Hi, it's because we decided to live in an expensive area in the catchment area for a good school and not very far from the CBD. House prices are rediculous and only hubby is working. We're 42 and 38 so biding our time until we can move somewhere cheaper - or win the lottery! It's daft because the rent we're paying proves we could afford mortgage repayments but its the way the borrowing power is calculated means we can't borrow what we needed. At least we like our rental and would be happy to stay here for the next few years.
Decided to move Nov 15, skills assessment submitted engineers australia 29 Jan 16, Hubby IELTS passed 20 Feb 16, positive Skills assessment with Engineers Australia end Apr 16. EOI Submitted 11 June, Invitation to apply beginning July. Application submitted 11th July CO assigned after 3 weeks. House up for sale 6th Aug. Police checks back 10 Aug Meds booked 17th Aug. Visas granted 13th Sept, house sold 26th October. Landed 11th January '17
If both or only one of you are working can also make a big difference to how much you can borrow. For example, if only one is working and you have 2 kids, then 3 are fully dependant on 1 wage. My income was taken into consideration even though I only earned a paltry $7000 for a few hours a week