All Topics / Finance / Loan for nonresidents

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  • Profile photo of sasharifsasharif
    Participant
    @sasharif
    Join Date: 2005
    Post Count: 48

    Hi, I have a question about bank loan for non-residents. I am inquiring for a friend who lives overseas and not a citizen or permanent resident of Australia. His wife and children lives in Australia with study permits and are students. He intends to buy a home/ unit within the price range of $250 – $300k. He is able to pay deposit of about 20%. Is there any way he can secure a bank loan? Your suggestions will be appreciated. Sharif

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Sharif

    80% for a Non Resident is available but he will need evidence of income to support the serviceability.

    Richard Taylor | Australia's leading private lender

    Profile photo of sasharifsasharif
    Participant
    @sasharif
    Join Date: 2005
    Post Count: 48
    Qlds007 wrote:
    Hi Sharif

    80% for a Non Resident is available but he will need evidence of income to support the serviceability.

    Thanks Richard.  I will ask my friend to get in touch with you. Sharif

    Profile photo of mj88mj88
    Member
    @mj88
    Join Date: 2008
    Post Count: 14

    I have  a friend who is in the process of permanent resident . He just finished degree in Aus , have a permanent job for 5 months. he wants to purchase an IP now, , is he qualified for an 80% loan. ( his wages is 50K pa)
    thanks for your advice

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Subject to the normal income / credit qualifications he would qualify with some lenders.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

Viewing 5 posts - 1 through 5 (of 5 total)

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