Wave the Sails

Despite our joint income in the Uk and our savings we are having trouble locating someone in Australia who can help us out before we arrive (March 7th 2005 Perth)

Many thanks for any help

stressed out

APPLY ON LINE AND OPEN AN OZ BANK ACCOUNT.WE OPENED ONE WITH THE ANZ.(WE WERE ON HOLS IN OZ) THEY TOLD US WE COULD GET A MORTAGE AS SOON WE GOT TO OZ.

ROSE

Wave the Sails

Thanks very much for that.

I have just aplied to open an account with Commonwealth Bank. Will they be the same, or should I reapply with ANZ?

Much appreciated.

wmoore

They'll be the same too. I've seen plenty of peolpe comment on here how they got mortgage, credit cards, etc as soon as they landed. Well, not literally of course .....

darkless

Yes it is possible. We got a mortgage back in May and we dont arrive in Perth until Jan 05.

However, I was out looking at houses etc in April and put an offer in on a house whilst there. Personally I would not advise buying a house over there without actually looking around the property and area first.

ozipeter

I personally would forget about it at the moment. There has been a lot of Poms stung with loans and properties that have now decreased in price and they will find out that some of them will be 'upside down' once they get out of the final sale price less agents comm and fees. Our credit scoring area ' Experion" if you like, does not like UK borrowers. It follows a Drivers Licence and Electrol Roll search and if you dont come in on either it scores quite low. Our Drivers Licence Numbering system was only recently changed and the old ones have letters and numbers so it is quite foolproof. We have just put in new measures to make fraud even more difficult and this was one initiative that we did to stop it in its tracks almost immed. The problem is that it catches borrowers like you out an makes it almost difficult to get a mortgage. What I suggest is to come in Aust and wait a few years as the prop cycle is at its highest. Or better still leave your money in the UK and just rent. { or is that just too bitter to swallow}

bondipom

There are too many desperate lenders here willing to stretch the lending to riskier applicants is pursuit of short term commisions. Anything is possible.

Credit scoring systems in general do not favour those who have lived abroad recently, even Australians. There is nothing spacifically discrimonatory against UK migrants in the systems although from the nature of your posts I think you wished there was an anti-pom mechanism.

johnnie7au

IMO this chap is excellent! He recently helped me get fixed up.

He is a UK migrant .. and nice guy!

there is a lot of competition in the lending field.. but this guy will take you through it without blinding you with science.... or pressure.
He knows his stuff, is affiliated to major lending institutions and will help you find the best mortgage he can.

[email protected]

Wave the Sails

LOvely , thanks very much indeed.

Where is he based?

Wave the Sails

[Thanks Johnnie, I have emailed him)

mlbonner

This may be of some use - people who are not automatically accepted for a mortgage need to seek approval.

http://www.firb.gov.au/content/real_...esidential.asp

PhilShila

I'm sure it is. I have 3 buy-to-let mortgages from Commonwealth Bank which they gave me on the basis of my UK income, witnessed by a letter from my employer and my last 6 months bank statements, without doing any credit checks whatsoever.

I can't see why they wouldn't do the same for a normal mortgage as opposed to a buy-to-let, but it was arranged through a branch of the bank in Melbourne - not through the London office.

The only thing I'm not sure about (but maybe someone else knows) is whether, as you aren't actually in Oz yet, you would need approval from the FIRB to purchase property. Commonwealth Bank did want to see my FIRB certificate before approving the loan.

Phil

Wave the Sails

Thanks Phil,
I have just applied to Commonwealth Bank, so fingers they can thelp