Guest debbie13 Posted August 29, 2011 Report Share Posted August 29, 2011 Hi guys, a little advice would be grateful from those of you in the know.; My OH has got a sponsership visa and we are looking to move out in Feb. We like the area around Tapping and would like to purchase a house there as we know the area fairly well. Question is, can we apply for a mortgage if we do not currently have an Australian address, in other words do you have to be renting a property and have evidence of utility bills etc. before you get onto the mortgage ladder? Quote Link to comment Share on other sites More sharing options...
Give me a break! Posted August 29, 2011 Report Share Posted August 29, 2011 Debbie to get a mortgage you have to have perminant residancy and you have to have a job. Many would want you to be in a job for a set period of time, usually 6 months and they would want you to have at least a 10 to 20 percent deposit. Quote Link to comment Share on other sites More sharing options...
Guest debbie13 Posted August 29, 2011 Report Share Posted August 29, 2011 Oh , I Didn't realise that you had to be a permanent resident, I Just thought that you could purchase a property but if you hadn't gained permanent residency by the time your visa run out then you would have to leave Australia. Quote Link to comment Share on other sites More sharing options...
Give me a break! Posted August 29, 2011 Report Share Posted August 29, 2011 I think you could buy a house outright if you had the money. But you wont get a home loan if you dont have permanant residancy, you have to show the visa's etc in your mortgage application. Quote Link to comment Share on other sites More sharing options...
Guest Bob Tonnor Posted August 30, 2011 Report Share Posted August 30, 2011 Hi guys, a little advice would be grateful from those of you in the know.;My OH has got a sponsership visa and we are looking to move out in Feb. We like the area around Tapping and would like to purchase a house there as we know the area fairly well. Question is, can we apply for a mortgage if we do not currently have an Australian address, in other words do you have to be renting a property and have evidence of utility bills etc. before you get onto the mortgage ladder? Hi Debbie As soon as you get here, or even before, you may be wise to talk to a lender, heres a good list, http://www.canstar.com.au/interest-rate-comparison/compare-home-loan-rates.html you may be able to get a reasonable idea of what the lender requires of you so you know where your going, they are all slightly different. This might help, it also has links to the foreign investment review board, http://www.australia-migration.com/page/Foreign_Investors_Buying_property_as_a_foreigner_or_Temporary_Resident_in_Australia/178. As for Tapping, nice spot, http://www.locationlowdown.com.au/search/results/WA/Tapping Good luck Bob Quote Link to comment Share on other sites More sharing options...
Give me a break! Posted August 30, 2011 Report Share Posted August 30, 2011 Oh my apologies but, I was told that you could not get a mortgage if you did not have a perminant visa. Obviously that bit of advice was wrong. Lucky there are people who know what they are talking about, Im in shock though but there you go, good luck. Quote Link to comment Share on other sites More sharing options...
Guest debbie13 Posted August 30, 2011 Report Share Posted August 30, 2011 thanks that is very helpful. I was beginning to get very stressed out with the thought of having to rent until we became PR(which we want to become). Hopefully wiht 30% deposit we should be able to get a mortgage. Thanks for the links to the sites they were great. Quote Link to comment Share on other sites More sharing options...
Guest Anouska Posted August 30, 2011 Report Share Posted August 30, 2011 Hi Just thought I would add that I was also told that you could not buy a house without a PRV, that was one of the reasons we decided to choose this visa. Wish all information that was given was the same!!!! Good luck Debbie, keep us posted on your outcome. Anouska xx Quote Link to comment Share on other sites More sharing options...
Arwen Posted August 30, 2011 Report Share Posted August 30, 2011 Oh , I Didn't realise that you had to be a permanent resident, I Just thought that you could purchase a property but if you hadn't gained permanent residency by the time your visa run out then you would have to leave Australia. It isn't true. You can buy a house on a 457 visa. It severely restricts who will lend to you and you will need at least a 20% deposit but you can do it, we did. Speak to Mark at The Mortgage Gallery at Whitfords when you get here, he was very professional and obtained us our mortgage with no bother at all. Quote Link to comment Share on other sites More sharing options...
Guest guest1337 Posted August 30, 2011 Report Share Posted August 30, 2011 It isn't true. You can buy a house on a 457 visa. It severely restricts who will lend to you and you will need at least a 20% deposit but you can do it, we did. Speak to Mark at The Mortgage Gallery at Whitfords when you get here, he was very professional and obtained us our mortgage with no bother at all. Mortgage choice in Joondalup are excellent also. Quote Link to comment Share on other sites More sharing options...
Guest Guest4575 Posted September 7, 2011 Report Share Posted September 7, 2011 Are there any tax-breaks or other inducements that make having a mortgage an attractive proposition?Thanks! Quote Link to comment Share on other sites More sharing options...
jackboots Posted September 7, 2011 Report Share Posted September 7, 2011 Also , if you find an agent that you LIKE that one agent can take you to any house even if its not on their books , its not the same as uk where if its for sale with that agent you only get to view and buy with that agent .. took us ages to be told that one ! Quote Link to comment Share on other sites More sharing options...
welshie Posted September 7, 2011 Report Share Posted September 7, 2011 Really?! So who gets the commission for the sale? The original agent? I cant see why agents would bother showing you round a house that they're not selling...what would be the benefit to them?!! Quote Link to comment Share on other sites More sharing options...
jackboots Posted September 7, 2011 Report Share Posted September 7, 2011 Im told they get a spotting fee . Quote Link to comment Share on other sites More sharing options...
welshie Posted September 7, 2011 Report Share Posted September 7, 2011 That makes sense I suppose. You learn something new every day!! Quote Link to comment Share on other sites More sharing options...
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