SurreySydney

Hello,
I'm new and this site is great! I am an Aussie who moved to London 11 years ago and now a dual Brit/Aussie. Coming back to Sydney for a year or two in April and hoping to buy in Sydney. Can anyone help with a few buying questions as trying to build a picture of how much I might need.

- Will i be able to get a mortgage with my British banking history, or will I have to have a full time job in Oz for a year or so before they will lend?
- can you get 10% or 5% deposit mortgages?
- Will I qualify for the first home buyers grant and how much is it?
- Does that make me exempt from NSW stamp duty or should I factor it in?
- What are buying costs generally, solicitors etc, around 1 - 3% of purchase price?

sorry for all the questions, ive been on the net but cant really find this info. many thanks in advance!

steen1976

Can't help with any of that mate but do you think buying when you are only going to be there for a year or two would be a good move considering prices are probably peaking? And exchange rates are abysmal - if you're bringing sterling.

Obviously I've no idea of your circumstances so just a consideration.

SurreySydney

Hi there. Looking to buy nowish, live for a year or two, rent it out after that and perhaps retire back there, so its a bit of an investment too. yes, sterling is awful right now, that's why Im trying to work out buying costs and size of deposit needed to see if I can afford it! thanks for the reply

ABCDiamond

No, unless you still have a continuing income from the UK, and can prove this.

Often a full time job, just started, will be sufficient.

20% deposit is now the norm, although there may be exceptions.

What part of Sydney are you looking at, some parts have been stagnant, price wise, for the last 5 or so years.

SurreySydney

thanks for that 20% ... Not sure ill be able to drum that up but great to know. Was looking at lower north shore, city/darlo, eastern - all the cheap places LOL!