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Greetings from UK. Sad Times.
Topic Started: 16 Oct 2014, 05:52 PM (1,269 Views)
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Hi all, I'm brand new to this forum and need some pick-me-up advice / encouragement hope you can help.

I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.

I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.

My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.

We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.

My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.

Proof was in black and white she could make payments.

About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.

Feel lost :( :( No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....


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Hi I would say that you do not appear to have Australian income to support the loan here.
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newjez
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You could talk with peter Frazer he is a mortgage broker.

Could mortgage o/s assets and buy cash?

Your business plan is a bit flawed, as most oz holiday let's are in the summer.

Why not just buy a place in spain or the South of France?
Edited by newjez, 16 Oct 2014, 11:02 PM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Foxy
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Zero is coming...

leejmitch
16 Oct 2014, 05:52 PM
Hi all, I'm brand new to this forum and need some pick-me-up advice / encouragement hope you can help.

I'm from the UK, I'm 25 and have a disability called SMA Type 2 a muscle weakness condition preventing me to walk.

I came to Auz/Melbourne/Mornington with my Fiancee and my Mum and Dad last year Jan to March to visit some distant family on my Mums side. Well I fell in love with the place. So did my Fiancee and parents. The UK winter is cruel due to my disability and the heat was great, so we all thought lets make this more permanent.

My Fiancee along with my parents decided to try and find a new house that we could invest in. Basically me and my fiancee would do summer in Auz for then rent out property when we come back to the UK for summer.

We found a new dwelling, perfect, central in Mornington, 3 bedrooms 600,000 dollars. Got a solicitor, contract accepted by vendor, just had to wait for Bank of Melbourne loan approval.

My Fiancee is French and owns an apartment in France but lives with me in UK. She earns a good salary and my parents were going to give her 20percent cash and were guarantors.

Proof was in black and white she could make payments.

About an hour ago, the solicitor phoned to say Bank of Melbourne refused loan for my fiancee.

Feel lost :( :( No hope don't know what to do feel like this was our only chance of a great investment. Why has this happened.....


Check out Margaret River, you could probably get a place for $450,000.

Peter
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Ex BP Golly
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People swap housing commission places all the time.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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newjez
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If you don't need to be near a major hospital, you may find cheaper country properties. I'm not from the eastern states, but some on here could offer suggestions. You could look at Mandurah, bunbury areas in west Australia.

Or you could just rent and invest elsewhere.
Edited by newjez, 18 Oct 2014, 09:04 AM.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Chris
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Fellow Bears,

Please do not dignify such rubbish posts with a response. this is clearly a setup and to take it seriously just gives the smart arse who posted it satisfaction.
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Bardon
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If you can find a way to buy it cash, then it might be easier to arrange for finance after the purchase.
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Blondie girl
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@Chris
What if this a legit posting?

Then you would be considered a piece of despicable sewerage.

Another to put on ignore..
Edited by Blondie girl, 18 Oct 2014, 02:05 PM.
Newjerk? can you try harder than dig up another person's blog. My first promo was with Billabong and my name in English is modified with a T, am Perth born but also lived in Sydney to make my $$
It's Absolutely Fabulous if it includes brilliant locations, & high calibre tenants..what more does one want? Understand the power of the two "P"" or be financially challenged
Even better when there is family who are property mad and one is born in some entitlements.....Understand that beautiful women are the exhibitionists we crave attention, whilst hot blooded men are the voyeurs ... A stunning woman can command and takes pleasure in being noticed. Seems not too many understand what it means to hold and own props and get threatened by those who do.
Banks are considered to be law abiding and & rather boring places yeah not true . A bank balance sheet will show capital is dwarfed by their liabilities this means when a portions of loans is falling its problems for the bank.
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zaph
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Blondie girl
18 Oct 2014, 02:04 PM
Another to put on ignore..
If only...
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