Non Resident Home Loan policy is a minefield with every bank having their own individual lending policy and requirements. This difference in lending criteria can result in one bank approving your loan despite your residency status while others will decline the application or require a larger deposit. For example, some lenders will;
- Only lend to temporary residents who are on a particular type of working or spouse visa,
- Not lend to temporary residents or Australian Expats at all,
- Only lend to temporary residents if purchasing with an Australian citizen or permanent resident,
- Require expats to have a deposit of up to 30%
- Only lend to Expats if they earn a particular currency.
This is where MAP Mortgage Brokers can help. MAP understands the complex non resident lending policies and requirements of all the Australian banks and non bank lenders to ensure that your home loan is approved the first time at the best interest rate available.
Don't risk a decline on your credit file. We do not charge you for our services so give us a call or enquire online for a no obligation assessment.
