Ozzy mortgages

[jim&nik]

Please could anyone help. What is the rule of thumb to work out what you can borrow as a house buyer. short and sweet.

JIM.

Got to go new deadliest catch is on.;)

[Rob and Mel]

If you look for Andrew Williams on here is is a mortgage broker(think thats the correct term).

He has sorted us and lots of other poms out with very good deals.

If you can not find him let me know and i will find him for you.

Rob

[Hazel M]

Sorry I got no answers Jim - just more questions!!

I'm interested in how much of a deposit is needed nowadays... (looks like we'll be living on fresh air for a while as it is, with our house here not selling, but would still like to buy not too long after we arrive).

Cheers

Hazel.

[bergkamp10]

if your borrowing less than 80% of the property value the banks seem quite lenient

[Andrew Williams]

Please could anyone help. What is the rule of thumb to work out what you can borrow as a house buyer. short and sweet.

JIM.

Got to go new deadliest catch is on.;)

Hi Jim


There is no rule of thumb as such, it is based on a number of factors including income,how many adults/children in the household, any fixed expenses, credit card limits etc etc, then each Bank apply a buffer of around 1.5% ish which determines borrowing power.

Happy to provide detailed borrowing power for you based on your circumstances if you want to PM me.


Regards


Andy

[Andrew Williams]

Sorry I got no answers Jim - just more questions!!

I'm interested in how much of a deposit is needed nowadays... (looks like we'll be living on fresh air for a while as it is, with our house here not selling, but would still like to buy not too long after we arrive).

Cheers

Hazel.

Hi Hazel

Certainly 20% is the amount you would want to aim at ideally as it means that you will not pay lenders mortgage insurance (LMI) and as said offers a bit more flexibility.

However if 20% is a bit much then there are Banks/lenders offering higher loan to value mortgages some up to 97% but generally these require very strong applicants.

That said 90% loans at the moment seem to be going through without too many issues.


Regards


Andy

[The Hadleys]

Please could anyone help. What is the rule of thumb to work out what you can borrow as a house buyer. short and sweet.

JIM.

Got to go new deadliest catch is on.;)

Hi

If anyone is thinking of buying, I work for Elders Real Estate, Aberfoyle/Flagstaff, I will be more than happy to help you find a property.

Just give me a call 0425 381 964

Regards

Dawn