All Topics / Help Needed! / Non resident mortgage, does having a certain type of visa help?

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  • Profile photo of jmnes12jmnes12
    Participant
    @jmnes12
    Join Date: 2015
    Post Count: 20
    January 7, 2017 - 5:03 pm

    Happy New year everyone!

    I have a question for the mortgage brokers of the forum. Being a non resident Canadian, married to a non working Australian means that the max I can get for a mortgage is 60% LVR from my bank. I was wondering, if I had a 309 spousal visa (which I don’t have at the moment but could apply for) would it help me with the banks? Looking to buy my PPR and 60% LVR is just not cutting it in NSW!

    Thanks in advance for any advice/help.

    Profile photo of jmnes12jmnes12
    Participant
    @jmnes12
    Join Date: 2015
    Post Count: 20
    January 7, 2017 - 5:03 pm

    I should also state I don’t live in Aus, but in Tokyo, Japan.

    Profile photo of TomTom
    Participant
    @thebeardedbroker
    Join Date: 2016
    Post Count: 10
    January 12, 2017 - 8:41 pm

    Does your partner live in Japan as well? Provided you’re both on the application there are a number of lenders who will consider this deal on the strength of your partner’s citizenship.

    Lending policy around overseas borrowing tightened up significantly late last year but I know of a couple of lenders that will still go to high LVRs for overseas citizens. The next challenge is income as they will generally shade it to 80% of your foreign income.

    • This reply was modified 7 years, 9 months ago by Profile photo of Tom Tom.

    Tom | Voyage Wealth
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    The Bearded Broker for Voyage Wealth - all things finance

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