lucyb

Right...can I have all of your opinions now please on this very important quetion?!

We are applying for the new SIR Visa, but have to go about it the long way round as we had a major points issue. My husband turnes 30 on Tuesday, and we had to get an application in before then. We have gone in for the skill matching scheme, but in the meantime applied for state nomination from South Australia. Once we hopefully received this, we will change our application to one for a SIR Visa. (my agent has checked this all out and apparently its kosher as we were a bit nonplussed at first). Wengerboy got his state nomination really quickly, and Im hopeing that we do too so we could bypass all this malarkey.....

Anyway, so my question is...SHOULD WE PUT OUR HOUSE ON THE MARKET NOW? This new SIR visa apparently gets priority processing and as we also need to pay the $100k bond, Id hate to be unable to sell the house and not be able to pay the bond. On the other hand, Id also hate to be homeless and living with my parents :scared: . We are in a right pickle and honestly dont know what to do. What would you do?

Lucy

Steve58

Sell! Sell! Sell!

You can always rent somewhere for a while if you have a delay in getting the visa.

Timber Floor Au

we were in a "similar position"

Whilst you have the HOUSE for sale, it will be difficult to borrow money should you need to raise addittional funds, for the BOND.

However you could remortgage meanwhile, adding an extra £40 k to mortgage, which you could do on a no penalty interest only deal. And have house for sale simultaneously

ie. when you sell, just pay back what you owe, end of !

This would get your bond in position, without the ultimate need for the house to sell, should the bond request precede the house sale.

Re the visa, I was aware or perhaps mis informed, that should you switch main application visa type then you need to pay a whole new set of fees etc. and ultimately a fresh application.

asfry

Personally, I'd say it'd better to be able to pay the bond and not be in sh*t creek that way.

Living with parents would be just a slight inconvenience. The quicker you can pay the bond and get everything to go through, the quicker you can leave.

ABCDiamond

What are house prices doing, or likely to do, in YOUR area ?

If they look like dropping soon, then Sell !

As Steve58 says, you can always rent something.

NedKelly63

Definately Sell.

lucyb

Well the good news is that you dont have to pay to join the skill matching scheme, so we will only have to pay one visa application fee!

Go Banana's !!

I'd sell Lucy.

So many of us are having problems with our houses at the moment that I'd allow extra time. A small inconvenience will be living with the Outlaws but you only have to sleep there !!


Good luck, whatever you decide.

Warren
Perth 2004....Twice !! :scared:

lucyb

Hi ABC....

Well we paid £215 for our house in Feb and its worth £250 now...but I want MORE!!!!!!!

ABCDiamond

But..... are house prices still rising in YOUR area ?

Another Interest rate rise in UK aswell, I heard earlier; will that make things worse to sell ? Based on info in this first post

NedKelly63

Do you live in a peat hut or something??

walaj

If it is 'worth' 250k then it is likely to be hard getting any more, given the big jump in stamp duty, unless you have several people desperate to uy your property.
Isn't a 16% tax free gain in 5mths enough?

NedKelly63

Well, have you put your house on the market? If not, do it. See what interest there is.

Timber Floor Au

from my experience the skill matching database , you could sit on their for years

re your house, depends on the equity you have in the property, irrespective of purchase and current value

The 100k bond should accrue 5% interest when placed annually, less tax at source.

The pointers are houses under 250k accrue a substantially less stamp duty in uk, properties in the 250+ band are slow moving , in fact at a standstill in some regions.

JayDeee

Sell it Lucy, better to have some money than being stuck in a house you cant sell or if it ever happens negative equity