FAQs

The amount that you can borrow depends on the type of temporary visa that you hold:
• 80% of the property value: Most temporary visa holders can apply for a mortgage if they are allowed to work in Australia for at least 12 months.
• 90% of the property value: Some visa holders may be eligible to borrow up to 90% of the property value if they have a strong income, stable employment and longer-term visa.
• 95% of the property value: If you’re married to or defacto with an Australian citizen or permanent resident, regardless of your visa.
Did you know that the services of a mortgage broker in Australia are usually free?
Please call us complete our free assessment form to have an obligation free discussion with one of our mortgage brokers that specialises in lending to temporary residents living in Australia.

The Australian government and the FIRB doesn’t restrict particular visa types from borrowing money but the Australian banks and other lenders may not approve loans for some temporary residents (TR).
Preferred visas
The list below includes visa types that Australian lenders tend to consider as “Australian citizens”. These visa holders may be entitled to borrow up to 95% of the property value:
• Interdependency Visa (subclass 310/110 and 826/814).
• Spouse / spousal / partner visa (subclass 309/100 and 820/801).
Accepted visas
The list below includes visa types that Australian lenders tend to consider as “non-residents” and will restrict the loan to 80% to 90% of the property value. If you’re married to an Australian Citizen or PR then you can borrow 95% of the property value:
• Temporary Business (Long Stay) – Standard Business Sponsorship (Subclass 457) and 482 Temporary Skill Shortage (TSS) visa loans available to 90% of the property value as a special exception to normal bank criteria. Conditions apply.
• Skilled Employer Sponsored Regional (Provisional) Visa (Subclass 494)
• Skilled Work Regional (Provisional) Visa – (Subclass 491)
• Temporary Work (Long Stay Activity) visa (Subclass 401).
• Temporary Work (International Relations) visa (Subclass 403).
• Investor Retirement visa (Subclass 405).
• Working Holiday Visa (Subclass 417).
• Business Owner (Provisional) Visa (Subclass 160).
• State or Territory Sponsored Business Owner (Provisional) Visa (Subclass 163).
• Senior Executive (Provisional) Visa (Subclass 161).
• State or Territory Sponsored Senior Executive (Provisional) Visa (Subclass 164).
• Investor (Provisional) Visa (Subclass 162).
• State or Territory Sponsored Investor (Provisional) Visa (Subclass 165).
• Skilled Regional (Provisional) visa (subclass 489).
• Business Visitors Visa (Subclass 456).
• Visiting Academics Visa (Subclass 419).
• Sport Visa (Subclass 421).
• Entertainment Visa (Subclass 420).
• Skilled Exchange Visa (Subclass 411).
• Film, Media, Actors and Support Staff, Photographers and Journalists Visa (Subclass 423).
• Emergency Visas (Subclasses 302 & 303).
• New Zealand Citizen’s Family Members Visa (Subclass 461).
• Religious Worker Visa (Subclass 428).
• Skilled – Regional Sponsored visa (S
ubclass 475).
• Special Program Visa (Subclass 416).
• Prospective Marriage visa (Subclass 300).
• Medical Treatment Visa.
• Medical Practitioner Visa (Subclass 422, loans available to 90% of the property value).
• Sponsored Family Visitors Visa (Subclass 679).
• Special Category Visa (Subclass 444).
• Contributory Temporary Parent Visa (Subclass 173).
• Contributory Temporary Aged Parent Visa (Subclass 884).
• Student Visa (Subclass 572, 573, 574, 575 & 576).
• Temporary Graduate Visa (Subclass 485).
• Student Guardian Visa (Subclass 580).
• Business Innovation and Investment (Provisional) visa (subclass 188).
• Holiday and Visiting Visas (Subclass 976).
• Short Validity Business ETA Visas (Subclass 977).
• Long Validity Business ETA Visas (Subclass 956).
• Bridging Visas (A, B, C, D & E).
If you’re a temporary resident, please call us on 1300 889 743 or fill in our free assessment form to find out how much you can borrow.

If you’re married to or in a relationship with an Australian citizen, New Zealand citizen or Australian permanent resident, the banks will see you as a lower risk than other visa holders.

As a result, some lenders will assess your mortgage application as if you were an Australian citizen. For more information, please see our spouse visa mortgage page.

