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Buying a house in Oz

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    #32
    catbear
    Closed Accounts Posts: 5,092 ✭✭✭catbear


    sponge_bob wrote: »
    Well that's why I am out here:confused:
    So you moved to Australia to be able to pay for a mortgage in Ireland and now you want to double up, where will go if you lose you're income in Australia?

    And just a word of warning about repaying back in Ireland, the Aussie Dollar is strong versus the Euro right now but before China pushed the button on its spending spree the aussie Dollar crashed to $2 per Euro. Even if you don't lose your Aussie income you got to factor in a volatile exchange rate.

    The aussie government will lower interest rates further (which will help repaying aussie debt) and depreciate their currency (which would be bad for your Irish debt.)

    If you're servicing loans on more than just your principle residence then you're no ordinary joe.


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    #33
    mel.b
    Registered Users Posts: 3,130 ✭✭✭mel.b


    sponge_bob wrote: »
    Thanks mel.b some interesting links there, do you know what % LMI is charged at or is it a case of shopping around like any other insurance.

    There are only two providers of LMI - Genworth and QBE (i think). Who you get depends on which bank you use. Here is a link to genworth's LMI calculator...http://www.genworth.com.au/homebuyer-centre/homebuyer-tools/lmi-premium-estimator/


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