This loan is available to Australian citizens or permanent residents working overseas or citizens of foreign countries temporarily living and working in Australia under a visa arrangement.
  • Non-resident Australian citizens living overseas (expats) can apply for an Australian mortgage to 80% LVR.
  • New Zealand citizens living and working in Australia can borrow up to 95% LVR.
  • If you are a foreign investor you will need approval from the FIRB for a purchase to 80% LVR.
  • If you are on a temporary visa such as a spouse visa, 457 work visa or student visa you can purchase to 95% LVR – * You will need approval from the FIRB.

* Note: you do not need FIRB approval if you are buying the property with an Australian citizen as ‘joint tenants.

  1. You can only buy one established dwelling and it must be to live in, however you will be required to sell it once you do not live their anymore.
  2. You can buy an investment property, however it must be a new property or vacant land to build a new property.

Some common types of non resident loans include:

  • Recent Migrants – Recent Migrants with Residency Status will only need a 5% deposit plus costs if they hold permanent residency. This will allow them to borrow up to 95% of property value. For LVR‚Äôs above 90% applicant must have 5% Genuine Savings and a minimum of 6 months Employment.
  • Temporary Residents on Work Visas – As a general rule temporary residents on 475, 457, 475, 485, 487 and 495 work visas can borrow up to 80% of property value on Australian Property with FIRB Approval. The exeption to this rule is Professionals such as Doctors of Medicine, Dentists, Vets, Chiropractors, Optometrists, Surgeons, Physiotherapists, Radiologists, Osteopaths, Psychiatrists, Radiographers and Pharmacists may be eligible for a loan up to 95% LVR if they have a saved deposit and have been working in Australia for 12 months or more.
  • Student Visas – You can be approved for a student home loan up to 80% LVR whilst on a student visa with one year in current job as long as income is sufficient to afford repayments. Visa Class and Subclasses include 572,573,574,880,881 and 882. If you do not have sufficient income to service the loan it may be possible for you to get your parents to buy a new investment property in Australia, in their names and rent it out to you (see Foriegn Investors below).
  • Foreign Investors living out of Australia – As a general rule Foreign Investors can borrow up to 80% of property value on Australian Property with FIRB Approval as long as you can provide evidence of your income.
  • Bridging Visa – As a general rule borrowers on Bridging Visas can borrow up to 80% of property value on Australian Property with FIRB Approval as long as you can provide evidence of your income.
  • Business Visas – As a general rule borrowers on Business Visas can borrow up to 80% of property value on Australian Property with FIRB Approval as long as you can provide evidence of your income.

What is (FIRB) Foreign Investment Review Board approval?

The Foreign Investment Review Board (FIRB) is a board set up basically to examine proposals by foreign citizens to purchase property in Australia. If you are a Temporary Resident looking to move into the property you are buying, then FIRB approval is generally granted. Please visit the  FIRB website for full details and to apply online.

APPLY NOW

Online Application Form

Fill out our online application form now to find out how we can help
APPLY NOW