Mortgages when income is not from Australia

[Monkey2645]

I know it's a long shot that anyone's been in this situation, but wondering if anyone knows what the requirements are for being agreed for a mortgage.

 

My husband has a good job in the Middle East - he's waiting for his visa so is staying here for the time being and possibly a bit longer dependent on getting a job in Perth etc. I'm coming in November to get the kids sorted for school etc. If (only if) I decide I want to buy is there any chance of getting a mortgage based on his earnings? He won't be resident and I'm guessing that could be a deal breaker but any thoughts on whether it's feasible would be welcome.

 

Thanks.

[newjez]

I know it's a long shot that anyone's been in this situation, but wondering if anyone knows what the requirements are for being agreed for a mortgage.

 

My husband has a good job in the Middle East - he's waiting for his visa so is staying here for the time being and possibly a bit longer dependent on getting a job in Perth etc. I'm coming in November to get the kids sorted for school etc. If (only if) I decide I want to buy is there any chance of getting a mortgage based on his earnings? He won't be resident and I'm guessing that could be a deal breaker but any thoughts on whether it's feasible would be welcome.

 

Thanks.

I would get in contact with a broker if I was you.

[Andrew Williams]

I know it's a long shot that anyone's been in this situation, but wondering if anyone knows what the requirements are for being agreed for a mortgage.

 

My husband has a good job in the Middle East - he's waiting for his visa so is staying here for the time being and possibly a bit longer dependent on getting a job in Perth etc. I'm coming in November to get the kids sorted for school etc. If (only if) I decide I want to buy is there any chance of getting a mortgage based on his earnings? He won't be resident and I'm guessing that could be a deal breaker but any thoughts on whether it's feasible would be welcome.

 

Thanks.

 

Hi

 

There could be solutions for people working outside of Australia.

 

That said the hurdle could be that the income he is currently earning will cease when he moves to Oz and so this would have to be declared as a change to future income.

 

As mentioned above when you arrive source a Broker, they would be a good option as they will be able to explore different lenders policies for your circumstances.

[tooz2012]

I know it's a long shot that anyone's been in this situation, but wondering if anyone knows what the requirements are for being agreed for a mortgage.

 

My husband has a good job in the Middle East - he's waiting for his visa so is staying here for the time being and possibly a bit longer dependent on getting a job in Perth etc. I'm coming in November to get the kids sorted for school etc. If (only if) I decide I want to buy is there any chance of getting a mortgage based on his earnings? He won't be resident and I'm guessing that could be a deal breaker but any thoughts on whether it's feasible would be welcome.

 

Thanks.

 

Not being a resident can be tricky but a friend of mine (resident) and his spouse (not a resident) bought a place with mortgage while he was working overseas. There are other more complex ways like trusts and such but you need proper legal advice. A broker is a good start but be sure to talk to more than one. Also, depending on where you are headed not buying right away may also be a good thing. Perth for example is a declining market at the moment.

[Nigel Abery]

Hi, to answer your question, yes, some lenders will consider overseas income provided that you meet their documentary evidence requirements. Cheers!

Edited November 10, 2015 by Rossmoyne
Edited to remove advertising.