Gawie Posted January 31, 2007 Report Share Posted January 31, 2007 Hi there all,We are planning on moving to Oz in this year, but what we want to know from anyone is it possible to buy a house in Oz as a non-PR? All though with the capital, will they allow us to obtain it?Gawie Quote Link to comment Share on other sites More sharing options...
Johan Swanepoel Posted January 31, 2007 Report Share Posted January 31, 2007 You can buy a house, but you would need special permission.There is also certain benefits you receive as a PR that you guys would not receive with the non-PR, stuff.Try searching the forum I think it was mentioned before.CheersJohan Quote Link to comment Share on other sites More sharing options...
Cindylou Posted January 31, 2007 Report Share Posted January 31, 2007 Hi GawieQuick answer: Yes, you are allowed to buy on TR. But: you can only qualify for the first time buyers grant if you are a citizen or PR, check out www.firsthome.gov.auC'Lou Quote Link to comment Share on other sites More sharing options...
berndt Posted January 31, 2007 Report Share Posted January 31, 2007 Hallo GawieWe are here on a 457 currenlty (4 years) and thus we are not Permanent Residents.We have been looking into buying a house. (in Brisbane)If you are not a Permanent resident you can buy a house, but you need approval from the International review Board. This approval is given once you have a contract .So you first find a house, make an offer, get the the contract, ask for approval from the international review board, only once this is given will the bank give you a home loan.This webpage explains it well http://www.australia-migration.com/page/Fo...n_Australia/178We have submitted our application fro permanenet residency. (having nbeen here almost 6 months). If you purchase a house as a non- resident you also loose the first home owner grantHere are some other handy sites to look at when buying ahomeCheersBerndthttp://www.fairtrading.qld.gov.au/oft/oftw...L1=Publicationshttp://www.reiq.com.au/BuySellRent/buySteps.asp Quote Link to comment Share on other sites More sharing options...
Bob Posted January 31, 2007 Report Share Posted January 31, 2007 Sure . . . you can buy land in Australia for housing purposes, etc. as long as the Foreign Investment Review Board (F.I.R.B.) give you the nod beforehand, as Berndt has already mentioned.This has been around since 1974 when the Whitlam Labour gov't set the body up to monitor all overseas investment coming into Australia.Once you're a P.R. you can get access to all the bells and whistles ordinarily available to the rest of us . . . . . and that includes the first home owner's grant of A$7 000. . . . tax-free!Not to be sniffed at! Quote Link to comment Share on other sites More sharing options...
Gawie Posted February 1, 2007 Author Report Share Posted February 1, 2007 To all,Thanx for all the advise. I'm just considering all my options when we do move. W'll be coming over to Brisbane in April and we will be spending some time looking at properties, land, etc.Thanx again.G Quote Link to comment Share on other sites More sharing options...
Heather Posted February 28, 2007 Report Share Posted February 28, 2007 To all,Thanx for all the advise. I'm just considering all my options when we do move. W'll be coming over to Brisbane in April and we will be spending some time looking at properties, land, etc.Thanx again.GHi GawieWell this is my business, I am a mortgage broker on the Gold Coast south of Brisbane, so can help you with your questions. You can buy from South Africa as a foreign investor still using your South African income to service the loan, they do however have a limit as to what loan to value ratio they will lend to. You can also purchase once you arrive provided that you have a job, are not on probation and can produce payslips as well as last two years tax returns from South Africa. Not all banks will help you I am afraid, most of them will turn you down. Feel free to contact me if you wish as I can assist you in getting your home loan as I have helped a vast majority of South Africans who have moved over and were turned away by the banks. You will need FIRB approval which takes 30 days - so when signing a Contract to purchase, you have to make sure that your finance clause and your FIRB approval are due the same day as the banks will not give you an unconditional approval until your FIRB comes through. Also a lot of real estate agents do not know this - so you need to educate them, you also need to note that you can buy existing property subject to FIRB approval or if you purchase new - most developers already have FIRB approval in place and that means no application is needed and you can go ahead and put 14 days for finance. (PS I do all areas - so Brisbane not a problem )RegardsHeatherHi GawieWell this is my business, I am a mortgage broker on the Gold Coast south of Brisbane, so can help you with your questions. You can buy from South Africa as a foreign investor still using your South African income to service the loan, they do however have a limit as to what loan to value ratio they will lend to. You can also purchase once you arrive provided that you have a job, are not on probation and can produce payslips as well as last two years tax returns from South Africa. Not all banks will help you I am afraid, most of them will turn you down. Feel free to contact me if you wish as I can assist you in getting your home loan as I have helped a vast majority of South Africans who have moved over and were turned away by the banks. You will need FIRB approval which takes 30 days - so when signing a Contract to purchase, you have to make sure that your finance clause and your FIRB approval are due the same day as the banks will not give you an unconditional approval until your FIRB comes through. Also a lot of real