Loan for nonresidents

Viewing 5 posts - 1 through 5 (of 5 total)

sasharif
Participant
@sasharif
Join Date: 2005
Post Count: 48
August 24, 2010 - 5:07 am
Hi, I have a question about bank loan for non-residents. I am inquiring for a friend who lives overseas and not a citizen or permanent resident of Australia. His wife and children lives in Australia with study permits and are students. He intends to buy a home/ unit within the price range of $250 – $300k. He is able to pay deposit of about 20%. Is there any way he can secure a bank loan? Your suggestions will be appreciated. Sharif
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
August 24, 2010 - 6:40 am
Hi Sharif
80% for a Non Resident is available but he will need evidence of income to support the serviceability.
Richard Taylor | Australia's leading private lender
sasharif
Participant
@sasharif
Join Date: 2005
Post Count: 48
August 24, 2010 - 8:53 am
Qlds007 wrote:
Hi Sharif
80% for a Non Resident is available but he will need evidence of income to support the serviceability.
Thanks Richard. I will ask my friend to get in touch with you. Sharif
mj88
Member
@mj88
Join Date: 2008
Post Count: 14
December 7, 2011 - 11:29 pm
I have a friend who is in the process of permanent resident . He just finished degree in Aus , have a permanent job for 5 months. he wants to purchase an IP now, , is he qualified for an 80% loan. ( his wages is 50K pa)
thanks for your advice
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
December 8, 2011 - 12:35 am
Subject to the normal income / credit qualifications he would qualify with some lenders.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender