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Question: Will banks provide 100% mortgage to buy houses in melbourne?

(Posted by: Sweety on 2010-09-07 11:08:18)

We are moving to Melbourne on PR visa. Will banks finance 100 % mortgage to buy houses in Melbourne. Pls advise upto how many years we can take to repay the loan and also approx interest rates.

Answers:

Posted by: scat on 2010-09-09, 01:29:27

You will find that until you have lived in Australia for a number of years you will not be eligible for any loans for houses on a PR visa. Even citizens have to show 1) several years employement IN AUSTRALIA and provide at least 10% deposit nowadays to get a loan.

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