Home loan for foreign investor

Shawn

Depends on currency. NR loans have changed significantly and personally I let my chinese speaking staff deal with these, fact of the matter is the banks have finally decided to stop allowing deals to come in with falsified payslips from china. They turned off the tap. As a result, many chinese investors have now been left at settlement with no funder or private loans or non bank lenders with higher rates. NAB was the final major to cut it and not accept foreign income.

Now NR investors are left to decide to forfeit the deposit or pay a higher rate to settle, the max LVR from a lender will be 60% however this will be costly. We are still getting 60% at a reasonable rate, but NR investors are usually not understanding the state of current lending and left paying settlement penalties as they decide who are offering them money. Many are forfeiting the deposit and others are taking time to gather $$$ to cover the lower LVR. It can be funny and we do have a chuckle reading my wechats with a simple translation of ‘TAKE IT OR LEAVE IT’ maybe with a expletive.

In summary max LVR is 60% and can get to 70% with private lenders but you need a company officer in AUS which can be restrictive…

Cheers Ivan