Last Updated: 22nd January, 2018

Australian Working Visa Mortgages

Published by Otto Dargan on March 11, 2013

Many foreigners who visit Australia temporarily, or migrate permanently, look to purchase property.

The number of different visas available, and the different mortgage rules they have, can be a little overwhelming.

One of the most common visas held by people looking for an Australian mortgage, is the 457 Temporary Long Stay Business visa.

Some visas are far less common, such as the Skilled Regional Sponsored 487 visa (now under subclass 489).

It can therefore be more difficult to find mortgage information.

Do not worry! There are many banks and lenders in Australia willing to assess visa mortgage applications from holders of almost all working visa subclasses.

You can apply for a loan, if you work in Australia!

If you are on a working visa, you should be eligible to apply for a home loan. This includes such visas as

  • Employer sponsored visas
  • Doctor and nurse visas
  • Business development visas
  • Regional visas
  • Government visas
  • Transitional arrangement visas – ie: Athletes and sports workers, religious workers, and exchange workers.

If you stay is temporary, yet longer than twelve months, most lenders will assess your application. Permanent residents are often given even higher value ratings.

However, you will not be considered high value if your stay is less than one year. Therefore buying property may be difficult.

Professionals on working visas are also given high value ratings. As well as doctors, this can include professional athletes and sports stars.

If you hold an Australian working visa and are looking to purchase property, contact us on 1300 889 743, or enquire online.

Our mortgage brokers will soon be in touch with you.

How do I find a willing lender?

You can do your own research, however this can be extremely difficult and time consuming, as lending policies and guidelines change for each lender.

Furthermore, if you apply to individual banks, one at a time, you severely limit your options, as they will only ever offer you their own products.

If you use a mortgage broker, they can do much of the leg work for you. In most cases, going through a broker is a better way to apply for a loan.

Why is applying through a broker better for me?

Brokers work with many different banks and lenders and therefore know their lending policies and guidelines. They will assess your situation and match you with the lender most likely to approve your loan.

This increases your chance of approval, and of finding a competitive interest rate with lower start-up costs and fees.

Every time you are declined a loan application you receive a black mark against your credit file. This makes lenders more wary of you, and less likely to approve a future loan.

As a mortgage broker assesses your ability to service your loan against the actual guidelines of the banks, before applying, they lower the risk of decline. Therefore, they lower the risk of a negative mark on your Australian credit history.

Please call us on 1300 889 743 or enquire online to talk to one of our mortgage brokers who can give you a detailed assessment.

What is SkillSelect?

SkillSelect is the Australian Government migration program that converted into policy around mid-2012. In order to be granted an Australian visa, either temporary or permanent, you need to lodge an Expression Of Interest (EOI).

It is important to note that many of the visas mentioned here are no longer offered by Australian Government immigration. Instead, SkillSelect has brought some together, under a smaller number of new visa subclasses.

For example, Employer Nomination Scheme visas (Subclasses 121/856) are no longer offered, and neither is the Medical Practitioner visa (Subclass 422). Both visas have now been rolled into the Temporary Long Stay Business visa (Subclass 457).

Many of the business development visas have also been closed. The Business Owner, and State or Territory Sponsored Business Owner visas (Subclasses 160/163), have now become Subclass 890 and 892, respectively.

You can find an overview of SkillSelect on our website, and more information can be found on the Government SkillSelect website.

Once you know your visa and want to apply for an Australian mortgage, contact us on 1300 889 743, or enquire online, and we can help you own your own real estate in Australia.

SkillSelect Visas (current)

  • Employer Nomination Scheme (Subclass 186)

Business People

  • Business Innovation and Investment (Provisional) visa (Subclass 188)
  • Business Innovation and Investment (Permanent) visa (Subclass 888)
  • Business Talent visa (Subclass 132)

Business Owners

  • Business Owner (Residence) visa (Subclass 890)
  • State/Territory Sponsored Business Owner (Residence) visa (Subclass 892)


  • Investor (Residence) visa (Subclass 891)
  • State/Territory Sponsored Investor (Residence) visa (Subclass 893)

Temporary work and specialist entry

  • Temporary Work (Long-stay Activity) Visa (Subclass 401)
  • Temporary Work (International Relations) Visa (Subclass 403)
  • Distinguished Talent (Offshore) visa (subclass 124)
  • Distinguished Talent (Onshore) visa (subclass 858)
  • Skilled Independent visa (Subclass 189)
  • Skilled – Nominated visa (Subclass 190)
  • Skilled – Nominated or Sponsored (Provisional) visa (subclass 489)

What other visa holders can apply for a home loan?

As well as those above, there are more visas, both old and current, with which at least one of our lenders will assess a mortgage application.

Please note that home loans are not limited to the working visas listed above and below.

If you are, or will be, on a working visa that is not listed here, you can still, most likely, apply for a loan.

You may find more information on our temporary resident home loans page.

Doctors (and other professionals) Temporary

  • Temporary Long Stay (Business) visa (Subclass 457)
  • Medical Practiioner visa (Subclass 422)
  • Occupational Trainee visa (Subclass 442)

Doctors (and other professionals) Permanent

  • Employer Nomination Scheme visas(Subclass 121/856)
  • Regional Sponsored Migration Scheme visas (subclass 119/857)

Temporary Work Transitional Arrangements

  • Temporary Work (Long Stay) Activity (Subclass 401) visa – Transitional Arrangements ie: Athletes and sports workers, religious workers, and exchange workers.

For people in Australia

  • Skilled – Independent (Residence) visa (Subclass 885)
  • Skilled – Sponsored (Residence) visa (Subclass 886)
  • Skilled – Regional (Residence) visa (Subclass 887)
  • Skilled – Regional Sponsored visa (Subclass 487)
  • Skilled – Recognised graduate (Temporary) visa (Subclass 476)
  • Skilled – Graduate Temporary visa (Subclass 485)

For people outside Australia

  • Skilled – Independent Migrant visa (Subclass 175)
  • Skilled – Sponsored Migrant visa (Subclass 176)
  • Skilled – Regional Sponsored (Provisional) visa (Subclass 475)
  • Skilled – Recognised Graduate (Temporary) visa (subclass 476)

Closed visas

  • Independent Regional (Provisional) visa (Subclass 495)
  • Designated Area Sponsored (Provisional) visa (Subclass 496)
  • Sport visa (Subclass 421)
  • Exchange visa (Subclass 411)
  • Religious Worker visa (Subclass 428)

Nursing visas

  • Occupational Trainee visa (Subclass 442)
  • Business Short Stay visa (Subclass 456)

Senior Executives

  • Senior Executives (Provisional) visa (Subclass 161)
  • State/Territory Sponsored Senior Executive (Provisional) visa (Subclass 164)

Independent Executives

  • Independent Executive Further Application Onshore visa (Subclass 457IEFAO)

How can I apply for a loan?

Home Loan Experts specialise in many different types of visa mortgage application. Our brokers are highly qualified and work with temporary and permanent visitors to Australia from all over the world.

From people on temporary working visas, through or partner visas; doctor and nurse visas, or via skilled regional sponsored visas, we have helped many people realise the dream of owning their own home in Australia.

If you want to apply for a mortgage, why not talk to us?

You can call us on 1300 889 743 or enquire online and one of our specialist brokers will contact you.

labelCategory: Overseas Borrowers