Getting a mortgage using foreign income?
Oct 6th 2009, 10:29 am
#1
BE Enthusiast
Thread Starter
Joined: May 2007
Location: Peregian Springs, Sunshine Coast
Posts: 579
Getting a mortgage using foreign income?
Just querying anyone in the know....
* We have foreign income from the rent of our properties that we have not managed to sell
* We started our own company in Aus i.e. self employed
RAMS has said it is not possible for us to get a mortgage using the foreign income and needs TWO years of tax returns on our business before they will consider us. Alternatively 6 months of a payslip from an employer.
Does anyone know if this is it for us, or should we continue searching until someone will finance us? We can put down approx. 20% deposit.
Any advice would be welcome
Nix
* We have foreign income from the rent of our properties that we have not managed to sell
* We started our own company in Aus i.e. self employed
RAMS has said it is not possible for us to get a mortgage using the foreign income and needs TWO years of tax returns on our business before they will consider us. Alternatively 6 months of a payslip from an employer.
Does anyone know if this is it for us, or should we continue searching until someone will finance us? We can put down approx. 20% deposit.
Any advice would be welcome
Nix
Oct 7th 2009, 7:14 am
#2
Forum Regular
Joined: Jun 2009
Posts: 34
Re: Getting a mortgage using foreign income?
Nix
There are lenders who could lend to you, taking account of your foreign income, however they are likely to require a 40% deposit. If you pm me i will explain more.
Frank
There are lenders who could lend to you, taking account of your foreign income, however they are likely to require a 40% deposit. If you pm me i will explain more.
Frank
Oct 8th 2009, 7:52 am
#3
Forum Regular
Joined: Feb 2006
Location: Brisbane
Posts: 121
Re: Getting a mortgage using foreign income?
Hi
we recently got a mortgage using a foreign income, we used Aussie Brockers who were excellent in doing all the paperwork for us.
we recently got a mortgage using a foreign income, we used Aussie Brockers who were excellent in doing all the paperwork for us.
Oct 8th 2009, 8:47 am
#4
Harrip
Joined: Nov 2004
Posts: 495
Re: Getting a mortgage using foreign income?
I have a predominantly UK income but initially got a "low doc" mortgage through www.aussie.com.au . At that time, I just had to demonstrate I could afford the payments and documentation requirements were indeed "low". PM me if you'd like my brokers details, he's in Sydney.
Oct 8th 2009, 11:51 am
#5
Forum Regular
Joined: Feb 2008
Posts: 187
Re: Getting a mortgage using foreign income?
Just querying anyone in the know....
* We have foreign income from the rent of our properties that we have not managed to sell
* We started our own company in Aus i.e. self employed
RAMS has said it is not possible for us to get a mortgage using the foreign income and needs TWO years of tax returns on our business before they will consider us. Alternatively 6 months of a payslip from an employer.
Does anyone know if this is it for us, or should we continue searching until someone will finance us? We can put down approx. 20% deposit.
Any advice would be welcome
Nix
* We have foreign income from the rent of our properties that we have not managed to sell
* We started our own company in Aus i.e. self employed
RAMS has said it is not possible for us to get a mortgage using the foreign income and needs TWO years of tax returns on our business before they will consider us. Alternatively 6 months of a payslip from an employer.
Does anyone know if this is it for us, or should we continue searching until someone will finance us? We can put down approx. 20% deposit.
Any advice would be welcome
Nix
. Hope you done right thing and declared your rental income on Oz tax return, same as me
