95% LVR Home Loans for holders of Temporary Partner Visa Subclass 309 to buy a home in Australia

'Australia's Experts in Temporary and Non-Resident Home Loans'

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Home Loan on Subclass 309 Partner Visa

If you are reading this page you may have already discovered that most banks will require a 20% deposit for a home loan where one borrower is on a temporary partner visa subclass 309. Alternatively, you may have found that the banks will not lend at all given your non-resident status.

The reason for this policy is simply that most banks and non-banks do not understand the migration regulations and what each visa subclass means in terms of ability to continue to reside and work in Australia, and therefore the ability to continue making mortgage repayments.

And, rather than invest time and money learning all the different visa rules and subclasses, and keeping updated with the constant regulatory changes, most banks and non-banks find it easier to simply exclude all migrants or require larger deposits.

MAP on the other-hand have invested considerable time and and effort (including completing subjects in the Graduate Certificate in Australian Migration Law), to learn and keep up to date with the ever changing migration regulations. As such, we are one of a very small number of broker groups in Australia that are able to offer home loans to 95% LVR for foreign citizens in Australia on a partner visa subclass 309.

If you have been declined or have been told you do not qualify, please read the information on this page and then contact us for assistance.

How Much Deposit do I Need on a 309 Partner Visa?

95% of the Purchase Price:
Holders of a provisional subclass 309 partner visa can arrange a home loan and will only require a minimum 5% deposit plus costs providing they buy the property jointly with their Australian citizen partner/fiancé/spouse. The borrowers will need to demonstrate;

Clean credit history,
Stable employment history,
Positive asset position (ie, assets are worth more than liabilities), and
Sufficient income to afford existing expenses and the new mortgage

80% of the Purchase Price:
With a 20% deposit plus costs like stamp duty and solicitor fees, holders of provisional subclass 309 partner visas can purchase property in their own name alone without their Australian citizen partner and arrange mortgage finance. This is of course not a very common scenario however it does arise in situations where the Australian partner has a credit issue that falls outside the banks guidelines.

Here is a quick example outlining the deposit required for a NSW purchase for $500,000 at the different LVR levels. It may be that you do not need a 95% lend but a 90% or 85% lend would be more comfortable than requiring the full 20% deposit.

	95% LVR	90% LVR	85% LVR
Deposit	$25,000	$50,000	$75,000
Stamp Duty	$18,288	$18,288	$18,288
Solicitors/Misc	$2,000	$2,000	$2,000
Total Required	$45,288	$70,288	$95,288
Less FHOG	-$7,000	-$7,000	-$7,000
Deposit you need	$38,288	$63,288	$88,288

Do I Require FIRB Approval on a 461 Visa?

Foreign Investment Review Board Approval (FIRB) will generally not be required by migrants on subclass 309 providing they are purchasing with their Australian partner. More information on FIRB Approval for Temporary Residents.

Can I get a Home Loan on a Subclass 309 Visa?

It is true that migrants on a 309 partner visa can be approved for home loan finance to buy Australian property. It is a complicated area though with no one bank having the same lending policy around the type of visa or deposits required.

The key to being approved is to use a specialist mortgage broker who knows Migrant Lending Policy inside and out to ensure your Home Loan is approved the first time, at the best deal available to you.

MAP Mortgage Brokers are the Migrant Home Loan Specialists and we will guide you through step by step. Contact MAP today to see if we can help you.

Accreditations

The Mortgage & Finance Association of Australia (MFAA) Approved by the Australian Securities and Investments Commission (ASIC), the Credit Ombudsman Service Limited (COSL) is the external dispute resolution scheme for the financial services industry. AFG is now one of the largest providers of mortgage broking services in the country.

What Our Customers Say

Carrie D (Melbourne)

Very efficient, personable, and true to your word. You gave great service and were able to find a solution for us when we thought there wasnt one. Thanks Craig you were great! Special mention for following up whilst on your honeymoon! It would have been great to actually meet you - but as you are based in QLD not possible. I cant fault the service or the experience! I have passed your details onto a friend of mine so she may be in contact later :)

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B. Shepherd (Wellington)

Well here we are Over Seas and Self employed with no hope of securing finance (thats what everyone else told us). How wrong you proved them Craig ! Thankyou so very much ! Your updates and communication throughout the process were A1. Others can learn alot from you in regard to providing a professional service with outstanding customer service. Once again, a great job and thankyou !

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Jo (Australia)

After being told by several mortgage brokers that we would be classed as high risk due to my partner not yet being a permanent resident, we were nearly ready to give up! Then I came across this website and contacted Craig! He has been brilliant and we should be moving into our new home within the next few weeks! It has been only a couple of weeks since I first contacted Craig and now everything is complete. He knows his stuff and has been so helpful. Very fast at responding to any queries I have had (and there have been many as I'm new to all this). He has made the whole process so much less daunting. Thanks so much Craig! Will definately be using you in future!

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Nick (Singapore)

We had a number of brokers on the go trying get us approval for a home loan, but Craig was the only one who came through and got us the amount we wanted at the lowest rate. He kept us well informed throughout the process.

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Eliza F (Sydney)

Dear Craig: On a formal note, I really wanted to say thank you for everything, you've been amazing through the whole process, which I have to admit is a little daunting as a first home buyer with control freak tendencies ;) I can't stop singing your praises and will absolutely recommend you, and send further business your way through family and friends. Thanks again! E x

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Roman and Lauren (NSW)

With all honesty, i must say i have thoroughly enjoyed working with Craig from day one through my long journey to get financing for my first home. At all times, Craig was a continous help and provider of solid advice and feedback and was ever so patient during the whole process. I had the pleasure of meeting him twice and he always came across as a down to earth guy who knew his specilaty and never failed to deliver on his promises. I was amazed to recieve the financing i wanted and i am sure i could have never got it without craigs support and advice along the way. I will certainly recommend him to my family and friends. Thanks Craig again for absorbing my constant questions and being a true finance partner through the journey...

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Sarah P (Brighton, UK)

I always felt you were there looking out for me. You were always available to speak to or at the very least replied to emails without delay (time difference aside!) Followed everything through. Very thorough. Always replied to emails straight away. Gave general as well as specific advice and information.

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Srinidhi (Brisbane)

Special thanks to Craig Vaughan, who all though the process was very forthcoming and always available to my queries. Job well done!

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Prineesh and Deepa (Melbourne)

At one stage I had thought this would not be possible especially with my TR and other conditions but you had done a great job in organizing a loan for me in very minimum time and that too from a very reputed bank. All your services and responses were very quick and took much of the burdens from me. We both are really thank full to you Craig. We shall surely in contact. Few of my friends here are looking for property and even Ill go for another one may be end of this year or early next year and now I can straight away contact you as you got all my history. I can also refer you to my friends as well. Wishing you a happy easter and a great break for the long long weekend. Thanks again Mate Prineesh and Deepa

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Tarik (London)

Craig you've been absolutely fantastic throughout the entire process. As a first home buyer you have made the experience very easy and stress free. I will continue to use your company in the future and recommend anyone looking for a mortgage. Thanks again.

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Penny and Janine (UAE)

Thank you so much for such a professional yet friendly service during this long process. We really don’t believe we could have achieved this if it wasn’t for your intervention. we will have no hesitation in recommending you to our Australian colleagues over here and you must come and visit our date farm when next in the region! It is almost as good as Greece

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