Guest Lulujim

A Place in the Sun!

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    Guest Lulujim

    Hi,

     

    We are coming over to SA in 4 weeks time and are very lucky to be be filming for a Place in the Sun! The first week of our trip is filming, and then we have 2 weeks after to do as much research and have fun with our girls.

     

    I know we can't buy without our visa, but was wondering if anyone has bought as a Foreign Investor before getting their Visa? I believe it has to be a plot of land or new build only, and can not be let - but are there certain conditions/drawbacks too... bigger deposit, higher interest rate on mortgage etc??

     

    When we get our visa, how do we transfer it form an investment property to our primary residence?

     

    Any advice or experiences would be gladly welcomed. :)

     

    Many thanks, Alexis

     

    P.s - Am I crazy to even think about buying without a visa in hand?

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    Guest jill wright

    Whoo how exciting I'll certainly watch out for that one how you manage that good luck

     

    Jill

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    Guest Lulujim

    I saw Amanda Lamb on Loose Women saying they were going to film a series in Aus and NZ. I went on to C4 website, filled in application form - and finally got a yes 3 weeks ago (applied in April!). Can't wait, but want to give the best chance of finding us something we can buy As there is this annoying backlog in visas, thought we'd have it by Oct originally, we can only buy as an Investor, or make an offer' Subject to Visa'!

     

    How are you? Still going ahead with your plans etc? x

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    Guest Em76
    Hi,

     

    We are coming over to SA in 4 weeks time and are very lucky to be be filming for a Place in the Sun! The first week of our trip is filming, and then we have 2 weeks after to do as much research and have fun with our girls.

     

    I know we can't buy without our visa, but was wondering if anyone has bought as a Foreign Investor before getting their Visa? I believe it has to be a plot of land or new build only, and can not be let - but are there certain conditions/drawbacks too... bigger deposit, higher interest rate on mortgage etc??

     

    When we get our visa, how do we transfer it form an investment property to our primary residence?

     

    Any advice or experiences would be gladly welcomed. :)

     

    Many thanks, Alexis

     

    P.s - Am I crazy to even think about buying without a visa in hand?

     

    Hi Alexis,

    We bought some land in August 07, got our visas in November, We had to apply for the FIRB approval, this seems to be a formality and the approval came through within a fortnight (they don't ask / care whether you are applying for a visa). We didin't buy it as an investment property. FIRB asked us to keep them notified of our progress with the build eg, when we had signed a building contract and when we had completed the property. We got our visa in the middle of this and simply e-mailled them to let them know and we were 'set free' from them!

    Our house is well underway and should be ready by Christmas, we land in January, so I don't think we were crazy to buy without a visa - but then nothing has gone wrong for us! If you want anymore info just ask or PM me.

    Good luck with your visit

    Em

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    Guest Lulujim

    Hi - That's fantastic news! :) Thanks for the post.

    So - you did you put the 20% deposit down - and get a mortgage based on UK earnings? This is what we think we would do if possible..I believe you only pay interest on the mortgage needed for the next part of the build, and it increases as the building work increases?

    It would be lovely to have a house to go to, and to know exactly about furniture etc etc.. Can I ask where you bought? x

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    Guest Martin and Val

    Hi Alexis,

    Wow, can we have your autograph please?:)

    May see you there we land on the 22nd Oct.

    Good luck with it all.

    Martin and val

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    Guest Lulujim

    Ha ha!! Would love to see you there, we are there until 12th Nov - I bet you're thanking your lucky stars you're not on the same flight as us!!!! x

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    Guest the4hopes

    Can we all be in the back ground so our families can see us????!!!

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    Guest dempseys

    Hi,

     

    Ive just ready your post. We bought before we moved here. There are a number of things to consider.

     

    I found land being sold on the Point in Noarlunga downs, I approached the agent who inturn put me nto a conveyencer and mortgage advisor. You wil notice here everyone knows each other in some way.

     

    I cant quite remember the amount of deposit, it was 20% deposit and the mortgage will be an investment loan. This has a slightly higher interest rate. However in the contract you will have a condition as to government approval. You need to apply to the OZ governemnt for investment approval. There is no issues getting it, though they will require an anticipated build cost. Your approval is subject to your home build being started within 12months.

     

    Therefore I contacted a builder for a home we liked and via emails confirmed our designs and after arriving here we made our final selections. Here you get to choose everything from the colour of grout for the tiles to brick and roofing colour. This cant really be done fro the UK.

     

    For us the builder has been great and they have started foundations last week. Were now renting arond the corner. We estimate a 6 month build time.

     

    Now were here we can get a residential mortgage and not an investment mortgage. We paid off our land after we arrived. If you dont want the mortgage on your income multiple, you need to put 40% down.

     

    If you want to know any more in greater detail, let us know.

     

    Oh bear in mind interest rates here are betwen 9-10% approximately, depending on you introductary rate you`ll prob get .7% reduction (residential). We used the ANZ both times, the service has been fantastic. Once you have an account you can use online banking from the UK (very handy), transfer money via HIFX, you get better rates above £5K. Oh the exchange rates are not as good as they have been in the past. Not sure where they will go.

