Buying Property

[Tones]

Hi Everyone

Is anyone able to help me. I have heard that if you go on a temp visa and aren't actually a citizen in Australia it is hard to buy a house and get a mortgage. They apparently charge you more on a temp visa for mortgage repayments. Has anyone experienced this?

Thanks

[Django]

There was an aussie guy on wanted down under this morning explaining it all. Have a look at the BBC iplayer and watch the programme. It will answer your question. I have put the link on the 'wanted down under' thread.

Pete

[Cat]

Hi,
I bought a place recently and am on a temp visa. I found there are a couple of rules and you have to go through the foreign investment review board.. if you buy an existing dwelling you aren't allowed to rent any part of it out under temp visa, and i think there may be rules about having to sell it if you leave.. but you can buy a brand new place and rent it and don't have to sell it if you later leave Australia. I didn't have any problems with mortgage interest rates (got the regular rate) but they were only prepared to lend 80%, and some lenders will only go 60%.

[Tones]

Thanks for this information. I am glad that it is ok to get a mortgage etc. I can't wait to get there to start a new life with my family.