For anyone who is interested.

I have a student friend at uni, she is on a temp visa like me.

She has just bought a house.

Usually when on a temp student visa you have to apply for Foreign investment permission, which may take up to 30 days and you can only buy a house for up to $300,000.

Well she rang them up and they told her that with postgrad students they are a little more lenient.

She got permission to buy a house over $300,000 in two days!!!!

Also when she applys for her perm visa in two years, she won't have to sell up when on the bridging visa.

Just wish I'd known earlier!!!

Tracey

Fantastic Tracey! Are you and Wayne going to buy now? Yippeeeeeee! :bouncing smiles:

Good luck with those exams, by the way. Such a relief when they're all over!! :dance:

thanks Julia,

I had one last night and today, so thats it for two weeks. No uni work Yippee!!!

The only problem with the house buying front is that now we only have 9 months on the visa. there is another clause that says you need 12 months. But we are in the process of getting another six months added as my course is now six months longer.

But I also think that they may be lenient in that way, so I am going to ring them tomorrow and see what they say.

You never know I might buy a house next week when I'm bored with no uni work, much better than cleaning :dance:

Tracey

Damn right! Why clean when you can just buy a new one! :lol: Good luck, keep us posted. :D

Julia x

How do you think the exams went then Tracey?

That's good news for you on the home buying front.

Sasha :)

Thanks Sasha,

I was a bit worried about the exams, since starting my job I have not been able to dedicate every waking hour on my uni work.

However, the bonus of working, is all the reading time that I get to do on the train, so I have actually studied more than I realised.

The exams covered a wide range of topics, so I am really pleased that I kept up with the reading. I am infact looking forward to my next two courses, Mangerial Economics and Commercial and Corporations Law, medium 114.

Anyway, thats five courses complete and only seven more to go.

I am almost half way, yippee :dance: .

Thanks for letting us know Tracey&Wayne.

As you know we will be following in your footsteps and this is great to know this information.
Although not sure how we will be able to get mortgage when we get there - unless Garry gets full time job sharpish. But great to know we have the possible option

I am thinking about applying for the same course as you as couldn't find any others that are suitable. Did you apply for the 18 months and are now extending to 2 years. - unsure of how to go about it.

Kath :)

Interesting to know that Tracey. Funnily enough Jon and I went to Bernie Lewis Home Loans last night and have applied for a mortgage - I'm a temporary resident so we'll see how it goes. We've only asked for $250,000 at this stage but fingers crossed. I have to get my temping agency to provide evidence that I've been working for them since arriving here but that shouldn't be a problem. Will keep you posted ....

:sign03:

You can buy mine.....it's the first open this weekend :)

Kath,

The course is now run over 2 years, so if you apply you would get a two year visa.

They changed the length after I applied, we decided to come for 18months anyway, hoping that somthing would change, and sure enough it did. Its just a formality for us, but you should be OK.

The foreign investment board advised me that they are not concerned where we get the funds from, and they would give permission for us to buy a house up to the value of $400,000. They also advised me that even though I only have 9 months left on my visa, they would accept a letter from uni, to say they had extended my course.

Next its a trip to the Bank, anyone on any good mortgage deals!!!

Tracey

That's even better Tracey as at least you don't have to wiat for your visa to be extended.

There was a recent thread on mortgages with a few suggestions, might be worth a look.

Good luck and let us know how the house hunting goes.

Sasha :)

Now you're talking - house hunting - I can't wait. Will be like a Busmans Holiday for me. It will make a change looking for a house for us instead of other people.

How long does house buying process usually take???????? - anyone know. From offer to completion.
May have to think seriously about buying rather than waiting for two - three years and spending all of that money paying somone elses mortgage.

Kath
:bouncy:

Hi Kath,

My understanding is that it can be a matter of weeks, not months, from offer to completion! Obviously if you are building it would take a lot longer.

Julia :)

Can be as little as 6 weeks and can be less as you have no house to sell


Sheila