Questions - returning to Australia

Hi all, a few questions - we are Australian citizens returning to Australia after 5 years abroad. We will likely take out a car loan when we return. Other than that, a mortgage on investment property in NSW. No credit card or any other debt.

Question: we would like to refinance the mortgage with a bank that provides better interest rate than what we are on currently. Will we get approved if I've only been working in the country for 1-2 months? Is it better to wait 6-12months before applying?

Question: similar to the above, if we wanted to purchase a ppor, would we be approved only 1-2 months after returning to Australia or should we wait 6-12 months?

Cheers

 

Speak to a broker, depending on the circumstances no need to wait.

 

It's really a function of how long you're in your employment, rather than how long you're in the country.

You're going to need at least one payslip in Australia, but the options are limited and probably not ideal.

If you can demonstrate continuous employment in the same field and have two payslips your options open up quite a bit. I'd suggest getting an employment letter from your overseas employer before you leave, it could make all the difference.

 

Thanks - in terms of how long in employment, is there a minimum length we should be going for or is it simply the longer the better?

 

One payslip

 

There are a couple of lenders that will do this off one Payslip. Both are perfectly fine lenders - maybe not the lowest variable rate but certainly not horrendous.

 

Hi @Jaydub welcome to the forum.

Re purchasing your PPOR when you back to AU, are you really considering buying only 1 or 2 month after you are back? Sounds a bit rushed.