Mortgage Query on Visa
 

Here's a good one for you!

Have heard from the broker that we are getting our mortgage through that the mortgage company do not consider an 856 to be a real PR visa and state that, if I loose my job or get fired, I will have to leave Oz.

Anyone heard of this before?

Cheers

A

Re: Mortgage Query on Visa
 

Sounds like they are just confused on what type of visa it is, the temporary emloyer sponsored does seem to be more common. Perhaps you just need to provide a bit of evidence proving that it is a permanent visa and that you definitely won't have to leave Australia if you get fired.

Re: Mortgage Query on Visa
 

Letter on it's way from Agent plus .pdf of website.

Can't help but agree they are confused!!!!

Cheers

Re: Mortgage Query on Visa
 

Westpac never even asked what our visa status was! (was temp 457 at the time now 856).

Re: Mortgage Query on Visa
 

Get a better broker!

Cheers

Steve

Re: Mortgage Query on Visa
 

Shouldn't have any impact either way anyway. It made absolutley no difference to us whether we had permanent or temporary visa when it came to getting a mortgage.

Re: Mortgage Query on Visa
 

AFAIK, it only makes a difference to the amount they're willing to lend to you. From memory, a few years ago when on a 457, Westpac told us we'd need at least a 20% deposit to get a mortgage with them. On a 175, they're happy to lend you up to 95%...

Re: Mortgage Query on Visa
 

Just tell them it's a permanent visa, they have no need to know the exact subclass.

Re: Mortgage Query on Visa
 

Thanks all for your input. Now sorted!!

Cheers

A