My kiwi mate has finally seen the light and is moving to Perth. First question he has is, if he is self employed (he is a plasterer) in Australia how long does he have to wait until he is eligible for a home loan. Second question is he is keeping his house in NZ as a IP. Can he use the equity in his house in NZ against the purchase of a house in Australia.
Thanks
ned kelly
He would have to wait 1 day before qualifying for a 70% No Doc loan.
He could use his NZ house to get a LOC (over there) and then bring this across for deposits.
Terryw
Discover Home Loans
Parramatta
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Terry, thanks for your reply, doesn’t he have to have been self employed in Australia for 2 years to get the no doc loan?.
What would be the position re getting a 90-95% loan.
Thanks
ned kelly
No, 1 day old ABN would be OK for 70% No Doc.
for a 90-95%, probably around 3 months employment history would be needed if PAYE or 2 years if self employed.
Terryw
Discover Home Loans
Parramatta
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Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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