koolkat

Hi all

I have a 175 visa and thinking of moving to oz.

Once I get a job, can I get a mortgage there, to buy a flat? I dont want to rent for long.

I am a first time buyer. I never bought property in UK so any advice would be much appreciated.

Cheers

Bermudashorts

I think this is a little bit of an unanswerable question, as there is more to getting a mortgage than visa type. You would need a deposit, sufficient income and might need to build up some Australian credit history too.

I think renting makes loads of sense, so don't beat yourself up about it if you have to do that, as you have never been a home owner before then it won't be much of an adjustment to make.

Migrant8

Hi,
There is no problem of getting a mortgage on 175. You have to prove your income and 10%(Minimum) Savings. If u have a good banking history lending bank may consider that.

But I personally know some people got home loans without any of those. So Its between bank and you. If they can trust you they will lend.

koolkat

Hey thanks a lot for that. Do you know if they would check my uk bank history, or just australian? Even though I havent got one any more!?

Also how much do you think I could borrow if say i was earning $80-$90k with a 10% payment.

Cheers for any help

steen1976

No they wouldn't check anything in the UK.

I rent here and don't know what the lending to income ratio is here. But in Sydney I would guess that wouldn't be enough to get anything other than a dump out west. House prices are crazy.