How long before we can buy a house in Oz?
Jul 23rd 2004, 10:09 pm
#1
She's Diddy, He's Not
Thread Starter
Joined: Apr 2004
Location: Gold Coast - just like Felixstowe
Posts: 2,454
How long before we can buy a house in Oz?
Hi,
Never owned a house in the UK.
How long is it before we can a house ie. do I need to be in work for X amount of time before we get a loan and what % of value of house do we need as a deposit?
Thanks,
Paul.
Never owned a house in the UK.
How long is it before we can a house ie. do I need to be in work for X amount of time before we get a loan and what % of value of house do we need as a deposit?
Thanks,
Paul.
Jul 23rd 2004, 10:22 pm
#2
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: How long before we can buy a house in Oz?
Originally posted by diddy
Hi,
Never owned a house in the UK.
How long is it before we can a house ie. do I need to be in work for X amount of time before we get a loan and what % of value of house do we need as a deposit?
Thanks,
Paul.
Hi,
Never owned a house in the UK.
How long is it before we can a house ie. do I need to be in work for X amount of time before we get a loan and what % of value of house do we need as a deposit?
Thanks,
Paul.
Paul
I know this has come up in the past but can't quite remember when. Try a search. It was at least in the last two months.
Good luck. I would look, and will in the morning, but I am now knackered and going to bed. Sorry.
Jul 25th 2004, 8:35 am
#3
Forum Regular
Joined: Jan 2003
Location: Brisbane
Posts: 275
we have been here 3 weeks and the commonwealth bank will give us an 80% mortgage with just 1 payslip and a letter from my husbands employer stating that he works full time, also in Queensland if you have never owned a house ever before you are exempt from paying stamp duty (i think) and also you will be able to apply for the 1st home owner grant $7000.
lucy
lucy
Last edited by wombat; Jul 25th 2004 at 8:39 am.
Jul 25th 2004, 10:23 am
#4
too busy to work members
Joined: Jan 2003
Location: Tahmoor NSW - Southern Highlands
Posts: 1,385
We took 10 days to find and sign a contract tpo purchase and we are not working...
I am sure previous threads have said that If it is the first AUSTRALIAN house you are buying you get the $7000
uk house purchases do not count
Hope I am right!!
I am sure previous threads have said that If it is the first AUSTRALIAN house you are buying you get the $7000
uk house purchases do not count
Hope I am right!!
Jul 27th 2004, 9:38 am
#5
BE Forum Addict
Joined: Jun 2002
Location: Gold Coast- the best place in the world
Posts: 3,196
It is the first Aus house you own to get the $7000 grant. You are not exempt from stamp duty though, unless the price of your house is under $250k I think.
Jul 27th 2004, 10:22 am
#6
BE Enthusiast
Joined: Sep 2002
Location: Mornington, Melbourne
Posts: 419
If you settle in victoria and buy before July2005, you will be entitled to $12,000 1st time buyer grant (used to be $7,000).
Ive asked about mortgages recently. Most banks want at least six months earnings and to have passed any probation periods. If you can stump up 40% or more you can get a "lo-doc" (low documentation) mortgage almost straight away. if not then you'll need at least six months earnings before they will look at you.
All the best 65KK
Ive asked about mortgages recently. Most banks want at least six months earnings and to have passed any probation periods. If you can stump up 40% or more you can get a "lo-doc" (low documentation) mortgage almost straight away. if not then you'll need at least six months earnings before they will look at you.
All the best 65KK
