Non resident finance

Discussion in 'Property Finance' started by Undervalued, 26th Nov, 2018.

Join Australia's most dynamic and respected property investment community
  1. Undervalued

    Undervalued Member

    Joined:
    22nd Dec, 2015
    Posts:
    15
    Location:
    Sydney
    There hasn’t been a thread on non resident finance for a while...

    Keen to understand from the broker community whether there are options out there and finance being issued as well as any specific recent experiences.

    My scenario is specific to NZ citizen, NZ income, refinance of Aus freehold property (former PPOR now leased out).
     
  2. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    1,009
    Location:
    Sydney
    Some lenders are ok with NZ citizenship and others are not.

    Westpac, Firstmac, CBA, etc all handle NZ citizens with CBA being the superior lender due to shading amounts, LVR, etc.
     
  3. astonma

    astonma Well-Known Member

    Joined:
    20th Jun, 2018
    Posts:
    51
    Location:
    Melbourne
    When you say 'others are not' are you saying that they shade the income more than the ones you have mentioned? What sort of approx shading range do the ones you have mentioned apply to NZ earned income?
     
    Last edited: 26th Nov, 2018
  4. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    1,009
    Location:
    Sydney
    Others not means they will not look at NZ citizens living and working in NZ earning NZ dollars as acceptable borrowers. NAB applies a massive shading of 40% whereas the others mainly do 20% and some do 10%.
     
  5. astonma

    astonma Well-Known Member

    Joined:
    20th Jun, 2018
    Posts:
    51
    Location:
    Melbourne
    good to know appreciate the reply @Shahin_Afarin
     
  6. Mortgage Capital Australia

    Mortgage Capital Australia Mortgage Broker & Private Lender Business Member

    Joined:
    20th Jun, 2015
    Posts:
    329
    Location:
    Brisbane
    Away from NZ Non Residents it is still possible to finance any nationality to 70-75% lvr on both land and construction.

    Cheers