All Topics / Help Needed! / help needed to get started

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  • Profile photo of madankumarsmadankumars
    Member
    @madankumars
    Join Date: 2003
    Post Count: 5
    March 3, 2004 - 9:31 am

    Hi there

    i am a 26 yr old IT consultant from London, UK. I am interested in buying a property in sydney’s lower north shore area (chatswood/roseville/artarmon/willoughby), where I will be eventually moving to.

    I was in Sydney until Dec 2003 on a work visa for almost 4 years and I am in love with that place. I have applied for skilled migration which I am expecting to come through sometime next year.

    I am aware that I need to get permission from FIRB to buy property in Australia, but not quite sure whether I can buy a used property or only off-the-plan ones.

    I have bank accounts in Australia and spotless credit ratings. ANZ was happy to provide me a mortgage in Nov 2003 but I am not sure whether they’ll help me now because I am working overseas.

    I’d be great if somebody could guide me / put me on to someone similar to my position!

    thanks very much

    ps: i know! i should have done this when I was there in Sydney ….. i was just too lazy!

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429
    March 4, 2004 - 8:23 am

    Hi madankumars

    Yes, it’s a bummer that you didn’t do something while you were out here. I guess the first thing you need to do is to check out the FIRB website (but I don’t know what it is, sorry).

    Then if all things are go, contact a Mortgage Broker who should be able to tell you whether or not/how much money you could borrow.

    Cheers
    Mel

    Profile photo of madankumarsmadankumars
    Member
    @madankumars
    Join Date: 2003
    Post Count: 5
    March 4, 2004 - 9:43 am

    Mel

    thanks for responding. The Foreign Investment Review Board(FIRB) provides permission to us foriegn expats to buy property in Australia.

    I found out that we can buy only off-the-plan properties as an investment. second hand properties, if bought, must be lived in (that is not possible for now).

    could someone kindly give me a guidance as to whether this is the right time to buy off-the-plan properties in sydney?

    thanks

Viewing 3 posts - 1 through 3 (of 3 total)

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