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Foreign income

Discussion in 'Property Finance' started by Ian Ferguson, 2nd Jun, 2016.

  1. Ian Ferguson

    Ian Ferguson New Member

    Joined:
    2nd Jun, 2016
    Posts:
    3
    Location:
    Ballarat
    Hi Guys,
    I have customers who want to refinance an investment property currently under finance with a major in Perth. (58% LVR) They are a married couple who live most of the year in Indonesia but are classed as Australian permanent residents. They receive rental income plus some income from Australian shares.but
    most of their income comes from a PAYG job in Indonesia paid in Rupiah. They also own a couple of houses in Indonesia unencumbered.
    They do not have any debt except the rental property.
    Which lender is still looking favorably on foreign income at the moment?
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,002
    Location:
    Sydney
    Not many will favour income in Rupiah
     
  3. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    641
    Location:
    Sydney
    Provided that they are Permanent Residents then CBA is your only option.

    Westpac only does it for purchases now.
     
    Terry_w likes this.
  4. imbi3

    imbi3 Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    69
    Location:
    VIC
    If they are expats (australian citizen) then you could also look at ANZ
     
  5. Ian Ferguson

    Ian Ferguson New Member

    Joined:
    2nd Jun, 2016
    Posts:
    3
    Location:
    Ballarat
    Thanks for the replies guys. It looks like CBA will do the deal.
    Thanks Shahin