Mortgages

[trevorpayne]

How long do you have live in Australia before you can have a mortgage.

Its just that I have seen a few houses we like and could afford.

We just wondered if there was a time limit of how long you have to reside there.

Any info greatly appreciated.

 

Trev Vicki and Lauren

[Burke Clan]

HI Trev & Vicki,

 

I chatted to the Financial Advisor the other day when they had the live chat conference on this forum and he said you only needed I think it was 4 weeks' payslips and obviously a permanent visa. According to him there's no time limit and you can get up to a 95% loan.

Hope this helps a bit

 

Riana

[Andrew from Vista Financial]

Hi Riana

 

 

It was actually me that you spoke to on the chat, hope you're well.

 

Yes it is possible in some cases to secure a 95% mortgage and almost straight away, there will be some factors involved though that will make this possible.

 

Firstly, visa types, permanent residents can borrow over 80% up to 95% in some cases but temporary residents are restricted to a maximum of 80%.

 

Also in relation to employment, as long as there is continuity in employment in a role/industry in the UK for at least 2 years and that person has secured employment in Australia in the same role/industry it is possible to obtain a mortgage pretty much straight away subject of course to the usual checks and income affordability.

 

 

Andy