Investment bond

Old Dec 16th 2003, 5:12 pm
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hi folks , me and the family are just starting the long haul that ho-pfully leads us to sydney.I too need to buy the extra 5 points with the $100,000 investment . I have some questions about the investment though , if any body could help........
How early does one need to make the payment ? (I will be stuck for the cash until I sell the house, which would be the last thing I intend to do prior to going )

How safe is the "investment " ? any guarantees of the full ammount returned should markets fail etc etc ??

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Old Dec 16th 2003, 5:17 pm
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Default Re: Investment bond

Originally posted by Bob Edmunds
hi folks , me and the family are just starting the long haul that ho-pfully leads us to sydney.I too need to buy the extra 5 points with the $100,000 investment . I have some questions about the investment though , if any body could help........
How early does one need to make the payment ? (I will be stuck for the cash until I sell the house, which would be the last thing I intend to do prior to going )

How safe is the "investment " ? any guarantees of the full ammount returned should markets fail etc etc ??


Hi Bob & family
we too have to lodge the AU$100,000 to gain the extra points, imo it is the last thing requested before the visa is issued, therefore after you have submitted the meds and police checks and been given the all clear! you have just 49 days (including posting time) to lodge the monies with the relevant state/territory of your choice!
We submitted our app. in October (beginning) and will put our property on the market at the end of January if we sell early we will move in with my mum and if, heaven forbid we are'nt granted the visa then we will go back onto the property ladder or look at other options. If you do a search for investment bonds this subject has been covered alot
with regards
rach
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Old Dec 16th 2003, 5:42 pm
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Default Re: Investment bond

Originally posted by Bob Edmunds
hi folks , me and the family are just starting the long haul that ho-pfully leads us to sydney.I too need to buy the extra 5 points with the $100,000 investment . I have some questions about the investment though , if any body could help........
How early does one need to make the payment ? (I will be stuck for the cash until I sell the house, which would be the last thing I intend to do prior to going )

How safe is the "investment " ? any guarantees of the full ammount returned should markets fail etc etc ??

As nosuchluck said, you will have 49 days to make the investment once they have requested it. The investment is absolutely safe and you receive interest on it at 6 month intervals. You even get to pay tax on that interest too!!

Good luck
Pudnut..
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Old Dec 16th 2003, 6:45 pm
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i too had the $100k bond which became a nightmare 49 days is no time watsoever my sale fell through 3 days before the deadline so i emailed my case officer who granted me aextension the same thing happened again 2 months down the line i got another extension 3rd time i got a vey expensive bridging loan because i felt no more extensions was coming my way, but hey still got my house and didnt get a hiding on the ex rate if i had sold anyways good luck and remortage ......NOW !
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Old Dec 16th 2003, 8:23 pm
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We will also be in this position as we need those extra crucial 5 points! Most of our money is tied up in the house, but we don't want to sell until the last possible moment.

Saying that, I'll still move away from this god-forsaken hole of a village, even if we don't get accepted!

Sorry no it's a beautiful semi-rural village, character property, easy access to A1/A19 networks, perfectly positioned for commuting to major cities in area, anyone know anyone who wants to buy a house???!!!

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Old Dec 17th 2003, 11:30 am
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If you choose to re-mortgage,
You should be aware some lenders will not give you the money if it is used for investment purposes ( $100,000 to Aus is an investment) .

So if going to your lender for a release of your capital be careful.
They seem to like Home improvements !

Not suggesting that you should lie , just be aware .
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Old Dec 17th 2003, 12:52 pm
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we put our bond onto the mortgage, mainly because by the time the request had come through to us, a fair few of the 49 days had already lapsed.
We just thought, well, we're going anyway and the interest the bond pays will offset (some of) the interest it accrues on the mortgage. we were advised to ask for the mortgage to invest in a 2nd property and have it as interest only as the repayments are cheaper as it is a short term loan.

Marc & Claire
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