John & Maggie

We are planning to go to Sydney early next year. What we want to know is, if we get contract jobs, how will this impact us getting a mortgage? Does it? If so what time scales are we looking at before applying for a mortgage? Can anyone advise?
I think we will have approx 25- 30% deposit, does this help in any way?

tbeb

I would imagine your company books from the UK should be OK, to prove your previous income. In the UK, 3 years of returns are required to secure a mortgage. I guess you'll also need a current contract to show future income though.

TBEB

darkless

I can't remember the deposit required but it is possible to get lodoc mortgages - similar to the self certification mortgages over here - it is another option for you to explore

Dave

Brizbound

The Lo-doc mortgage would be your best bet as you more or less just say "we can afford to pay" and don't need payslips etc. The one we had we could only borrow 60% and so you may need to stretch your deposit if possible. They're very easy to get and becoming more common and therefore more competitive - however do expect to pay approx 0.5% more in interest. Wizard or Resi are 2 providers I know of.