How to get bank finance for non-residents

Viewing 4 posts - 1 through 4 (of 4 total)

steven
Participant
@stevenleong
Join Date: 2017
Post Count: 1
February 20, 2017 - 3:43 pm
Hi I am new to property investing in Australia. From the news update, i know there are strict restrictions on lending by the banks for residential houses for non residents.
1. Would it be better to look at commercial or residential listings in this instance?
2. Are there any good banks or mortgage brokers that can help me get finance for non-residents?
many thanks
Steven
Nigel Kibel
Participant
@nigel-kibel
Join Date: 2005
Post Count: 1,425
February 21, 2017 - 7:26 am
HI Steven
The banks in Australia are being difficult and in my view short sited. What I suggest is talk to an investment mortgage broker who can assist you. I know a couple of very good brokers who specialise in high level finance. message me and happy to pass on the details.
Nigel Kibel | Property Know How
http://propertyknowhow.com.au
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Ethan Timor
Participant
@ethantimor
Join Date: 2016
Post Count: 282
February 26, 2017 - 5:36 pm
steven wrote:
Hi I am new to property investing in Australia. From the news update, i know there are strict restrictions on lending by the banks for residential houses for non residents.
1. Would it be better to look at commercial or residential listings in this instance?2. Are there any good banks or mortgage brokers that can help me get finance for non-residents?
many thanksSteven
1. Commercial may be easier, yes.
2. Smaller lenders seem to be filling the gap the major banks have created. Having a great broker on your team is always a + 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
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Active Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
March 2, 2017 - 1:48 pm
Commercial has definitely less restrictions for non-residents than residential lending – and can allow you to access mainstream commercial products in comparison to residential lending where you’re having to use niche lender/products.
If you have sufficient capital for a deposit of 30-40%, you will get more cost effective and longer term facilities within the commercial lending space than resi at this time.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide