ha di ha ha

It might all be slightly higher and easy, but it's still to much hassle for so little, for less than a year.

Thanks guys


p.s. keep discussing, cos this will be of use to others of course!

hey simone,

do i understand correctly that you can't get a mortgage on a temp visa then? or are there other reason for you guys having to wait till pascal becomes perm?

we've always been 'working' with the idea that we'd stay in this little shack for a year and save as much as we can towards a deposit, and buy our own sometime next year...but if we cant do it with me on temp, i might just go down to the shops now and spend some....

tanja

Well, I've heard from 2 sources(one in exactly the same position, Mairi and Chris(vegemite kids) that Pascal's income won't be counted when calculating how much we can borrow. Even if he has a permanent job.
And mine won't be enough to get a decent mortgage on to buy a house. sooooo....

We weren't counting on being able to buy a house this soon anyway, and are quite happy where we are, and now we'll be able save more, and it's less than a year.
So I haven't actually investigated this more, and Mairi said it could work if you went for the 'Foreign revue board', but that sounds like a lot of hassle...
And maybe it's only some banks that do this though(but I doubt it)

To be honest, I've just been to lazy to investigate more, and it's hard when you're working all week(really need to go and visit the banks!!). But as I said, we're not in a rush.

Have a look at this thread:
http://britishexpats.com/forum/showthread.php?t=282571

Only two posts, but one said " My husband banks with National and they said that providing we satisfy their board we get a mortgage with less that 20%, even though I'm on a temp. visa"

It may be worth following up with the original poster ?

My thinking would be that if one Partner is a PR or Citizen, then a Mortgage can be done with no problems, but based on that persons income only.

Some banks are more flexible than others, and even within banks, some managers are more flexible than others. I heard that one banks branch Manager refused a mortgage to one person, but that same banks "Mobile Lender" approved it.

If both are Temp Visa, then I can see why no Bank would want to lend, as you are only here temporarily, "in theory".

Good luck

Yep, that's how I've understood it.
Not going to work for us, my wage is very low! Hope it goes up soon though, which I will be demanding if I get a better position of course.

Hi Simone

We use HSBC online and got our mortgage as have account with them, it was very easy and we weren't asked for any confirmation of PR, you could email them via online services and ask the question. Also I used the term deposit for savings purposes on a monthly basis when we had our capital before buying the house and gave me more than the online savings account rate and can be done in a few clicks!! trying to keep up with financial services here as was my job and I don't want to get too rusty....lol, so if find out any more useful info, will let you know, see you next sat night Teresa x (got your nutrimetics too, was going to drop it down last night on way out for meal with Mum and Dad but ran late as Graham had rush job on, who says less hours in Oz!

Hi!
Thanks!

I'll do that termdeposit for 3 months or so, and then look into mortgages more.
I did email them actually, asking specifically about the temp visa, this was the answer:
It says both incomes will be assessed, but he doesn't say anything specific about the temp visa.
I really just need to visit the branch, but I don't want to take time off!!
Actually, I could probably get one of their account managers to call me I guess...

See you next week, hope you're having fun with your parents!?

Get the mobile lender to come to you, they are better than the branch based people anyway