Guest HomeInPerth Posted October 5, 2010 Report Share Posted October 5, 2010 Today the interest rates in Australia have been kept on hold which will be a welcome relief to those bringing GBP to Australia and those looking for a home requiring a mortgage. The reasons given by the RBA are here Finding a Home in Perth...: RBA keeps rates at 4.5% Here's part of what they had to say "The global economy grew faster than trend over the year to mid 2010, but will probably ease back to about trend pace over the coming year. Recent information is consistent with a more sustainable, but still strong, pace of growth in China and most of the Asian region. In Europe and the United States, growth prospects appear to be modest in the near term, a legacy of the financial crisis and its impact on private and public finances. Financial markets are still characterised by a degree of uncertainty, and are responding both to differences in growth outlooks between regions and evident strains on public finances and banking systems in several smaller countries in Europe. Most commodity prices have changed little over recent months, and those most important to Australia remain very high." What do you think of the decision? Quote Link to comment Share on other sites More sharing options...
Guest Singos Posted October 5, 2010 Report Share Posted October 5, 2010 too high as is, silly Quote Link to comment Share on other sites More sharing options...
Guest guest1 Posted February 23, 2011 Report Share Posted February 23, 2011 Could be worse Singos.....was told the other day that in the 1980's here in sunny Perth WA the mortgage rate was 18%....and we think we have got it baddddddd!!!! Mind you the price of a Mango has gone up considerably, dont you think???? Quote Link to comment Share on other sites More sharing options...
Guest sparticus Posted February 23, 2011 Report Share Posted February 23, 2011 I suppose the only plus side is if you have savings. I wonder if it's possible to use our UK mortgage on an Aus property, has anyone ever tried? Quote Link to comment Share on other sites More sharing options...
Guest guest1 Posted February 24, 2011 Report Share Posted February 24, 2011 You can guarantee that the Banks will have that covered so that you cant do it....its a good idea, but there will be loads of red tape involved, small print to read and declarations to be made.....there will be some legal reason why you cant do that Sparticus...when you buy your house here and you are on a 457 Visa you have to declare it to the Foreign Investment Bureau so that they know you arent trying to buy property over here and not necessarily live here but use it as an investment property....once you are here permanently you have to inform the bureau of that too...I am guessing that the UK Banks wouldnt be happy lending money on a property that is in another country, especially when they have such tight rules and legal requirements about making the purchasers carry out surveys on properties etc....those rules are not as tight here...you have a survey done but it doesnt really count for much.....its a case of caveat emptor here.... 'let the buyer beware'!!! Quote Link to comment Share on other sites More sharing options...
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