u/CauliflowerKey2572

Chapel Street has a bit of a reputation for being a shit hole of late but thoughts on property in the South Yarra end? Particularly ones by the river, and before Toorak Rd.

My mate is buying in the region and I've heard horror stories and would like to warn him, but not if I am wrong and the horror stories are more in relation to bits of Chapel St further down the road towards Prahran and Windsor. Basically, I don't want to rain on his parade if I don't have to.

As the title suggests, I made a mistake 9 years ago and got a DUI and Dangerous Driving conviction in New Zealand. I didn't commit any offence before and haven't since the conviction, and it is the only mark on my record. I declared this in my PR application, which was granted in 2021.

5 years later, my RRV is due to expire in a few months. I logged onto IMMI to extend and realised that I have to re-declare my past convictions and so I did - this prompted a requirement to provide character references and I am in the midst of doing this now (takes a few days to gather) and then once I submit I worry it'll then take a long time to approve (or even be approved at all).

If it's just a long wait then this won't be a big issue, but:

1. my parents are in their 80's and god forbid something happens to them, I'll be stuck here until this is sorted or risk going back and not being allowed back in
2. I am actually looking to buy a property and am worried that my lender might need an extended RRV before granting (they haven't asked for this just yet).

So am looking for someone who might have been in the same boat who can maybe give me some guidance as to what I can expect to happen next,

Thanks.

I am a first home buyer in Victoria but have been informed by my broker that I won't be able to access the 5% deposit scheme because I'll have too much in savings left over post purchase (> 6 months of living expenses). I understand that this is a requirement by the banks and not necessarily the Victorian government.

I am not sure how hard I should push my broker but I'd like to make the argument that I actually won't have too much in savings left over once I actually purchase a car and furnish the property I intend to purchase. See below:

- if I am granted access to the 5% deposit scheme, I'll have ~$130k in savings left over after paying the deposit + other fees (stamp duty and other buying costs)

BUT,

- I don't currently have a car but will need a car if I purchase this property as I will be moving further away from work and will now need to drive. I am intending on purchasing something around $50k

- I also expect to spend around $30k on furnishings considering I currently rent and the place I purchase will be completely unfurnished

Deducting this I'd be left with $50k, which is roughly 6 months of living expense including the new cost of my mortgage. Should I push my broker to try or would it be a pointless exercise?