Banks that treat overseas income, including from shares, favorably?

Citibank says no

 

HSBC says maybe.

 

You're unlikely to find a lender that will do a 90% LVR that is dependant on income from shares. It's already very difficult to find lenders that will fund above 80% on a regular income.

Also calling the general help desk isn't ideal for getting policies on tricky scenarios. They're reading from a general manual and usaully don't dig much past the surface.

Rather than calling all the lenders yourself, what you need to do is get in touch with myself or one of the other brokers and get an analysis done based on the actual break down of your income. This will give you a short list of lenders and how much they'll lend based on acceptable sources of income.

 

Hi Peter,

First off, yes, I very, very, very much wish I had gone through a broker to begin with. I've spoken to one as of yesterday and he's exploring options. Simultaneously I'm calling around to see what I can find out.

Just to be clear - I'm not looking for a 90% LVR. What I'm looking for is:

- Loan of $1,440,000 on a purchase of $1,800,000 - so LVR of 80%
- Loan will be an investment loan, with the maximum allowable P&I period
- Purchase will be made in my partner's name (Australian citizen) with me (US citizen with a partner visa in Australia, pending permanency) as a servicing guarantor
- Loan serviceability will likely depend on positive consideration of my US shares portfolio as a source of ongoing income.

The KEY here, from my perspective, is finding a lender that will consider income produced by my US shares portfolio (US listed companies, US account, USD value). So far I'm mostly being flat out rejected on that point, though a month ago they were all clamoring for my business.

 

AMP?

 

They're no longer willing to consider overseas anything, as of today....

 

Yes. Things are getting scary very, very quickly.

 

It's not that bad... just one lender that has been way way way overweight in I/O and foreign lending for many years, having their reins pulled in... there are plenty of other lenders beside Westpac and its family of BSA/BOM/RAMS and STG.

The world will keep turning ....

 

This is very, very, very unfortunate for me right now.