kellyjay Posted January 31, 2010 Share Posted January 31, 2010 hi all, can anyone offer me some advise on mortgages. we are heading to perth probally around sept, 175 visa hubbie is wall and floor tiler. had lots of info on what he can earn but i dont think we can be really sure on this untill we arrive. so questions are;- how long do we have to be in oz before we can apply for a mortgage? what is the avarage mortgage to have in oz? many thanks to you all. kelly.x Link to comment Share on other sites More sharing options...
Cerberus1 Posted February 1, 2010 Share Posted February 1, 2010 Hi Kelly The average mortgage size will vary state to state, but the national average late last year was around the $350,000 mark. You can apply for a mortgage immediately, but you'd obviously need to satisfy the banks normal lending criteria when applying for a home loan so you'd be looking at letters of employment / pay slips / contract of employment or documents showing income from investments, or other sources etc. Link to comment Share on other sites More sharing options...
The Flinns Posted February 1, 2010 Share Posted February 1, 2010 Hi Kelly I've sent you a pm. Link to comment Share on other sites More sharing options...
kellyjay Posted February 1, 2010 Author Share Posted February 1, 2010 thankyou both for your quick responce. will be in contact. thanks again kelly.x Link to comment Share on other sites More sharing options...
Guest Posted February 1, 2010 Share Posted February 1, 2010 HI Kelly. I'm a mortgage broker based here in Perth's northern suburbs. You'll love it here! Where abouts in Perth are you thinking of going? Mortgage wise, it will depend on your visa how big a deposit you will need. Most lenders will want you on a perm job for 3 months before applying. Most people will recommend that you rent initially, until you decide where in Perth you exactly want to be (its a big place). My average mortgage size last year was around the $400,000 mark, but if you were located near the sea, then this is much higher. In general, the further from the city and the further from the beach, the cheaper the prices. Obviously, like anywhere in the world, theres good areas and bad areas mixed in. PM me if you want me to give you some quotes. Link to comment Share on other sites More sharing options...
Guest sappyigor Posted February 3, 2010 Share Posted February 3, 2010 Once you have a decent job and a fairly steady income getting a mortgage should be easy. You can usually get around 70% of the value of the property you would like to purchase on loan at decent interest rates. Be sure you familiarize yourself with the different types of home loans available before getting a loan. It can be tricky, but there are very good deals out there, so take your time in selecting. Link to comment Share on other sites More sharing options...
Guest Posted February 3, 2010 Share Posted February 3, 2010 Once you have a decent job and a fairly steady income getting a mortgage should be easy. You can usually get around 70% of the value of the property you would like to purchase on loan at decent interest rates. Be sure you familiarize yourself with the different types of home loans available before getting a loan. It can be tricky, but there are very good deals out there, so take your time in selecting. Sappigor is correct, that's while its worthwhile ussing a specialized mortgage broker (Obviously I would say this but its true). The best deals will go up to 80% really. Link to comment Share on other sites More sharing options...
Guest scampie Posted February 11, 2010 Share Posted February 11, 2010 we sold our house in the uk at the height of the recession and its value was £80000 less than previous good years, this is what it lost in two years. any way we cannot bring over our equity yet as echange rates are not good, but even when we do we have been told a salery of about $90 k is required for a decent mortgage as house prices are about 400 to 450 in queensland. this means we will never be able to afford our own house again even though we had a four bed in the uk. As my husband will only get about 60 to 70 at most if hes lucky if he can get loads of overtime. even though he earns more here basic wage the prices of houses are so much more expensive, unless you are lucky to come from area where prices were high in the uk. in gloucestershire where we came from the adverage house was £200000. so bit fed up Link to comment Share on other sites More sharing options...
Guest Will&Lynsey Posted February 11, 2010 Share Posted February 11, 2010 Hi kelly I've sent you a PM!! Lynsey Link to comment Share on other sites More sharing options...
Guest Lee The Mortgage Man Posted March 12, 2010 Share Posted March 12, 2010 Hi Kelly I live in Th enorthern suburbs of Perth and have access to over 20 lenders. All the Banks are different and some will lend more than others based on what they call your servicability. They work this out on an number of things including your current assets and liabilities, deposit and obviously income. If you have a 20 % deposit or more, you will avoid LMI (lenders mortgage Insurance) this covers the lender - NOT YOU - in the event that you default on you loan. so try to avoid that if you can, as it can be quite expensive Difficult to say how much you can borrow without taking all these things into account. I am more than happy to help if you don't have anything sorted yet., get in touch Hope this helps Cheers, Lee Link to comment Share on other sites More sharing options...
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