PomPom Posted April 23, 2012 Report Share Posted April 23, 2012 Hi All, Albeit I'm still in the UK, but would like to know how long do you have to be in Oz before being able to get a mortgage? We will have a deposit, but not sure how it works out there? Any advice would be great. Quote Link to comment Share on other sites More sharing options...
phil Posted April 23, 2012 Report Share Posted April 23, 2012 Are you going for a permanent or temporary visa? Quote Link to comment Share on other sites More sharing options...
PomPom Posted April 23, 2012 Author Report Share Posted April 23, 2012 Permanent 176 Quote Link to comment Share on other sites More sharing options...
basicweb Posted April 23, 2012 Report Share Posted April 23, 2012 I believe it is normal to wait 6 months to get enough credit history to get a mortgage here,, BUT if you are in a similar job here as you were in UK, I know someone that has experience in getting these types of mortgage in 3 months, subject to the right paperwork etc. Tracey Quote Link to comment Share on other sites More sharing options...
Give me a break! Posted April 24, 2012 Report Share Posted April 24, 2012 I think its to do with your job. Most people start on a probabation period so the banks wont give a mortgage. I think this is the case but I may be wrong, I would think the bigger the deposit the more chance you have. Quote Link to comment Share on other sites More sharing options...
Guest AUSSIE FINANCE BROKER Posted April 24, 2012 Report Share Posted April 24, 2012 I have managed to arrange a homeloan for a UK migrant who has been here only 5 months. 5% deposit and No genuine savings. Gift from Grandmother in UK If you are on Probation you can wait until that ends then 5% deposit. Quote Link to comment Share on other sites More sharing options...
elfie Posted April 24, 2012 Report Share Posted April 24, 2012 Hi another question re mortgage We 2 properties in the uk one with a small mortgage on selling both we should get a fair chunk of cash. What are the prospects for a couple in late 40's obtaining a small mortgage top up to buy a property in Australia if the sale of the 2 Uk properties do not add up? Quote Link to comment Share on other sites More sharing options...
Guest AUSSIE FINANCE BROKER Posted April 24, 2012 Report Share Posted April 24, 2012 That should not pose a problem either, provided you are working and can afford the loan. Quote Link to comment Share on other sites More sharing options...
PomPom Posted April 24, 2012 Author Report Share Posted April 24, 2012 Hi Tracey, thanks for that - really helpful. I'd like to think we can come over, be in rental for a short while and then buy. Quote Link to comment Share on other sites More sharing options...
basicweb Posted April 24, 2012 Report Share Posted April 24, 2012 PomPom Maybe try Aussie Finance Broker, or I have a colleague who could help you out, he is independent and has experience of finding loans for new immigrants also. When are you looking at coming out? Tracey Quote Link to comment Share on other sites More sharing options...
PomPom Posted April 24, 2012 Author Report Share Posted April 24, 2012 Hi Tracey, Assuming our application goes o.k, hopefully around July 2013 (if not sooner, but that's the latest). Do you mind me adding you as a friend so I can contact nearer the time? Quote Link to comment Share on other sites More sharing options...
basicweb Posted April 24, 2012 Report Share Posted April 24, 2012 Hi Tracey, Assuming our application goes o.k, hopefully around July 2013 (if not sooner, but that's the latest). Do you mind me adding you as a friend so I can contact nearer the time? Friends Quote Link to comment Share on other sites More sharing options...
Guest adrianstone80 Posted May 11, 2012 Report Share Posted May 11, 2012 The first step in becoming an educated, savvy mortgage “Shopper” is to know your credit score.In some cases, people end up paying a higher rate of interest at the last minute, because they didn’t do their homework and find out exactly what their credit history and credit score looked like. Quote Link to comment Share on other sites More sharing options...
PomPom Posted May 11, 2012 Author Report Share Posted May 11, 2012 Hi Adrainstone80, I just clicked on your 'how to get a mortgage' and it directed me to an american website? My myself and OH are in professional careers and have ownded 8 properties in our property developing relationship / marriage and both have an excellent credit ratings in the UK. So.............. I am assuming this is no different in Oz (unless you can tell me otherwise). The only difference I see is, in the UK it's very much "we'll lend you 3 x main etc.... whereas in Oz (based on the wonderful feedback I've received from this question) it's a case of "what career do you have and what's your affordability". I was purely wondering how long would it be before we could jump on that property ladder? Everyone out there....................... am I correct or am I talking out of my rear end and I am now slightly confused? Quote Link to comment Share on other sites More sharing options...
Guest Tony4052 Posted May 11, 2012 Report Share Posted May 11, 2012 Hi All, Albeit I'm still in the UK, but would like to know how long do you have to be in Oz before being able to get a mortgage? We will have a deposit, but not sure how it works out there? Any advice would be great. We have been here in Perth 4 weeks on Monday (14 May) and I was pre approved for a mortgage in my first week here. I have a 176 visa and all the bank needed was my Letter of Offer from my new employer. We have quite a big deposit (over 50%). We found a house that we fell in love with in the first weekend here and had our offer accepted. Mortgage was approved that week and we move in next week. The whole process seems to be very swept up, unlike the UK and if you would like any contact details of the people we used please PM me. In essence it has taken a little over 3 weeks to go from offering on the house to moving in.... Quote Link to comment Share on other sites More sharing options...
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