All Topics / Finance / Lending Criteria for Non Aus Citizen?

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  • Profile photo of RavtownRavtown
    Member
    @ravtown
    Join Date: 2004
    Post Count: 48
    October 9, 2006 - 8:19 am

    Hi,

    If you are working in Australia on a sponsored VISA for a fixed time period and wanted to buy a house here, what criteria would you have to comply with to get finance?

    regards

    Rav

    Profile photo of MortgagemanMortgageman
    Participant
    @mortgageman
    Join Date: 2004
    Post Count: 164
    October 10, 2006 - 2:04 am

    Hi Rav,

    If you are not a citizen or permanent resident you will need to obtain Foreign Investment Review Board approval. Go to http://www.firb.gov.au for details of what this involves. In terms of borrowing, if you can justify your income, you could get a regular loan at 80%, or a if you need a low doc, you could get one at 60%.

    Kind Regards,

    Cameron Perry
    Director
    Perry Financial Strategies
    Level 13, 30 Collins St
    Melbourne VIC 3000
    Ph (03) 9662 1999
    Fax (03) 9662 2044

    Profile photo of RavtownRavtown
    Member
    @ravtown
    Join Date: 2004
    Post Count: 48
    October 11, 2006 - 7:42 am

    Thanks Cameron,

    I will follow that linlk up and see where I stand

    cheers

    Rav

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