Hi,

I currently have shared ownership of a property in England with the other person living in it and paying rent.(leaving me £87 pcm to pay) Will this effect me getting a mortgaage in Oz (Brisbane)?

Also on $60K (I'm single no kids) what am I likely to be able to borrow on a regional provisional visa? How much deposit is normally asked for?

Thanks for the help.

George

quote:

Originally posted by George R79:

Also on $60K (I'm single no kids) what am I likely to be able to borrow on a regional provisional visa? How much deposit is normally asked for?

Thanks for the help.

George

G'day

I'm not an expert on visas but I believe the one you said is a temporary visa. If so, you will need a deposit of at least 20% plus all fees. You will not be eligible for any government grants or reduced fees.

You may also find that the banks here will assess your UK mortgage very differently from what you do. They may consider that over $400 per month of your Ozzie income income is required to service your UK mortgage rather than the around $200/month you allow.

Assuming you have no other debts or credit cards, your maximum loan from a bank may not be much more than $250K

Don't forget, you'll need FIRB approval to buy any property.

HTH