1. Joseph
  2. Australian migration questions
  3. Wednesday, 17 April 2013
  4.  Subscribe via email
My family and I are moving to Australia soon and we have never been there before. We are moving to Sydney and although my company are paying my rental property for the first 2 months, is it possible to get a pre-approval on a 457 visa to buy property in Australia before we arrive?
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Hi Joseph, Thank you for your question. It is possible to arrange a pre approval for a 457 visa mortgage before you arrive dependant on your situation. You would need at least a 20% deposit and enough money to cover stamp duty and legal costs (normally approximately 4% of the purchase price) and work organised. It sounds as if you already have work. Is this a transfer for an existing company or starting brand new? Banks would look more favourably on a transfer from an existing company as people don't always settle in a new company structure. the banks credit department would assess the deal on it's strengths in terms of income and how long you have been with that employer or in that occupation. Although it is possible to organise the approval most people would not proceed until they have been here for a while as they want to look at all the areas and decide which is the best location for them to live in. If you have any more questions or would like more information please do not hesitate to contact myself. You can also complete the information on the below link and I csan calculate your borrowing capacity. http://www.cbmmortgages.com/temporary-visa hope this has helped
  1. http://www.cbmmortgages.com/temporary-visa
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