Mortgage interest rate in New South Wales, Australia

June 5438 +2023 10 Australia

The interest rate of self-occupied mortgage is 4.44%

The interest rate of investment mortgage loan is 4.66%.

Second, how to buy a house in Australia?

Australian real estate has won the favor of overseas buyers with its unique advantages such as low cost and rapid appreciation. Australian real estate transactions mainly include new houses, uncompleted residential flats and second-hand houses.

Due to Australian official restrictions, non-Australian citizens or permanent residents are not allowed to buy second-hand houses or second-hand commercial land (long-term visa holders can only buy second-hand self-occupied houses and need to sell their properties three months before leaving the country), so for overseas buyers, new houses or unfinished buildings become the first choice.

So, what do overseas people need to do to buy new houses (apartments) in Australia?

1, the selected attribute

After choosing a reliable real estate agent, buyers choose their favorite real estate according to factors such as room type, orientation and landscape outside the window, and pay a "small deposit" to the developer's trust account to apply for retaining the real estate. The deposit of Xiaoding is generally around 5,000 Australian dollars. Because there are many apartment types in Australia, if buyers tend to buy existing homes, it is better to see them in person.

2. Cooling-off period

Buyers can get a very humanized one-week cooling-off period after paying the "small order" and seriously think about whether they really decide to buy the property. If the buyer decides to give up the purchase after thinking, the developer needs to refund the small deposit unconditionally; If the buyer decides to continue the purchase, it will enter the third step of the purchase process and sign the contract. At the same time, the Australian government stipulates that both buyers and sellers have lawyers. At this time, the buyer needs to choose a lawyer to buy a house, and both buyers and sellers have to bear their own legal fees.

3. Overseas buyers' application for house purchase

Since the buyer is not an Australian citizen or permanent resident, the buyer needs to submit a purchase application to FIRB. Firb (ForeignInvestmentReviewBoard), the full name of which is Foreign Investment Review Board, is translated into Chinese as Foreign Investment Approval Committee, which is mainly responsible for approving foreign investors' investment projects in Australia. The application fee is as follows (2065438+updated in July 2008):

Source: FIRB

FIRB audits are generally accompanied by lawyers.

Step 4 sign a contract

After receiving the "small order", the developer will prepare the purchase contract and submit it to the developer's representative lawyer for review. The audited contract will be handed over to the buyer's representative lawyer, who will explain it for the buyer one by one. The buyer will sign the contract after fully understanding the terms of the contract and having no objection. If the buyer is overseas, the original contract signed by the buyer should be sent back to Australia (the buyer can keep a copy of the contract), and the developer should sign the contract and return it to the customer.

Step 5 pay a down payment

After signing the contract, the buyer needs to pay 10% of the total purchase price as the down payment within the time limit stipulated in the contract (usually two weeks), and the down payment will be transferred to the bank trust account of the developer's representative lawyer, which will be supervised by the Australian government. The money will be safely stored in the account, earning interest, and it will not really fall into the pocket of the developer until the property is delivered successfully. The previous "small" money will be returned to the buyer or the down payment will be deducted.

6. Pay stamp duty

Stamp duty rates vary from state to state, and the specific amount is accounted for by lawyers.

According to NSW law, for overseas buyers, the property stamp duty needs to be paid within three months after the exchange of purchase contracts. If the delivery date is within three months, stamp duty should be paid before the delivery date. The following is a guide to stamp duty in New South Wales provided by RayWhite:

Compared with local buyers, overseas buyers have different standards for the specific amount of stamp duty when buying a house in Australia. For example, in New South Wales, starting from July 1 and 20 16, the stamp duty paid by overseas buyers will increase from 3% to 7%. For this reason, the stamp duty paid by overseas buyers when buying a house in Victoria can reach up to 12.5%(75.5). Regarding the specific payment standards of each state, you can ask juwai.com a separate question for details.

7. Building construction

If the buyer buys an unfinished building, the buyer does not need to pay any fees during the construction of the developer.

Step 8 apply for a loan

Three months before the delivery of the house, the buyer's lawyer will inform the buyer that the house is about to be completed. If a loan is needed, the buyer needs to contact the loan broker, prepare the loan materials and apply for a loan. If the buyer buys an existing home, it is recommended to consult a lawyer and prepare a loan in advance.

9. House inspection before delivery

After the house construction is completed, the developer will invite buyers or representatives of uncompleted residential flats to inspect the house. In the process of this house inspection, buyers need to determine whether the house construction meets the construction requirements stipulated in the contract and safeguard their rights and interests.

10, delivery

Before the house is delivered, the buyer's lawyer will inform the buyer of the specific delivery date and issue a notice of payment. On the day of delivery, the buyer gets the key to the new house and pays the full balance. The final payment will be transferred to the trust account of the developer's representative lawyer and then transferred to the developer to complete the delivery. If the buyer has a loan, then the buyer will start to repay the loan on the day he gets the key to the new house.

For more questions about Australian real estate prices, please consult juwai.com.

3. Is the University of New South Wales easy to apply for?

Will the University of New South Wales apply as follows:

The University of New South Wales (UNSW) is one of eight famous universities in Australia. Many students know that UNSW is the top university in the world, but the related matters about application are not very clear. Let's see how to apply first

First, education.

Undergraduate course: Students from China who want to apply for undergraduate courses in UNSW need to complete a one-year undergraduate course in an undergraduate school in China or obtain a junior college diploma. Most undergraduate majors in UNSW can accept students to apply for admission through the results of the college entrance examination, requiring students to obtain more than 80% of the local college entrance examination results, which is almost a new score. If you want to apply for other majors after graduating from high school, you need to complete the preparatory course before applying.

Master: If you want to study for a master's degree in UNSW, you need to get a degree in a related major in China.

Second, language.

Undergraduate: In English, UNSW undergraduate requires students to have a total IELTS score higher than 6.5, and all IELTS items should be higher than 6.0. Or students who have passed the TOEFL should have a TOEFL total score of 90, a score of no less than 23 in the writing part and no less than 22 in other parts. The language requirement of the preparatory course requires students to have an IELTS score of 5.5.

Master: The language requirements for studying for a master's degree at UNSW are the same as those for an undergraduate course. Students can also apply for a master's degree in UNSW through the PTE exam. The requirement for students' PTE is that the total score is not less than 64 points and the single subject score is not less than 54 points.

Third, share equally.

Undergraduate course: to study in UNSW, students need an average score of 80 in high school, and 75%-80% in freshmen who complete undergraduate course.

Master's degree: Students in domestic undergraduate colleges need to apply for a master's degree in UNSW. If the domestic undergraduate school is 2 1 1, then they need to get an average score of 75 points in the undergraduate study stage, and students who are not in 2 1 1 need to get 85 points. If you apply for a master's degree, you need to get 1 year and a half.