Gazzap

Hi
I am one of the January applicants who's processing seems to have gone into overdrive- scary/exciting!
But because of this we may struggle to sell our house quickly enough to release the bond money from our house's equity.
Our agent Ian Harrop's have advised us we probably will need it by the end of May, I'm not sure if we will be sold, completed and money in the bank by then. It's not even on the market yet!

So my question is, does anyone have any knowledge on the deadline or expectation for this to be lodged? Or will they wait until you have it and progress the visa from then?

BTW, at present we have just (2 days ago) been assigned a CO and have booked appointments for meds and PCC forms sent off.

Cheers
Gaz

Navis

Hi Gaz. It's a bit scary when things jump forward 5 months or so isn't it? I am in the same boat and have asked this question on some other forums. It seems to depend on when you get your medicals back and how long they take to process.

Alan Collett lodged a post today stating that they are laying on more resources to speed up the medicals as they currently are taking a couple of months. So if you get your medicals back by end April it could be end May at earliest but this is just a guess really.

Will let you know if I get a reply on the other posts or find out more information in the mean time mate.

Good luck!
Ivan

nickos12

Hi,
Our bond was requested 4 weeks after the meds and I think (if I remember) we had 6 weeks to pay it in.
We were also waiting for our house sale to go through so we borrowed the money from the bank so we could pay it straight away. House went through 3 weeks later. It cost us a bit for a months interest but it was worth it to get the bond paid. Visa got granted 5 weeks later.

Liz

wmoore

I seem to recall being given 70 days to lodge after getting the letter. It's not long if you still have your house to sell .....

besound

Hi, we were asked for Meds, PCs and Capital Investment all at the same time and were given 70 days to do the lot. Used house to raise capital, remember you get around 6% interest on your investment. (Although you pay 10% tax on the interest element if you are outside Australia). 12 months and you get the whole lot back.

stumpysean

what visa is this for? Sorry for my ignorance...sounds tempting if you get the whole lot back after 12 months?

Can you give me some info please...thanks

besound

Hi Stumpysean, our visa is a 136 skilled independent non-modl - the $100K option is for an additional 5 points which we needed to reach the 120 points required.

stumpysean

Oh I see! Sorry for the ignorance, I'm not overly familiar with this visa as we're looking at the business 163. For a short moment I thought you could pay $100 to get in.......how stupid!!!

Cheers

Gazzap

Cheers for the replies!

Navis: please let me know if you get any extra info off the other forums (which ones?)?

nickos12: Would you mind giving me more info on the bank loan you did- PM if you'd like?

Gaz

Gazzap

Ok, I just spoke with our agents- Harrup's.

Apparently, from when you get your meds done, it takes 5 days or so to arrive in Oz, then approx 8-11 weeks average to process the meds and police checks. THEN they ask for the bond.

BUT Harrup's experience is that they will extend the time to wait for such things as selling a house by 'a few weeks', Harrup's say that there is an understanding of what many people have to do to access the $100k and they are reasonable about waiting a little.

So I guess you could say they give up to approx 15 weeks from meds being done?
Not too bad.

Gaz

fatherdougalmaguire

What happens if they decide to refuse you because of something in the PCC's or meds? I had always thought that, once PCCs and meds were cleared they'd come looking for the bond. That, in itself, could be interpreted as a pre-pre-grant. In other words, they'll hardly take the $100k and then refuse you the visa.

nickos12

nickos12: Would you mind giving me more info on the bank loan you did- PM if you'd like?


Hi Gaz,
Just went into the bank and got a personal loan for me and OH 20,000 each.

Liz

besound

I know I was a bit surprised when they asked for everything at the same time. Got the PC's cleared first, then went for Meds and made sure (as much as you can) that everything was o.k. before submitting the bond. Have not assumed that it means we get the visa though.

Gazzap

In the words of our agent- Don't assume anything.....

wmoore

It's true. While it's easy to assume that at a particular stage, it is 'done and dusted', the truth is that until you have that sticker in your passport, there is potential for something to go wrong.