     

    Sorry to waffle on, good look.

     

    Mark

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    Guest Em76
    Hi - That's fantastic news! :) Thanks for the post.

    So - you did you put the 20% deposit down - and get a mortgage based on UK earnings? This is what we think we would do if possible..I believe you only pay interest on the mortgage needed for the next part of the build, and it increases as the building work increases?

    It would be lovely to have a house to go to, and to know exactly about furniture etc etc.. Can I ask where you bought? x

     

    We bought on the Ascent development in Mount Barker, we also looked at the Sunday estate in Aldinga, but always had our heart set on living in the Hills.

    We didn't need a mortgage to buy the land, and then we sold our house here to make the rest of the payments for the build.

    We bought the land in August, paid a $5000 deposit for it, paid the remaining $150000 in October on completion of buying the land. We commissioned Rossdale who we paid $3500 to in August and they completed the soil checks etc for us.

    We then flew out in March to validate and sign our building contract, made our house selections. We have then had to pay 20% of the build cost when our footings were poured (3 months after we signed the contract for us), 20% on completion of the frame, 25% when the bricks adn roof are completed (we paid this last week) , then we have 25% after '2nd fix' and the final 10% on handover. I am sure the builders differ but this should give you some idea. Our house is due to be completed in December.

    Of course we are spending money like water here now - buying another sofa as we have 2 living areas, Mum is making curtains for us like there's no tomorrow - but as you say it is great to have a head start on these things, and some things are cheaper here (or at least I get that impression)!

    Where are you thinking of buying?

    Em

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    Guest Lulujim

    Thank you so much for all your help - we are now so excited about coming out for a reccie and possibly house-hunting too!! :jiggy:

    Will let you know how we get on - and might PM you with a few more qus to save boring others with it. :GEEK:

     

    Many thanks, again,

     

    Alexis

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    Guest warren1832

    Hi Alexis,

     

    Lucky you, bet you cant wait!!. How did you manage to get on there, the wife and me keep looking out for chances to get on programmes like this but cant find any. Are we too late?

     

    Cheers

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    Guest Lulujim

    HI - Afraid so. All the flights are booked etc. for this series, will let you know if I hear of them filming anymore though... We were extreme;ly flukey - nothing like this ever happens to us! Good luck, hope something comes up for you both x

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    Hey do you get to meet Amanda? Or is it the aussie version of her?

    When is this going to be on tv?

    Dont forget to carry Flossy everywhere with you incase you get your bikini out for the cameras!!

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    Guest warren1832

    Fair play to you, all the best, hope you find what your looking for. When you on the telly then?!!

     

    Mike

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    Hi,

     

    We are coming over to SA in 4 weeks time and are very lucky to be be filming for a Place in the Sun! The first week of our trip is filming, and then we have 2 weeks after to do as much research and have fun with our girls.

     

    I know we can't buy without our visa, but was wondering if anyone has bought as a Foreign Investor before getting their Visa? I believe it has to be a plot of land or new build only, and can not be let - but are there certain conditions/drawbacks too... bigger deposit, higher interest rate on mortgage etc??

     

    When we get our visa, how do we transfer it form an investment property to our primary residence?

     

    Any advice or experiences would be gladly welcomed. :)

     

    Many thanks, Alexis

     

    P.s - Am I crazy to even think about buying without a visa in hand?

     

     

    How exciting:jiggy: we went for a screen test with place in the sun think the girls name was Natalie nice girl but thats as far as it went for us but I'm glad they are going to adelaide. Good luck and come back and let us know how it went.

     

    Tina xx

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    Guest Lulujim

    Yes that's right - Natalie (manchester). They're coming here on Weds to do the filming bit at home first.... very nervous actually!!?? Hope it goes ok!

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    Guest Lulujim
    Hey do you get to meet Amanda? Or is it the aussie version of her?

    When is this going to be on tv?

    Dont forget to carry Flossy everywhere with you incase you get your bikini out for the cameras!!

     

    Hahaha.. she will be permanently strapped to me and I think I might say she's younger than she actually is - just a big baby!! ;)

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    Guest nichola

    Do you know when they will be screening the programme in the UK after you lucky guys have finished filming it. It would be great to get an insight into the cost of a new build etc. as all the programmes at the moment are out of date with exchange rates and property values.

     

    Good luck by the way in finding your dream home/plot.:wubclub:

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    Guest Lulujim

    Hi - Early 2009 I think (hopefully when we've got our visas or else work will see it first :err:) Will let you know if/when I get a date! Thanks for all your knid wishes x

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    Guest nichola

    Can I pick your brains when you get back so me and my husband can work out how much we will need to budget for a new home over in Adelaide. We are finding it so hard to find out details at the moment.

     

    We are off to the Leeds Expo next month to pick lots of organisations hopefully. Then we'll have to decide on who to use as our agent start the process and then play the waiting game with lots of patience.

     

    Enjoy

    Nichola:cute:

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