Okay Terry thanks a lot.

Tony

Understood, thanks everyone. One final question on finance being declined – if we sign the contract subject to finance, and finance is approved for us for 80% LVR but declined for the 90% LVR we want, does that qualify as finance being declined, ie. we can just walk away as Brahms mentions, or are we bound by the contract because it was approved…[Read more]

Thanks Terry for the heads up – but I don’t get it – how can they pull out? I thought a formal pre-approval was (excuse my ignorance) legally binding in some way? What basis could they use to pull out, and is there anything I could ask for that would cover me? I’m becoming increasing more resentful of these people so I don’t want to pay the…[Read more]

Thanks again guys. Stu – I have been back for more than 12 months, about 15 months now actually. Another thing I was thinking is if they don’t like the fact I didn’t put in a Aust tax return last fin.year, I can do so since I was in the country for 7 months of that fin.year – it will show all my non-taxable income from the UK and no tax taken or…[Read more]

Thanks a lot guys. Stu – regarding my being considered a non-resident, I talked to an accountant about this and he said that I can be considered either a resident or a non-resident, it depends which way I want to play it. I have a visa that allows me to work in the UK indefinitely if I want but I was born and raised here, so according to him my…[Read more]

Okay thanks Stu, I understand now. I assume all this goes for normal residential property – what if I was to start looking at commercial property, storage sheds, parking lots, anything like that? Would anyone be likely to lend, even if it’s at 80% LVR? I think Bluestone said no to that.

Thanks,

Anthony

Hi Terry,

Thanks a lot for this, this is useful. A couple more questions arise now though, anything you could advise please would be great –

– is it possible to contact either (or both) of the mortgage insurers to lobby our case directly with them?

– if we have to go Low-Doc, who do you recommend, and what kind of interest rates are we talking…[Read more]

Yes these are indeed brilliant thoughts, this answers my questions. I will post the finance question under the finance heading and see how we go.

Thanks a lot,

Anthony