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  • Profile photo of chelseachelsea
    Participant
    @chelsea
    Join Date: 2003
    Post Count: 2
    July 21, 2003 - 4:31 am

    Thanks your help this is good advice.
    The deposit etc is not a big issue as I do have some funds I can invest but finding the right property and right lender etc is more of an issue.
    Thanks again your response.

    Ed

    Profile photo of chelseachelsea
    Participant
    @chelsea
    Join Date: 2003
    Post Count: 2
    July 21, 2003 - 4:29 am

    quote:

    Non resident lending is tricky. You need to have a 20% deposit plus costs to purchase so on a $AUS 250,000 property you would need $50,000 plus $10,000 in costs to buy.

    If your income is derived from a country not on the banks acceptable list then you will need to rely completely on rental income unless you buy when you arrive in Australia.

    The banks with the best non resident lending policy are St George Bank (www.stgeorge.com.au) and HSBC (not sure of the website details).

    I would suggest you send an email to them or call them and ask what requirements they would apply in your circumstance.

    Hope this helps

    Davo70

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