estate agents do not know this - so you need to educate them, you also need to note that you can buy existing property subject to FIRB approval or if you purchase new - most developers already have FIRB approval in place and that means no application is needed and you can go ahead and put 14 days for finance. (PS I do all areas - so Brisbane not a problem )RegardsHeatherSorry GawieOne other thing - you can purchase on what they call a lo doc here - where you dont need tax returns etc...so dont feel overwhelmed by my email - there are ways to do things..you just need to know the systemsHeatherTo all,Thanx for all the advise. I'm just considering all my options when we do move. W'll be coming over to Brisbane in April and we will be spending some time looking at properties, land, etc.Thanx again.GHi GawieWell this is my business, I am a mortgage broker on the Gold Coast south of Brisbane, so can help you with your questions. You can buy from South Africa as a foreign investor still using your South African income to service the loan, they do however have a limit as to what loan to value ratio they will lend to. You can also purchase once you arrive provided that you have a job, are not on probation and can produce payslips as well as last two years tax returns from South Africa. Not all banks will help you I am afraid, most of them will turn you down. Feel free to contact me if you wish as I can assist you in getting your home loan as I have helped a vast majority of South Africans who have moved over and were turned away by the banks. You will need FIRB approval which takes 30 days - so when signing a Contract to purchase, you have to make sure that your finance clause and your FIRB approval are due the same day as the banks will not give you an unconditional approval until your FIRB comes through. Also a lot of real estate agents do not know this - so you need to educate them, you also need to note that you can buy existing property subject to FIRB approval or if you purchase new - most developers already have FIRB approval in place and that means no application is needed and you can go ahead and put 14 days for finance. (PS I do all areas - so Brisbane not a problem )RegardsHeather Quote Link to comment Share on other sites More sharing options...
Ingrid/ Hairdresser Posted March 12, 2007 Report Share Posted March 12, 2007 Hi GawieWell this is my business, I am a mortgage broker on the Gold Coast south of Brisbane, so can help you with your questions. You can buy from South Africa as a foreign investor still using your South African income to service the loan, they do however have a limit as to what loan to value ratio they will lend to. You can also purchase once you arrive provided that you have a job, are not on probation and can produce payslips as well as last two years tax returns from South Africa. Not all banks will help you I am afraid, most of them will turn you down. Feel free to contact me if you wish as I can assist you in getting your home loan as I have helped a vast majority of South Africans who have moved over and were turned away by the banks. You will need FIRB approval which takes 30 days - so when signing a Contract to purchase, you have to make sure that your finance clause and your FIRB approval are due the same day as the banks will not give you an unconditional approval until your FIRB comes through. Also a lot of real estate agents do not know this - so you need to educate them, you also need to note that you can buy existing property subject to FIRB approval or if you purchase new - most developers already have FIRB approval in place and that means no application is needed and you can go ahead and put 14 days for finance. (PS I do all areas - so Brisbane not a problem )RegardsHeatherSorry GawieOne other thing - you can purchase on what they call a lo doc here - where you dont need tax returns etc...so dont feel overwhelmed by my email - there are ways to do things..you just need to know the systemsHeatherHi GawieWell this is my business, I am a mortgage broker on the Gold Coast south of Brisbane, so can help you with your questions. You can buy from South Africa as a foreign investor still using your South African income to service the loan, they do however have a limit as to what loan to value ratio they will lend to. You can also purchase once you arrive provided that you have a job, are not on probation and can produce payslips as well as last two years tax returns from South Africa. Not all banks will help you I am afraid, most of them will turn you down. Feel free to contact me if you wish as I can assist you in getting your home loan as I have helped a vast majority of South Africans who have moved over and were turned away by the banks. You will need FIRB approval which takes 30 days - so when signing a Contract to purchase, you have to make sure that your finance clause and your FIRB approval are due the same day as the banks will not give you an unconditional approval until your FIRB comes through. Also a lot of real estate agents do not know this - so you need to educate them, you also need to note that you can buy existing property subject to FIRB approval or if you purchase new - most developers already have FIRB approval in place and that means no application is needed and you can go ahead and put 14 days for finance. (PS I do all areas - so Brisbane not a problem )RegardsHeatherHi Heather. I am currently resident in Canada. Coming to visit Brisabne arriving 20th March , leaving 10th April. Could you organize a motgage for me?What are the deposit requirements? I wish to purchase a small townhouse about $240 000 to $280 000aud in the Indooroopilly area. I am applying for Immigration with an agent. 90% there. Please contact me . e-mail hairsqd@yahoo.ca. Rgds Ingrid Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.