The SIV 188 visa came into effect as a new stream within the Business Innovation and Investment (Provisional) (Subclass 188) and the Business Innovation and Investment (Permanent) (Subclass 888) visa on 24 November 2012.
Effectively, it allows high net worth (HNW) foreign investors to live in Australia for up to 4 years and 3 months, with the option to apply for the permanent 188 visa.
We have more negotiating power with certain lenders for borrowers on the SIV visa.
For example, most lenders will only consider income in Australian Dollars (AUD). Others will accept foreign currency but will require that the majority of your income be the same as your country of residence.
With the Significant Investor Visa, some lenders may be willing to waive these requirements so you can qualify for a mortgage in Australia and grow your property portfolio.
If you are on a SIV 188 visa, call us on 1300 889 743 or complete our online enquiry form to start buying real estate in Australia.

Most banks will allow student visa holders to borrow funds to purchase a property in Australia.
The Foreign Investment Review Board (FIRB) doesn’t restrict students from buying a home or investment property as long as they meet standard FIRB criteria.
However, your ability to get approval for a loan largely depends on whether or not you have a stable job and a solid income. If you’re working, most banks will lend you 80% of the property value.
If you’re not working, then your parents may be able to purchase the house for you. Please see our student visa mortgage page for more information.\

If you’re currently on a bridging visa and will receive your permanent resident (PR) visa, we recommend you wait.
Alternatively, if you can’t wait and you’re planning to buy with an Australian citizen or PR holder, you may want to consider purchasing in their name.
There are several benefits to waiting.
Qualify with more lenders
You’ll be eligible to borrow more at lower interest rates with a wider range of lenders.
The more lenders you qualify with, the better our negotiating power so you can thousands.
Avoid FIRB approval
Temporary residents and 457 visa holders are required to get Foreign Investment Review Board (FIRB) approval.
If you get your PR, or marry someone who has it, you can avoid the cost and hassle of this government approval process.
Avoid the foreigner stamp duty surcharge
Temporary residents and 457 visa holders planning to buy residential property in all states and territories, except for Northern Territory (NT) will have to pay a stamp duty surcharge.
The surcharge varies anywhere between 3% to 7% of the land value depending on the state and can add tens of thousands of dollars to your purchase
If you’re close to getting your PR anyway, you may want to wait so you can avoid the surcharge.
Of course, you can also avoid the surcharge if you buy in the name of an Australian citizen under a spousal visa arrangement.

A temporary resident married to either an Australian citizen or permanent resident can avoid the foreign stamp duty surcharge and approval from the FIRB board.
The same goes for temp residents that have been in a de facto relationship with a citizen or PR holder for at least 2 years, otherwise known as de facto.
How does it work?
Legally, you can have both names on the mortgage but only the Australian citizen on the property title.
What this means is, that for intents and purposes, the property is own solely by an Australian (who is exempt from the surcharge and review board approval).
Secondly, the benefit of keeping two names on the mortgage is that both incomes can be used when assessing your borrowing power meaning you have a better chance of being able to borrow the amount you need.
In saying that, lenders generally prefer that the Aussie citizen/PR holder is the main income earner.
Choosing the right lender is critical
Some banks will focus on your partner’s Australian citizenship or PR status, rather than your temporary work visa status.
What that means is that these lenders will see you as a lower risk with stronger ties to Australia and will more likely approve you to borrow up to 95% of the property value.
What will also work in your favour is if you’ve been in a long-term relationship, say five years. Having children together or you, as the temporary resident, having family or relatives already living in Australia will also work in your favour.Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies , tempor sit amet, ante. Donec eu libero sit amet quam egestas semper. Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies , tempor sit amet, ante. Donec eu libero sit amet quam egestas semper.

We’re mortgage brokers who specialise in helping people without Australian citizenship apply for loans in Australia.
If you’d like to buy a property in Australia or want to know more about how we can help, call us today.

A comparison rate is an interest rate figure designed to represent the total annual cost of the loan, including its annual interest rate and most ongoing and upfront fees and charges.

Under the law and on the G & C Finance – Mortgage Service website, all comparison rates for home loans in Australia are based on a $150,000 loan over 25 years.

The process for refinancing a home loan is similar in many ways to applying for any other home loan.

Borrowers still have the choice of which home loan to apply for, and you don’t necessarily have to stick with the same lender who gave you your original loan.

In fact, a number of lenders offer incentives to people who refinance from a different bank.

Bear in mind, though, that these incentives aren’t the only factor to consider, and that you may have to pay certain application or switching fees if you do choose to change lenders.

The decision of whether or not to fix your home loan is a personal one, and should be considered carefully in light of your financial needs.

For example, if you think variable interest rates will rise in the near future, getting a good deal on a fixed rate could be one way to lock in a rate you’re happy with for a few years.

