Temporary Visa loan

Who is this page for?

This page is for foreign citizens who currently hold a temporary visa and are living in Australia. If you would like to buy a property while living in Australia then this page will help to explain how to apply for a home loan.

How much can you borrow?

Air ticketsAs a general rule everyone can borrow up to 80% of the value of the property using a mortgage. If you are married to an Australian citizen, on a Interdependency (subclass 310/110 and 826/814) or Spouse (subclass 309/100 and 820/801) visa then you may be able to borrow up to 95% of the property value.

We often receive applications from international students looking to buy a home to live in while studying in Australia. This is acceptable to Australian lenders as long as you can somehow prove that you can afford to repay the loan either from your job in Australia or using assistance from your parents. Generally students cannot borrow more than 80% of the property value.

Which temporary visas will Australian banks lend to?

The Australian government does not restrict particular visa types to borrowing money, however the Australian banks and other lenders may not approve loans for some visa types.

The below list includes visa types that Australian lenders tend to consider as “Australians citizens” and will allow to borrow up to 95% of the property value:

  • Interdependency (subclass 310/110 and 826/814)
  • Spouse / Spousal (subclass 309/100 and 820/801)

The below list includes visa types that Australian lenders tend to consider as “non-residents” and will restrict the loan to 80% of the property value unless you are married to an Australian Citizen:

  • Working Holiday Visa (Subclass 417)
  • Business Visitors Visa (Subclass 456)
  • Visiting Academics Visa (Subclass 419)
  • Sport Visa (Subclass 421)
  • Entertainment Visa (Subclass 420)
  • Skilled Exchange Visa (Subclass 411)
  • Film, Media, Actors and Support Staff, Photographers and Journalists Visa (Subclass 423)
  • Emergency Visas (Subclasses 302 & 303)
  • New Zealand Citizen’s Family Members Visa (Subclass 461)
  • Religious Worker Visa (Subclass 428)
  • Special Program Visa (Subclass 416)
  • Medical Treatment Visa
  • Medical Practitioner Visa (Subclass 422)
  • Sponsored Family Visitors Visa (Subclass 679)
  • Special Category Visa (Subclass 444)
  • Contributory Temporary Parent Visa (Subclass 173)
  • Contributory Temporary Aged Parent Visa (Subclass 884)
  • Student Guardian Visa (Subclass 580)
  • Holiday and Visiting Visas (Subclass 976)
  • Short Validity Business ETA Visas (Subclass 977)
  • Long Validity Business ETA Visas (Subclass 956)
  • Bridging Visas from A to E

Please enquire online to find out how much you can borrow using your current visa.

Is Australian Government approval required?

Yes you will require Foreign Investment Review Board (FIRB) approval to buy a property if you are not staying in Australia for more than 12 months. Most people on temporary visa’s of these types buy investment properties. If you want to buy a home to live in then this may be acceptable as long as you sell the property when you leave Australia.

Are first home benefits available?

No you cannot apply for the first home owners grant and other benefits unless you are buying a property with an Australian citizen.

Apply for a loan

We are mortgage brokers that specialise in helping people without Australian citizenship to apply for loans in Australia.

If you would like to buy a property in Australia and would like to know more about how we can help then please enquire online.