Hi,

My partner and I are moving to Brisbane in December of this year and although we will have to start out on a short term rental, can anyone advise as to what is required and how difficult it is to buy a house in Brisbane on a Mortgage?

Please let me know on any information you have on this - Much Appreciated!!

 

Hello Snowy

As far as i know you have to have got a permanent job first of all. Think (though not sure) you have to be a resident. I do know that the banks will not lend as much if you have a credit card so try and go with a bank that does a visa debit card instead (ANZ i think does that as not all banks do). I know they take into account car loans, number of children weekly shop etc and they will lend more if you take it out over a longer period ie 30 years. It doesnt go on the set amount you earn x 3 or however it was done in UK. It also depends on what the interest rate is (if its high then they will lend less so best to wait til it goes down a bit but make sure you can afford the repayments) My mortgage jumped up $134 per month in one go!
Look on www.realestate.com.au as they have mortgage calculaters.
All the best
Georgie

 

All depends if you have PR. If you have PR there will be more banks willing to lend and you will also get the homeowners grant too.

WE bought on a 457 visa. If you do not have PR u will need permission from the FIRB too.