Hi there,
I have an interesting situation – I’m an Australia resident looking to invest in Australia.
I have good financials, pay myself around 120k AUD, run a profitable business in Japan, and have around AUD 150k to invest as seed money.
I’ve been around to a bunch of banks, and the common story seems to be that for non-residents, the best LVR I can get is 80% LVR.
SunCorp said they used to do 90%, but they just recently changed their rules and now this is no longer available.
My goal is to try to buy 2-3 properties, so does anyone have any ideas for getting a higher LVR as a non-resident for Tax purposes ?
Thanks very much
Jay
I spend a lot of time in Japan too, Osaka – where are you?
Have you considered using an Australian bank in Japan and borrowing in Yen? you should be able to get around 70% LVR at around 2.5 to 3% pa. NAB used to do this, but I haven't checked for a while.
St George also used to give good LVRs to aussies living os. up to 95% in the past, not sure now though.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Really? What do you do there?
I live in Tokyo but travel to Osaka sometimes.
I’ve thought about that, but I’d just like to get an asset in Australia with an AUD loan to remove any forex exposure. Once I’ve built up a small portfolio, I’ll certainly think about getting a NAB loan.
St George says maximum 80%, I spoke to them and 4 other banks. The highest has been 80%, the lowest has actually been NAB in Australia – 70% LVR.
Any other thoughts/options ?
Cheers,
You must be logged in to reply to this topic. If you don't have an account, you can register here.
