I am looking to emigrate in 2007 to the Perth area. I am wanting a bit of advice on investment in property in oz.
Is the buy to let mortgage similar to that of the uk in that you are required to have a 30 percent deposit of the purchase price of the property?
Any advise on this and possible development would be much appreciated…..
thanks roger….Hi Microbubble,
Lenders in Australia are far more attuned to lending on investment property than UK lenders and you can get up to 100% of the purchase price through a major lender (106% of the purchase price for a non-major lender), and the rental is counted in your serviceability. However, as a foreign national the maximum you could get would be 80%. You require approval from the Foreign Investment Review Board and you’re away. Feel free to contact me if you need any assistance.
Kind Regards,
Cameron Perry
Finance Consultant
F.R. Perry & Associates
Level 13, 30 Collins St
Melbourne VIC 3000
Ph (03) 9662 1999
Fax (03) 9662 2044Hi Roger,
For Australian residents there are no restrictions on the required deposit, e.g. 20% – 5% deposit and no deposit 100% finance is also available. Cheers.Regards
Steven
Mortgage BrokerMobile Mortgage Market
Ph: 0402 483 216
[email protected]
http://www.mobilemortgagemarket.com.auPLEASE note comments made should not be taken as specific taxation, financial, legal or investment advice.
Roger
Which part of the UK are you from?
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Perth in 2007? Better get something now before it goes another 20%. As most of the WA forumites well know, anything would be better than nothing right now. Theres been a heap of discussion on this & other forum re WA. And you’ve obviously seen the plethora of brokers than can assist in finance. Good luck!
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