Anamws

Could anybody please help. Hubby and I are hopefully arriving end of year in Brisbane area. Already know that we wont have enough funds to buy out right, but will have deposit. So can anybody guestimate(or even know from experience) how long it may be before hubby and I can apply for mortgage. Of course one must make the pressumption that we are both working full time soon after arriving.


Appreciate any advice.

Thank you.

Alan Collett

As a general principle the more deposit you put down the less questions will be asked by the lender.

Please send me an email if you would like me to arrange for some details on mortgage finance in Australia to be sent to you by my colleague Andrew Bray who advises on these issues (he is based in Brisbane).

Best regards.

Gibson

Hi,
we've only been in Perth 6 weeks and we had a good financial adviser round the other night. With some banks you can get a mortgage straight away even if you've only been working a week, the magic word from your employer is permanent. As long as you're permanent you're laughing.

Hope all goes well.

Mandyisere

So can i take it that if you are on a 457 visa you have no chance? I'm a nurse so i will always have work but do you have to have a permanent visa before you can buy?

Mandy

owieb

You have a chance. We are on 457IE visas and have just bought a place with a mortgage.

The key thing was the deposit, you ideally need a minimum of 20% otherwise you have to buy a very expensive insurance policy.

Plus being on a temporary resident you need to get FIRB approval, checkout www.firb.gov.au.