I am an Australian resident that owns investment properties in Australia. I am currently a non-resident for tax reasons as I am currently working under residency in the Middle East. I want to buy another property in Australia. Will banks recognise my employment contract. Am I able to purchase property as a non-resident. I am planning on coming back to Australia next year. However I plan to take a few months off there for getting a loan with no job when I get back will be near on impossible. Tricky situation would appreciate any in-site.
Yes many banks, most probably, can lend to Aussie's working overseas. I have found St George to be one of the best for this, and think they can lend up to 95% from memory – maybe even 100% if you own other property.
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
Yes both SGB and ANZ will go to 95% for expats and the full range of product suite is available.
Richard Taylor | Australia's leading private lender
sorry to hijack the thread – but quick question:
Is there ANY lender outhere irrespective of the % rate, that will lend more than 80% for a non-permanent resident working in Australia. They will be eligble October this year to apply for permenant residency, but in meant time they are on working-visa.
Anyone?
Not that i am aware of off the top of my head.
Richard Taylor | Australia's leading private lender
I agree with Richard – no lenders or mortgage insurers for LVR > 80% to non-perm resident.
Cheers
Stuart
I think non-resident loans can only be full doc.
Please correct me if i am wrong.
No there are a couple of lenders that offer lodoc / nodoc non resident loans.
Richard Taylor | Australia's leading private lender
Ok thats for the correction.
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