Banks target cashed-up expats...

rogue_investor said:

Dhukka, I think you'll find that is for property in Japan but let us know how you get on.

Some of these financial advisers are working as mortgage brokers on local finance as they have the know how that many expats don't. Shinsei was one of the first to offer non citizens mortgages but all the big banks do it now. You just need to have the Japanese skills to get through the paper work.

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No it was definitely for Australian property.

dhukka said:

A 5% differential can definitely add up over the life of a 30 year mortgage. Some back of the envelope calculations:

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And that assumes you want to pay it off!

400k AUD at 3% = $1k AUD a month

400k AUD at 8% = $2.6k AUD a month

...or put differently, the same $2.6k a month repayment can service over a million dollars in debt.

Hi all,

I am sitting here in a cafe near London Bridge - have moved to London on Boxing Day and beginning the job hunt today - very discouraging with agencies promising the world but delivering very little.

Anyway, its good to drop in 'home' here, and to see this thread. I still have a property back in Aus... how can I refinance at a better rate from here???

Hope everyone had a good New Year.

Cheers
Brad

BradK said:

I am sitting here in a cafe near London Bridge - have moved to London on Boxing Day and beginning the job hunt today - very discouraging with agencies promising the world but delivering very little.

Anyway, its good to drop in 'home' here, and to see this thread. I still have a property back in Aus... how can I refinance at a better rate from here???

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Hi Brad,

I have no idea HOW you actually do it. Haven't yet done the homework on it myself, but knowing that it could be done has planted a seed.

I wouldn't worry too much about the agencies promising the world and not delivering etc. You just have to keep making those phone calls and turning up to those interviews and sending those emails. And in the meantime, keep yourself occupied! Shouldn't be too difficult in a new country, everything ought to be exciting

ASX.G

PS. The sun just shone through my window for all of about 30 seconds...now thats exciting!