conroys Posted August 28, 2006 Report Share Posted August 28, 2006 Hi,Just wondering... Is it possible to get a bond to buy a house while still in SA or if you are in Australia but do not have PR?Regards.Jack Quote Link to comment Share on other sites More sharing options...
Olly Posted August 28, 2006 Report Share Posted August 28, 2006 I know you can if you are in Aus, and you have to get permission to buy a house if you don't have PR, I'm not sure if you are out of the country. Quote Link to comment Share on other sites More sharing options...
Pippa Posted August 28, 2006 Report Share Posted August 28, 2006 Dear Jack,According to my knowledge, one can buy a property, but need approval from the Foreign Investment Review Board. I am sure as far as bonds are concerned.Regards,Pippa Quote Link to comment Share on other sites More sharing options...
chatterbug Posted August 28, 2006 Report Share Posted August 28, 2006 Hi Jack - Yes you can buy a property and get a mortgage whilst still in SA without PR. This will be subject to the restrictions of the FIRB (as mentioned above). There are quite a couple of cpy's that specialise in these types of mortgages, don't know if they are the best in terms of price though. We used a cpy called Howard Pacific and changed to a better cpy/rate once we were here. Do some research you might get a better deal. We used a SA / Aus property agent to facilitate the purchase and we had a bank account etc set up by them for us etc. One of the things you should be aware of is that often you'd need to have a bigger deposit, say 40 - 30% for such a loan - but if you have the cash its OK. Make sure you check out these agents and their "cred's" because this is not the easiest of things to do from that side of the ocean Tip - to avoid cofusion, when talking "mortgage bonds" (SA style) refrain from using the term "bond" over in Aus - rather call it a mortgage loan. Bonds over here commonly refer to the "deposit" you put down on a rental property, which is kept in Govt trust. Hope this helpsBUG Quote Link to comment Share on other sites More sharing options...
Lindy-Lee Posted August 28, 2006 Report Share Posted August 28, 2006 Hi Jack - just thought of schuster movie there for a minuteYes you can buy a property and get a mortgage whilst still in SA without PR. This will be subject to the restrictions of the FIRB (as mentioned above). There are quite a couple of cpy's that specialise in these types of mortgages, don't know if they are the best in terms of price though. We used a cpy called Howard Pacific and changed to a better cpy/rate once we were here. Do some research you might get a better deal. We used a SA / Aus property agent to facilitate the purchase and we had a bank account etc set up by them for us etc. One of the things you should be aware of is that often you'd need to have a bigger deposit, say 40 - 30% for such a loan - but if you have the cash its OK. Make sure you check out these agents and their "cred's" because this is not the easiest of things to do from that side of the ocean Tip - to avoid cofusion, when talking "mortgage bonds" (SA style) refrain from using the term "bond" over in Aus - rather call it a mortgage loan. Bonds over here commonly refer to the "deposit" you put down on a rental property, which is kept in Govt trust. Hope this helpsBUGNot 100% sure but I have heard that stamp duties are more if you buy as foreign inverstor. If someone could confirm that, it would be great.Lindy-Lee Quote Link to comment Share on other sites More sharing options...
conroys Posted August 29, 2006 Author Report Share Posted August 29, 2006 Thanks for your great replies!! It helps to remove some of the confusion!! Quote Link to comment Share on other sites More sharing options...
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