On the other hand, ASIC’s Moneysmart notes that fixed rate home loans often have fewer features than variable ones, and locking in now could mean you miss out on some savings if variable rates fall during your fixed term.

If you’re unsure, taking out a split loan could be one option to consider, though some lenders may charge a fee for this.

The length of time it takes for a lender to approve or reject your home loan application may vary, depending on factors such as the particular lender you choose and your financial situation.

In some cases, obtaining home loan pre-approval or conditional approval beforehand may speed up the time it takes your chosen lender to assess your formal application.

Home loan pre-approval, also known as conditional approval, is an initial approval process where a bank provides a borrower with an estimate of how much they could borrow, based on information they have provided to the bank.

Pre-approval does not necessarily mean the bank will approve the borrower’s formal home loan application, but it can nonetheless give a borrower more confidence in working out how much they can realistically afford to spend on a property.

Lenders mortgage insurance is a type of insurance that a lender takes out to protect itself in case of default from the borrower, but which the borrower must pay for.

It usually applies to home loans with a high LVR (more than 80%), or in other words when the borrower has a deposit of less than 20% of the property’s value.

The loan-to-value ratio (LVR) of a home loan is the amount you are borrowing under it, as a proportion of the lender’s valuation of the property you’re buying.

For example, a bank may approve your loan for 80% of the property value – an LVR of 80% – in which case you would need to pay the remaining 20% as your deposit. Many lenders’ best mortgage rates are reserved for borrowers with a low LVR.

A credit rating or credit score is an assessment of the creditworthiness of an individual borrower, based on their borrowing and repayment history (as shown on their credit report).

Lenders consider your credit rating when deciding whether or not to give you a loan, how much to lend you, and what interest rate you will pay.

Equity is the difference between the value of your property and the outstanding balance of the loan that was used to fund it. For example, if an owner has purchased a house valued at $400,000 and has paid the loan down by $100,000, the owner has equity in the property of $100,000.

Equity can potentially be negative, if your property’s value falls below the balance of your mortgage.

Some property investors may use their positive equity in properties they already own to help them access additional investment home loans.

The First Home Owner Grant (FHOG) is a government grant given to first home buyers.

The First Home Guarantee (FHBG), formerly called the First Home Loan Deposit Scheme (FHLDS), is a government measure designed to help people enter the property market for the first time.

The scheme offers 35,000 places to homebuyers per year, allowing them to purchase an eligible home with a 5% deposit and no lender’s mortgage insurance. The loan must be sourced from a set list of lenders, among other criteria.

In Australia, you may be able to get approved for a loan of 100% of the purchase price of a home through some lenders if you can meet certain conditions, such as having a guarantor on the loan. This is usually determined on a case-by-case basis by the lender.

That said, it’s generally not all that common for lenders to offer home loans with absolutely no requirement for the borrower to have a deposit.

If someone “goes guarantor” on your loan, it means that they are promising (“guaranteeing”) that they will be liable for the loan if repayments are not made.

The guarantor must also be able to demonstrate their own capacity to repay your loan.

Negative gearing is when the income (such as rent) that an investor makes from an investment property is less than the interest and fees on the home loan and the maintenance costs for that property. Negative gearing is currently available as a tax deduction against that investor’s income.

A mortgage or home loan offset account is a savings account linked to your home loan to reduce the interest charged on the loan. The money (or credit) in your account is offset daily against your loan balance, which reduces the daily mortgage interest charges.

A home loan redraw facility is a feature that enables the borrower to withdraw funds they have already paid.

Usually, this is conditional based on if they are far enough ahead on their loan repayments. This is not available on all loans.

A mortgage broker is a type of financial professional who specialises in helping their clients to find a home loan. Their job is to gather information about the needs of their clients and to suggest lenders and products that match those needs. Once they have helped their client to select a home loan, a mortgage broker may also assist the home buyer with the application process.

A construction home loan is a type of home loan designed for people who are building a home or doing major renovations, as opposed to buying an established property. It has a different loan structure to home loans designed for people buying an existing home.

A land loan is a type of home loan that you can take out from a bank or other lender to purchase vacant land. Typically, this is done in order to build a house on the land in future, either as a home for you or as an investment property. It can also be the case that a buyer wishes to hold on to the land as an investment, to sell in future if the value increases. With a land loan, the block of land is used as security for the loan.

A bridging loan is a special type of short-term loan designed to cover the purchase price of a second property and give you time to sell your existing property, even if you already have a mortgage. It essentially creates a financial “bridge”, allowing homeowners to traverse the gap between buying and selling.