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by Otto Dargan
Fri Apr 19, 2019 6:44 pm
Forum: Home Loan Forum
Topic: Are there any decent options for us with a low deposit?
Replies: 1
Views: 21

Re: Are there any decent options for us with a low deposit?

Hello Elisabeth. Welcome to the forums. Great job on saving a deposit. To qualify for a 95% home loan as a minimum you’ll need: ⋅  Deposit: A minimum of 5% deposit, this can include the first home owners grant (FHOG) . ⋅  A steady income: You should be earning a regular income to...
by Otto Dargan
Fri Apr 19, 2019 2:49 pm
Forum: Home Loan Forum
Topic: Buying with a temporary 461 spousal visa holder as a New Zealander
Replies: 5
Views: 43

Re: Buying with a temporary 461 spousal visa holder as a New Zealander

Hi Lincoln, Yes, you would need Foreign Investment Review Board (FIRB) approval . However, only the partner who is on the NZ family relationship subclass 461 temporary visa will require FIRB approval. Generally, FIRB takes about 30 days to grant approval. Please visit the official FIRB website to le...
by Otto Dargan
Fri Apr 19, 2019 1:17 pm
Forum: Home Loan Forum
Topic: Buying with a temporary 461 spousal visa holder as a New Zealander
Replies: 5
Views: 43

Re: Buying with a temporary 461 spousal visa holder as a New Zealander

Hi Lincoln, Great job on the deposit, with 20% down you won’t have to pay Lenders Mortgage Insurance (LMI) . In some cases, we may be able to get you the same interest rates as Australian citizens especially when you’re only borrowing 80% of the property value. New Zealanders living and working in A...
by Otto Dargan
Thu Apr 18, 2019 6:56 pm
Forum: Home Loan Forum
Topic: Buying with a temporary 461 spousal visa holder as a New Zealander
Replies: 5
Views: 43

Re: Buying with a temporary 461 spousal visa holder as a New Zealander

Hello Lincoln. Welcome to the forums. When a New Zealand (NZ) citizen on a 444 visa is borrowing with a joint borrower on The New Zealand Citizen Family Relationship (Temporary) 461 visa, some lenders will focus their approval decision on the 461 visa. Some lenders could decline your loan or limit y...
by Otto Dargan
Wed Apr 17, 2019 7:33 pm
Forum: Home Loan Forum
Topic: I need a general guide to buying property in Australia as a foreign investor
Replies: 5
Views: 50

Re: I need a general guide to buying property in Australia as a foreign investor

Hi Zachary, Sure. There are only a handful of lenders that offer foreigner mortgages and they prefer metro or Category A (CAT-1) properties located in: ⋅ Melbourne, Victoria (VIC) ⋅ Sydney, New South Wales (NSW) ⋅ Brisbane, Queensland (QLD) You may be knocked back for a...
by Otto Dargan
Wed Apr 17, 2019 5:51 pm
Forum: Home Loan Forum
Topic: I need a general guide to buying property in Australia as a foreign investor
Replies: 5
Views: 50

Re: I need a general guide to buying property in Australia as a foreign investor

Hi Zachary, Yes, the Foreign Investment Review Board (FIRB) approval is required for foreign nationals buying real estate in Australia. Fees can vary depending on what kind of property or land you’re purchasing but generally if the residential property value is $1 million or less, the FIRB applicati...
by Otto Dargan
Wed Apr 17, 2019 2:54 pm
Forum: Home Loan Forum
Topic: I need a general guide to buying property in Australia as a foreign investor
Replies: 5
Views: 50

Re: I need a general guide to buying property in Australia as a foreign investor

Hello Zachary. Welcome to the forums. Investing in Australia real estate has become really popular with foreign investors looking for strong returns and stability. Foreign citizens can qualify for an Australian mortgage to invest in Australia however, the interest rates are high, the setup fees are ...
by Otto Dargan
Wed Apr 17, 2019 11:33 am
Forum: Home Loan Forum
Topic: Which banks still lend for an investment property with SMSF? NAB?
Replies: 5
Views: 71

Re: Which banks still lend for an investment property with SMSF? NAB?

