Originally Posted by nealhan (Post 9988729)

Hi all

I am just about to move to sydney and wondered how the lending system works for buying a home in Aus and also being on a working visa (435 )if thats possible to secure a loan ?

I would be grateful for your help

Neal

Originally Posted by nealhan (Post 9988729)

Hi all

I am just about to move to sydney and wondered how the lending system works for buying a home in Aus and also being on a working visa (435 )if thats possible to secure a loan ?

I would be grateful for your help

Neal

Originally Posted by Dorothy (Post 9988769)

I've never heard of a 435 visa. Could you let us know whether it's a PR or temporary visa? It makes a difference to lending criteria and restrictions on buying.

Originally Posted by Beoz (Post 9988830)

The lending system works ...... It's just one of the worst places to invest in property right now.

Originally Posted by Bermudashorts (Post 9989522)

You can buy property but will need approval from some body, can't remember the name. Yes it is possible to get a mortgage on this visa.

If you dont want to rent because you think kt is "dead money" bear in mind that buying in a falling market and then having to sell up in a hurry because uou have been given 28 days to leave the country, could be a much worse deal. No way would I buy on a temporary visa.

Originally Posted by nealhan (Post 9988729)

Hi all

I am just about to move to sydney and wondered how the lending system works for buying a home in Aus and also being on a working visa (457 )if thats possible to secure a loan ?

I would be grateful for your help

Neal

Originally Posted by Craig Vaughan (Post 9990107)

Hi Neal,
You can buy property in Australia on a 457 Visa. 2 main things to consider;
1) Deposit - typically you will require 20% plus costs. Costs will typically be around 5% of the purchase price to cover stamp duty, solicitors etc. Note though that stamp duty is different from state to state and will vary from nothing to 6%.

With that said, you can get a mortgage with only a 10% deposit plus costs if you were short on having the full 20%. More information on 457 visa home loans here.

2) Foreign Investment Review Board Approval (FIRB); you need govt approval to buy Australian real estate if you do not hold citizenship or permanent residency. This is very easy though and always approved providing you are buying the property to live in. The Government is in no way concerned with foreigners buying a place to live in themselves. <snip>

Hope this helps, good luck!