Thanks again Terryw;
I couldn't get 0.8% discount but I did get 0.7% on both the LOC and we aren't borrowing very much so every little bit counts.
Newdawn
Hello guys !
Sorry I am new in the Real Estate World, what do these words mean?:
PPOR = Place of Permanent Residency ?
O&A = ?
NCPP = ?
LOC = ?
IO = ?
Cheers
Alex
Alex
O & A – Offer and Acceptance
NCCP = National Consumer Credit Protection (think the acronym is wrong)
LOC = Line of Credit
IO = Interest Only
Richard Taylor | Australia's leading private lender
Hi Richard,
One more time, thanks very much !
By the way, do you know a mortgage broker who I can ask a question? I just wanna know if it’s possible to borrow money with the temporary resident visa I have. The process is not very clear for me in the FIRB website.
Cheers
Alex
Hi Alex
Sure you can ask me any question you like.
Drop me a short email with the details and i can come back to you.
Richard Taylor | Australia's leading private lender
Thanks Richard!
Here's my doubt:
What is the process to buy a property for non-permanent residents living in Australia? , regardless if it's for investment purposes or not. I read the FIRB website, I saw the elegibility criteria, and the application forms but still I don't have the steps clear. Do I borrow money from them ? Do they give me an approval to go and borrow money from a bank/lender? LVR? Does it take too long?
Me and my partner have a temporary resident visa 475 for skilled migrants, it's a regional visa sponsored, in our case, by the SA Government, it lasts for 3 years, and we've been here in Australia almost one. In 1 more year we'll become permanent residents and can live wherever we want in Australia, at the moment only in SA . We are interested in property investment but there's this big doubt that I am trying to get solved.
Cheers
Alex
The FIRB is not concerned with borrowings, just the purchase. You can borrow – the only problem is finding a lender willing to accept you which won't be easy as you work is temporary in nature.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I think you can overcome the temporary work position as long as the lvr is less than 80% and everything is sufficient.
Richard Taylor | Australia's leading private lender
Thanks Richard,
Do you know any mortgage broker who I can ask this question? Possible lenders, etc
Err, Richard is a broker.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Oh really? lol sorry, I just read Financial Broker, I thought it was different.
Thanks Terry
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