Hi Raul, Exactly, the interest rates on SMSF loans vary vastly between lenders especially, considering the fact that with some banks you have to pay commercial business interest rates just because they will only assess your application through their commercial credit department. With other lenders, ...
by Otto Dargan
Tue Apr 16, 2019 7:47 pm
Forum: Home Loan Forum
Topic: Which banks still lend for an investment property with SMSF? NAB?
Replies: 5
Views: 71

Re: Which banks still lend for an investment property with SMSF? NAB?

Hi Raul, With a quick calculation using our SMSF borrowing power calculator , you could borrow up to $522,230 by choosing the right lender. Your superannuation contributions are quite large and may incur penalty taxes. Our calculator does not take these higher taxes into account. However, we can com...
by Otto Dargan
Tue Apr 16, 2019 7:35 pm
Forum: Home Loan Forum
Topic: Can NZ citizens buy an investment property in Australia?
Replies: 5
Views: 49

Re: Can NZ citizens buy an investment property in Australia?

Hey Nancy, When New Zealand citizens arriving in Australia, they’re automatically granted a special visa known as a Special Category Visa (Subclass 444). Because New Zealand citizens are considered – for all intents and purposes – to be permanent residents of Australia, they are eligible for the fir...
by Otto Dargan
Tue Apr 16, 2019 7:17 pm
Forum: Home Loan Forum
Topic: Can NZ citizens buy an investment property in Australia?
Replies: 5
Views: 49

Re: Can NZ citizens buy an investment property in Australia?

Hey Nancy, Yes, it is possible! But please note that the process will involve 2 separate home loans. Firstly, you need to refinance your mortgage in New Zealand in order to release equity. We cannot assist with this because our Australian credit licence (ACL) only allows us to deal with finance prov...
by Otto Dargan
Tue Apr 16, 2019 6:55 pm
Forum: Home Loan Forum
Topic: Can NZ citizens buy an investment property in Australia?
Replies: 5
Views: 49

Re: Can NZ citizens buy an investment property in Australia?

Hi Nancy, Welcome to the forums. New Zealand citizens and Permanent Residents living in NZ or Australia , are eligible to take out a home loan that they can use to invest in Australian real-estate. Although some lenders charge a higher interest rate to foreign nationals, we have a lender that can of...
by Otto Dargan
Tue Apr 16, 2019 6:49 pm
Forum: Home Loan Forum
Topic: Which banks still lend for an investment property with SMSF? NAB?
Replies: 5
Views: 71

Re: Which banks still lend for an investment property with SMSF? NAB?

Hello Raul. Welcome to the forums. That’s right, a lot of major lenders like CBA, WBC, ANZ, St George, BankWest, Macquarie, and others stopped offering SMSF loans because of the smaller size of the market, the complexity of trust loans, and because the lender's recourse is limited to the asset itsel...
by Otto Dargan
Fri Apr 12, 2019 7:05 pm
Forum: Home Loan Forum
Topic: Give me a breakdown of all no deposit home loans available
Replies: 5
Views: 118

Re: Give me a breakdown of all no deposit home loans available

Hi Sammy, Consider the following points: ⋅ You’ll have to meet stricter lending criteria than if you were able to come up with a deposit, or at least a larger deposit. ⋅ Some lenders may charge you a higher interest rate, although this isn’t true with all lenders. ⋅ Sin...
by Otto Dargan
Fri Apr 12, 2019 5:58 pm
Forum: Home Loan Forum
Topic: Give me a breakdown of all no deposit home loans available
Replies: 5
Views: 118

Re: Give me a breakdown of all no deposit home loans available

Hi Sammy, Lenders have strict criteria regarding gifted deposits however if it’s your parent or in-laws who are gifting you the deposit (or a portion of it) they are generally accepted. You would need to provide a signed gift letter from your in-laws stating that the amount is actually a gift and no...

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