My friend has a property fully paid off, now he wants to get a loan borrow around 40% of the property value, but since we have heard so many news about banks not lending to overseas buyer, not accepting overseas income, just wondering can he still be able to borrow the money?
Hi there The restrictions are on 'non residents' - is your friend a resident? with AU income ... Cheers Ivan
Yes, but I dont think bank will accept rental income as only income source, this getting loan for non PR resident thing is getting very difficult now
It is still possible to lend to non resident student visa, but cash out + no *real* income is going to see this going nowhere quickly unfortunately. Still possible to certain non resident visas or overseas investors - in general most types have fallen out of favour with more restrictive terms and a reduction in lenders who will lend to them - but it's still available.
a family member current status is.. currently temporary resident graduate visa with a full time job, been say 12months and on going, with her residential property fully paid but not under her name but mothers. has 20% deposit for a investment property... salary 66k gross. Would she have options as a non resident to purchase an investment property?
Cash out to Non Residents is still available but admittedly can't be done in a traditional manner. Must admit the number of enquiries for this sector of the investor market has grown out of all proportion over the last few months. Cheers Richard
Is there lenders up to 80-90lvr for temporary residence with stable AUS job and income. If so what lenders are available?
