Hi Everyone,
Any ideas what is the best way to buy a house in Oz while my UK house remains unsold? Is there a way to leverage on your UK equity or use bridging loans so you can get onto the property market at the level to meet family needs?

Waca

Provided you have a permanent job then getting a mortgage shouldn't be a problem but in the current climate you will need a substantial deposit. This I suspect will be your problem as you cant release the equity in your UK property to use as a deposit until it is sold.

I cant see a way round this I am afraid.

You might do best to talk to a mortgage broker.

If you post where you are then members here might be able to recommend a good broker in your area.

Do watch out for the shysters! Most brokers get paid by the banks for recommending their products so advice is not always impartial. Better if you pay a broker directly for good advice.

I am in south east Melbourne. Can anyone recommend a broker around here?

Cheers,

Waca