jenny

Did anyone get a first home buyers grant?

Pollyana

We got fed up with being told to either a) earn more, b) put down at least a 20% deposit, and/or c) get PR instead of Temp spouse. That included the National Bank by the way - they laughed us out of the door!!!
But now we are renting the best house in Brisbane so I can ignore the banks - I know people say rent is dead money, but if it gives you happiness, thats what matters. Sod getting a mortgage