canifixit

Me thinks you should asked Alan Bond
Western Australian banking is years behind Britain's and I constantly see comparisons with the U.K. banking of the late 80s early 90s. The banks in W.A. seem to not want to miss out on the current property boom and are throwing money into the property market. My guess is they will be waiting for the first sign of a downturn before tightening their lending criteria.

Pet

Agree with you CB, also another question in my mind is the OP seems to be implying that she is a single mother of 2 - how hard would it be to get a visa as a hairdresser with two dependants? As stated on this post, not the highest paying trade, unless of course you have the equity to buy your own salon.

Wendy

From previous posts, she has a parent out here, so is obviously sponsered

Pet

Business banking is completely different to home loans, you cant compare the two. Plus Alan Bond had a lot of 'ordinary' aussies invest money in his companies not just the banks. (Who would think a brewery could go bust :scared: ) Lots of people lost their retirement pensions. Seems apart from his term in prison he didn't fare too badly.

phoenixinoz

Absolutely!

Banks will always lend money for however long it takes as long as there's something in it for them. They ALWAYS mitigate their risk.

And why not, they're a business

It's up to the adults to take responsibility and make the most sensible decision.

busterboy

You see it the UK too though...many people in over their heads. They are sold an idea that they can have all they want and still be able to pay for it. There is even an advert on UK TV selling people the idea of how easy it is to go bankcrupt and start over in a short period of time...this mirrors an irresponsibility of managing one's own financial wellbring.

thebears

Rubbish and yes you can

mortgage debt - then the add ons personal loan here, insurance cross selling here, then why not a credit card with a limit to match your annual gross income.

Get with it guys - banks lending credit cards with limits of £12K to those on £15K and charging them £30 a month for meaningless insurance policies.

As my American colleagues say "Loose as a Goose"

phoenixinoz

Yep, agree. That's why I mentioned adult must take responsibility cos at the end of the day, if the bank decides you have enough equity or you have the money to pay, they will provide a loan.

The banks make cold hard decisions to lend. They will lend as much as they can as it pays to keep punters in debt.

Sometimes it's greed that feeds the bank. People getting in over their heads.

Most times it's unfortunate circumstances and bad lending decisions.

Either way the banks usually walk away no poorer. Rarely can be said for the customer

phoenixinoz

Spot on here too.

That's EXACTLY it. The banks here pay commission to get you to sign in to as many *fringe* deals as is possible.

Does anyone really think the bank is interested in you or your personal life when it asks if you have kids or a mortgage? No. The bank is asking to see if it can sell you life insurance, or open an account for your kids or to see if you will swap mortgages or even take a mortgage on. They are sharks. Use them to your advantage cos they sure as hell will do it to theirs.

Like you said, banks are a business, not your mates

canifixit

The same banks that will lend you money to buy commercial properties lend money to buy your principal residence, they may have sister companies or just different departments. The concept is the same, they rightly want to make money from us.
My concern is more the principal of lending more than people can afford.
Some of people will borrow more than they can afford, in a rising market, in the hope that if things get too much they can sell up and cash in.
Being allowed to "self certify" or use larger income multiple does no one any favours.
Stricter lending criteria may be tough love for the lender but it would result in more realistic house prices.

BadgeIsBack

lol. Most blokes I know would beg to differ. Not all. But most.

I'm happy to look after my own kids and others, and have done so, but most young blokes would not move in to look after a kid given other options - like a house full of women(!)

thebears

Did it for 6 months and bloody hell its really tough work (and that was just one) god knows how those mums cope with 3 or 4 kids.


Much better job satisfaction though when they fall asleep

cocogreen

Does anybody know what the current wages are in victoria area are for child care co ordinator or child care worker? Thanks

dottyspots

I've got 4 children of my own and am a registered childminder - I enjoy the job, although I've been having a breather of late and concentrating on my other business (I like to be busy and I'm not brilliant at working for other people, too bloody minded dh says).

I sit on the local childminding association's committee, get to attend lots of free training and the local Early Years service are currently paying for me to do a degree (starting with the Cert. Early Years Ed.), so despite the low pay, it has it's additional benefits (aside from my enjoyment of children).

I used to work outside the home and it just wasn't for me, so whilst we've taken a drop in income, it's been a good choice for us.

I don't know what the situation is across Australia (aside from probably low wages), but I would be happy to re-register as a family daycarer in Australia and hope that it might supplement our income a bit. I wouldn't want to work in a nursery, because I prefer to be home-based (and again, I like to work for me )

I think it's horses for courses really.

I'm mostly concerned for my husband's prospects (plasterer).

Cam1977

This website shows wage comparisons for various jobs: http://www.worldsalaries.org/?gclid=...FSCmEAodWgH1Uw

It shows monthly take-home incomes in both absolute US$ amounts and PPP (purchasing power parity) based on cost of living in the different countries. A few examples:

Bus driver - Aus: $2,233 - UK: $1,543
Car mechanic - Aus: $1,942 - UK: $1,747
Carpenter - Aus: $2,407 - UK: $1,743
Computer programmer - Aus: $3,066 - UK: $2,802
G.P. - Aus: $3,903 - UK: $4,874
Office clerk - Aus: $1,901 - UK: $1,487
Postman - Aus: $1,999 - UK: $1,701
Professional nurse - Aus: $2,534 - UK: $2,243
Salesperson - Aus: $1,694 - UK: $1,144
Teacher - Aus: $2,618 - UK: $2,876

Those numbers are based on PPP.