Can you help?

[Mumprenuer]

Hoping someone here knows of a broker that may have specific experience with working with getting finance for newly returned Aussies.

My son is returning to Australia from NZ after 10 years, due to a job promotion and looking to purchase here in Victoria. They are all cashed up from selling their family home in NZ but need additional funds to purchase a family home for his wife and young son here.

Please let me know if you know of someone who could help out.

Thanks

 

[alexlee]

You're being overly dramatic. There's no reason why he'll be treated any differently just because he's been working overseas for a while.

 

[Aaron_C]

It shouldn't be an issue.....

 

[Colin Rice]

If he is a citizen/got PR then pretty straighforward by the sounds of it.

 

[Mumprenuer]

One bank - no broker involved - has told them: On 1 wage, 2 adults 1 child living expenses that the most they could lend them was $260,000 unless they get a family benefits grant totaling $250 a fortnight... They want (and could have accessed no problem in NZ) a loan for $380K as they have $220 - 240K as a deposit.

So overly dramatic? I don't thinks so.

Just looking for a broker who knows what they are talking about and can help them out.

 

[Colin Rice]

Borrowing potential varys considerably from bank to bank.

Most brokers have 20+ lenders to choose from so try another bank.

 

[alexlee]

One bank - no broker involved - has told them: On 1 wage, 2 adults 1 child living expenses that the most they could lend them was $260,000 unless they get a family benefits grant totaling $250 a fortnight... They want (and could have accessed no problem in NZ) a loan for $380K as they have $220 - 240K as a deposit.

This has nothing to do with the fact they just came back from overseas. They're assessed just like anyone else.

Actually, yes, I think you are being overly dramatic, if you're reacting like this to the results of ONE bank's assessment. Tell them to talk to a broker who has access to different lenders.

 

[LouiseHui]

We had a similar issue. Brokers wouldn't touch us, but we ended up directly approaching the banks with a letter from our employer confirming length of time with the company and that we had been transferred back to Syd. It made all the difference to us. Good luck

 

[Colin Rice]

We had a similar issue. Brokers wouldn't touch us, but we ended up directly approaching the banks with a letter from our employer confirming length of time with the company and that we had been transferred back to Syd. It made all the difference to us. Good luck

I would have suggested likewise. It is called "continueity of employment" in bank speak.

 

[Rolf Latham]

One bank - no broker involved - has told them: On 1 wage, 2 adults 1 child living expenses that the most they could lend them was $260,000 unless they get a family benefits grant totaling $250 a fortnight... They want (and could have accessed no problem in NZ) a loan for $380K as they have $220 - 240K as a deposit..

Whats the take home wage pls ?


ta

rlf

 

[Marty McDonald]

Whats the take home wage pls ?


ta

rlf

Income may be important. If they have any debts or commitments that may come into it too.

Tongue firmly in cheek.