steven'n'debi

we arive in perth 21st july!!

some how we have it in our heads that we cant buy a house untill 6 months after we arrive!

no sure if thats true or not can anyone shed some light???

if not we might go through the forgien investments bureau!


cheers!

cresta57

If you have PR you can buy as soon as you arrive. Only non residents have to register with the FIRB.

DazL

Hi we moved to Perth in April and looked straight into buying our house, it only took, 3 weeks to get FIB approval, which is something that the real estate agent will do for you, once you have found a house you like, we moved about 3 weeks after that. Its quite a quick process not like England. We are over on a temp visa. We could only get an 70% mortgage, which was a bummer.

Where abouts in Perth are you heading??

movetoperth

Hi Steven n Debbi

You can buy as soon as you arrive, wheather on a pr visa or a temp visa, with a temp visa you will need to apply for foreign investment approval, but not if you have a pr visa.

You can apply for a mortgage straight off, you need a 30% deposit. You can usually apply for a mortgage straight off, sometimes even before you leave the uk and sometimes even if you dont have a job, with some of these types of mortgage you will also need to have a 30% deposit.

Check with our mortgage advisor via this link http://movetoperth.com/info/finance/mortgage.html
he will give you all the correct info on what is and isn't possible.

Lynn

steven'n'debi

got rellies in jandikot but i really like the look of warnbro, not bein fussy but i want a house west side of warnbro sound ave with a pool!! so if i cany be ersed walkin to the beach ill just fall in to it!!

just need to go clock the primary school first to be sure but iv not heard any bad reports so far!!

what about you?

DazL

Hi Steve & Debi,

We're down in sercret harbour, just about 5mins from warnbro and I actually work in Jandakot which is about 30 mins up freeway. We have 4 children in primary school, 10, 9, 6 & 5 years old. We have made quite a few friends living in the warnbro and port kennedy area, all Poms like us though I'm afraid. We seem to be taking over this neck of the woods. Let us know if you want any info on the area and I'll try and help, houses schools etc.

Darren & Kymm.

steven'n'debi

how could you only get 70%??

DazL

Hi Steven & Debi

We could only get 70% because we are on a 457 Temp visa, its so hard to get credit and mortgages you need to place huge deposits.

We brought a 3 seater sofa and 2 seater sofa from Harvey Normans, we couldn't get credit and wanted to build a credit history for ourselves, so the sofa cost $2700 and we had to pay a deposit of $900, in order to get special Harvey Norman Credit!

We brought a car, within our first week which wasn't too difficult, Darren just needed to give proof of his employer and salary.

Its also hard to get mobile phones and i have ended up with a pay as you go, from Telstra.

Moving here is a real culture shock, the banks/post office are not open on the weekends, shops don't open on a Sunday like they do in England, but its worth it. We are banking with Bankwest, although they are not the most helpful, we arranged our mortgage with Westpac, they were very helpful, but still would only give us 70%, Bankwest said NO from the start.

Good luck only 4 days to go for you.

Regards Kymm

samnrob2

it's interesting how many people say this. Why does everyone try to build their credit rating up by taking credit cards, store cards etc to help get a mortgage?!

We're in the process and have been told not to get credit cards, etc because it impacts on your affordability. I.e. if you have a credit card with a $10,000 limit on it, then they take into account you maxing it out and having to make monthly repayments. By not having a card, you don't run the risk of having an additional montly expense.

We've been told that by a mortgage advisor and by the Commonwealth Bank - makes sense.

If anyone can explain otherwise, there seems little point in getting cards, etc to get a mortgage.

And why did you find it hard to get mobiles? We got ours on contract straight away. Not saying you're wrong or trying to cause an argument, just interested to know why others are getting conflicting advice and experiences.

Rob

DazL

I would agree, to some point. It is difficult on this forum sometimes with conflicting info coming from various people. I believe there can be variations from state to state, all I can advise on this is through the experiences we have had living in Perth. I have been lucky enough to move out here through the company I was working for in the UK, and although sponsored and on a good salary I have had problems with obtaining certain things. We went into about 4 different mobile phone shops to get a mobile for my wife, as I already had a company one, and not one of them would give us a phone on contract because they had to carry out a credit check and as we had only been in the country for a week or so, we had no credit history and therefore declined. Hence the pay as you go option.
I know sometimes it does depend on the sympathetic ear that you are sat across the desk to, but from my experience I never found a sympathetic ear. Even with my employer writing letters of support and confirmation of my salary etc, it still wasn't easy. Once again you have to remember that all circumstances aslo vary depending on visa status.
Even the original bank account I opened of which all my equity from the UK was transferred into, they still refused to give me a home loan.
Although its good to take onboard all the advise that is given, it can only really prepare you for the probables or possibles.
When on a temp visa in regards to only getting a 70% mortgage, I believe one of the reasons for this is that once over 70% of the property value, you have to obtain mortgage insurance and I have been told that this is not possible as a temp resident (correct me if I am wrong as this is something I have recently had problems with).

Darren.

samnrob2

Hi Darren,

I guess you're right - the visa class may determine what you can and can't get hold of. And as you say, if people come out here fully understanding worse case scenarios then they'll be pleasantly surprised when something goes in their favour or not be disappointed when it doesn't!

Rob

ABCDiamond

There obviously are some State differences to be aware of.

I saw this quote, which made me stop, as most of our shops (Brisbane) also open on Sundays. It was the same in NSW when we lived down there. So that may be another State thing.