Expat loans

A few questions I wanted to float for discussion:

1. Consensus seems to be that maximum LTV is 80%. Does anyone know of any lenders who go to 90%?

2. I have siblings in Australia but who are on a lower income than me. Would one way to resolve this to be to have the Australian-based family member as the borrower to access 90% LTV but supported by a guarantee from me?

 

Who will be on the title?

 

Good question - we could be listed jointly or we could have it solely in family member's name to hold on trust.

 

The trustee would be liable for all expenses. And potentially mess up their borrowing capacity. And the reverse: if the trustee does not pay their debts......

 

No lender would lend where the owner is acting as trustee for you.

 

Cba does 90%

 

Broker told me CBA capped out at 80% for expats.

 

Have a chat to Shahin. I emailed him a month or so ago. I haven’t gotten a loan from them so it could’ve changed recently.

Elite Property Finance

 

Depends on the circumstances. For some currencies they've go as high as 95% LVR (90% for investment). For other currencies they'll go to 80% LVR and then for less common currencies they won't lend at all.

Of any of the acceptable foreign currencies, they'll only use 80% of it for servicing.

The advice you received may be accurate to your circumstances, but it isn't accurate for the next person.

As for buying with family members whilst you're living overseas, that really complicates things. Not the way I'd prefer to do this.