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Non-Resident and Foreign National Mortgages who want to buy property in Australia with an Australian mortgage

Every year thousands of foreign nationals, Australian expats and temporary residents decide to buy a home or investment property in Australia. Foreign nationals can finance their Australian property in 3 ways- 1) they could pay cash for the property, 2) The property could be financed with an overseas mortgage or 3) The property is purchased by using a n Australian mortgage from an Australian bank.

This section is designed to help you understand how the buying process works and how we can help you to apply for a non-resident mortgage in Australia.

Click on each question below for more information

1) Why buy in Australia?
2) Buy residential and also commercial Australian property
3) Foreign Investment Review Board (FIRB) approval
4) Who doesn’t need FIRB approval?
5) Who needs FIRB approval?
6) Owner occupied or investment? Will it make a difference if you live in the property or not?
7) Property Types available in Australia
8) When during the buying process do I need FIRB approval?
10) How much of the property value can I borrow?
11)What features do Non-resident /foreign national mortgages have?
12)How do banks view applications from foreign investors?
13)Which bank should I choose?
14)Why choose MasterFinance ? Can’t I just go directly to the bank?

 

 

Australian Expat Mortgage

Many of our customers are Australian citizens or dual citizens living overseas who want to invest in the Australian property market. We will choose a lender that accepts your situation. This way, you can avoid many of the headaches associated with applying for a loan
1)Are you an Australian Expat?
2)How much of the property value can I borrow?
3)Will I pay higher interest rates?
4)How much deposit will I need?
5)How can I prove my income?
6)Which banks do Expat Mortgages?
7)Is Australian Government Approval required?

 

Permanent Resident Mortgage

1)How much can you borrow?
2)You can also apply for first home benefits such as the First Home Owners Grant (FHOG).
3)Is the First Home Buyers Grant available?
4)Which Permanent Resident visa is eligible?

Australian home loans for New Zealanders!

This section is for New Zealand citizens or New Zealand permanent residents (PR) living in either Australia or New Zealand, who would like to apply for a mortgage to buy real estate in Australia.
1)How much can I borrow?
3)What documents do I need to provide?
4)Is Australian government ( FIRB) approval required?
5)Owner occupied or investment property?
6)Am I eligible for the First Home Owners grant?
7)Which banks are best?
8)Why do special rules apply to NZ citizens compared to other nationals?

 

Bridging Visa Mortgage

This section is for people who hold a Bridging Visa A (BVA) or Bridging Visa B (BVB) who would like to apply for a mortgage to buy a property in Australia. Most of the bridging visa holders who we help with a home loan are in the process of applying for their Permanent Residency (PR).
1) How much can you borrow?
2) How do banks view bridging visas?

Business Visa Mortgage

Due to Australia’s economy, business people with specialised talent are more in demand than ever.
There are different subcategories of business development visas offered by the Australian Am Government.
1) Can I get a mortgage?
2) What are the banks concerned about?
3) Which business visa are eligible?
4) How much can I borrow?
5) Have you purchased a business in Australia?
6) Have you started a branch/subsidiary of an off-shore business in Australia?
7) Have you started a new business in Australia?

 

Spouse Visa Mortgage

This section is for people who are on a temporary or provisional spouse visa and married to an Australian permanent resident or citizen.

We know which lenders will approve your loan despite the fact that you are on a temporary spouse visa. If you are married to someone who has permanent status in Australia, the risk to the lender is reduced and banks may be more inclined to lend to you. You may be eligible to apply for an Australian mortgage! Even though your husband/wife or de facto partner is not yet a permanent resident or Australian citizen, you may still be eligible to borrow up to 95% of the property value.

Read on to find out how you can buy a home or investment property.

1) How much can I borrow?
2) What are the lending Criteria?
3) Does a Provisional Spouse Visa qualify?
4) Which spouse visas are accepted?
5) How much deposit do I need?
6)Can I buy a property with my de-facto partner?
7) Am I eligible for the First Home Owners grant?
8) Will I need FIRB approval?
9) What are the banks concerns about my relationship and visa status?

457 Visa Mortgage

This page is for foreign citizens who currently hold a work visa and are living in Australia. The most common type of work visa application we receive is for professionals who are on a 457 visa.
If you would like to buy a property while living in Australia then this page will help to explain how to apply for a mortgage and how we can help.
1) How much can I borrow?
2) Will I pay a higher interest rate than Australians?
3) Which other work visa types would be accepted?
4) How can I borrow more than 80%?
5) Do I need to get FIRB approval?
6) What happens if I lose my job?
7) Do I need to notify the Department of Immigration?
8) Am I eligible for the First Home Owners grant?

Student Visa Mortgage

1) Can I get a mortgage on a student visa?
2) Should I apply in my parent’s name?
3) What if I have a job?
4) How much can I borrow?
5) How much deposit will I need?
6) How do the banks/lenders feel about student visas?
7) Are you currently receiving income through a Scholarship?
8) Will I have to pay a higher interest rate than Australians?
9) Will I need FIRB approval?
10) Which student visas are accepted?

 

Temporary Resident Mortgage

Would you like to buy a property while living in Australia? If you meet the following qualifying criteria then you can get approved for a mortgage.
1) How much can I borrow?
2) Which Temporary Residents will Australian banks consider for a mortgage?
3) Do I need FIRB Approval?
4) Am I eligible for the First time buyer grant?
5) Are you on a Temporary Resident visa and have foreign income?
6) How can I prove my foreign income?
7) How do lenders/banks assess foreign documents?
8) What documents do I need to provide?
9) What if I pay no Tax in my country?
11) How do banks assess my foreign debts?
12) Are any counties NOT accepted by the banks?

 

Sending Money to Australia

It can often be expensive to transfer money from overseas bank account to an Australian dollar bank account. With so many banks, lenders and foreign currency providers it can be difficult to understand what is the best way to transfer your money to Australia.
1) What is the best and cheapest way to transfer money to Australia?
2) Which bank shall I open an account with?
3) What about banks that have branches in Australia and other countries?
4) What are Foreign Exchange Companies?
5) How can I transfer my money?
6) Are there any counties I cannot transfer money from?
7) Which foreign currencies do banks accept?
8) Can I set up a Corporate Transfer/Exchange account?
9) Can I transfer money into somebody elses bank account?

 

Witnessing Mortgage Documents

If you are living overseas you will need to have copies of your ID and supporting documents witnessed when applying for a home loan for an Australian property. The mortgage documents that require an authorised witness signature will depend on the state the Australian property is located in and the lender you are borrowing from.
1) Which documents need to be witnessed?
2) What is required when witnessing a mortgage form?
3) How can I find a JP?