Sydney Suburb Home for a UK Family on Permanent Residency
AUD 850,000 · 30 years · 6.15% variable. A UK family who had emigrated to Sydney on a permanent residency visa needed a home loan.
The Client
UK Expats - Primary Residence
The Challenge
A UK family who had emigrated to Sydney on a permanent residency visa needed a home loan. They had been in Australia for eighteen months with Australian employment but still had UK financial commitments, and their short Australian credit file made some lenders cautious.
Our Solution
Doulton placed the mortgage with an Australian lender experienced in UK expat borrowers. The eighteen months of Australian employment history was sufficient. UK commitments were reviewed and the family's sterling savings used as part of the deposit. Lender's Mortgage Insurance (LMI) was avoided by structuring slightly below 80% LTV.
The Outcome
Family home purchased in a north shore suburb. Australian mortgage established. UK financial commitments wound down over the following year as the family settled permanently. Key highlights: 18 months Australian employment accepted; LMI avoided by careful LTV structuring; UK commitments reviewed and managed within application.