Cost of living figures

[onthemove]

Hi,

Can anyone tell me what the requirements are for a UK citizen to be able to get a mortgage or a personal loan for example do you need some sort of social security number, how do they confirm your credit rating.

[kaz101]

Hi Onthemove,

Your credit rating starts again out here so there is no taking your credit rating from the UK (or anywhere else).

The banking system isn't as sophisticated as some others so most things rely on income so your salary is important here.

To buy an existing property here I think you have to be a permanent resident, but you can still buy new property (apartment, house or house & land package) if you are not permanent.

I've been told that having credit cards with a high limit in Australia can actually work against you when getting a mortgage since a bank can assume that you spend all that money and then have to pay it off.

Most people rent initially to check out the area and also to make sure that they have a job before applying for a mortgage. We actually bought our place here while we were still in the UK since we knew our income would drop dramatically when we moved, but it meant that we could only borrow up to 70% of the value of the property as non-residents.

If you check out some of the banks websites they may offer more specific help or contact a mortgage broker over here.

Regards,
Karen

[kaz101]

for example do you need some sort of social security number

I think the usual requirements that they ask for is proof that you are who you say you are (passport), whether you are permanent (visa approval) and address (bills, bank statements, Australian driving licence etc.).

When you start earning you'll require a Tax File Number which is from the Australian tax office. (Not sure how this is usually arranged since we had an accountant get ours since we were earning in Australia before we moved here.)

Regards,
Karen

[QSfamily]

[quote=kaz101;15508]


To buy an existing property here I think you have to be a permanent resident, but you can still buy new property (apartment, house or house & land package) if you are not permanent.



Why is it that temp residents cannot buy existing properties? My friend in NSW told me the same thing but when we visited Perth, noone we spoke (Aussies) to were aware of that and my husband claims that when he popped into Westpac and enquired about mortgages, they didnt think it was an issue whether we bought an existing property or newbuild.

[kaz101]

[quote=QSfamily;15578]

Originally Posted by kaz101

Why is it that temp residents cannot buy existing properties? My friend in NSW told me the same thing but when we visited Perth, noone we spoke (Aussies) to were aware of that and my husband claims that when he popped into Westpac and enquired about mortgages, they didnt think it was an issue whether we bought an existing property or newbuild.

I've been told that these regulations came in because a lot of property was being bought by people who didn't live in Australia and the government wanted to control that.

Unless Aussies are used to dealing with migrants then they would not know about it. We know about it because we were buying property here when we lived in the UK and that's when we can across FIRB approval. Temp residents cannot buy existing property without FIRB approval and most Aussies either don't know or can't be bothered to do that. A lot of new property (such as blocks or apartments in Melbourne CBD) go through the FIRB approval process before they are put up for sale knowing that they will attract foreign investment. Only a certain amount of property is allowed to go to foreign investors and the rest has to go to Australians.
For more information see FIRB: Residential

Regards,
Karen

[trickeygirl]

Hi! salary if $85,000 is ok.

you will receive about $1200 a week in the hand.
Family of 4 - monthly costs - this is the basics - no mobile, entertain, etc.
Groceries - $1000.00 (a month)
Car Insurance - $40.00 a month (age and value of car is to considered)
Rego - $52.00 a month (V6)
Elect - $100.00 (moderate use)
Health Ins - $145.00 (
Telephone $100-120.00 (I make no overseas calls)
Fuel - $260.00

Rent in brisbane can differ quite alot. from $250.00 a week to anything. The further you rent from the city the less you pay. Driving is alright most of the time. Public transport is okay.

[kaz101]

We live in the Gold Coast about 40 minutes away frokm Brisbane and these are our costs...... hope this helps..............

Food $700 per month
Electricity $300 per quarter approx
Gas We dont have gas where we are. not alot of houses do have gas though.
Rates $950 per 6 months, this includes water
Petrol $1.25-1.30 per litre, on tuesdays people queue at the pumps to get it 5 cents cheaper, if that!

Real Estate Fees, are different in different states too. If you sell you will pay the standard reiq fee with most recognised agents which is 5% of the first $18000 and 2.5% thereafter. its alot anyway!

Stamp duty on a $500,000 home is $10,000, this changes for different price houses......

Tins of paint come in either 2litre or 4litre as standard, and the deeper colour you use the more expensive the paint. a 2 litre light pink we just bought cost $45.00

You can get Coronation Street over here, Emmerdale, Eastenders and we just watched your recent 'Im a celebrity get me outta here'

hope this all helps............................................. .

if i can be of further help.................................

Meg
__________________
MEG RITCHIE
RELOCATION AGENT
Moving 2 Australia - Relocation Packages for moving to Australia, Brisbane, Sydney, Melbourne, Adelaide, Perth
enquires@moving2australia.com.au

[qarezma]

what is the cost of a car of 2Litres in Oz? does it differ in cities?

[kaz101]

Originally Posted by qarezma

what is the cost of a car of 2Litres in Oz? does it differ in cities?

Hi Qarezma,

2 litre cars are considered small here. Check out Used Cars - New Cars - Search New & Used Cars For Sale - carsales.com.au and you can see the prices of cars in various states since I'm not sure if it varies.

Regards,
Karen

[Worldwide Worker]

There is some brilliant information here. How applicable would the costs be for living in Sydney?

I have been made an offer for employment within Sydney and analysing the package it would give me A$7,800 per month after deduction for taxes & medicare levy. We are family of 2 with what I would call a moderate middle income living standard. Is this a livable wage? Or will it be a stretch to make the budget work?

I realise that Sydney is more expensive than other areas and hence the question. Also having scouted the web to try and get some indication of housing prices has been difficult to say the least. Any ideas on what would be the rental on a 3 bedroom house? I would have no problem commuting as nothing could be worse that the 1.5hr commute I have here in London.