This page is for people who hold a Bridging Visa A (BVA) or Bridging Visa B (BVB) and would like to apply for a mortgage to buy a property in Australia.
Most of the bridging visa holders who we help with a home loan are in the process of applying for their Permanent Residency (PR).
How much can I borrow?
The percentage of the purchase price that you can borrow will largely depend on the type of visa that you’re in the process of applying for.
- Borrow up to 95% of property value if your partner is an Australian citizen or permanent resident (PR).
- If you’re on a spousal visa and applying for PR you can also borrow up to 95%.
- Borrow up to 80% if you’re on a 457 visa and applying for PR.
- Other visas applying for PR: As long as your migrant agent can confirm that you’re working full-time and are likely to be approved for PR, you can normally borrow up to 80%.
- Other type of bridging visas: If you’re not transitioning to one of the above visas, or you’re not married or de facto with an Australian, we are unable to help you.
We’re specialists in helping people on a bridging visa to get approved for a mortgage in Australia.
Please either call us on 1300 889 743 or complete our free online assessment form and one of our brokers will call you to discuss your situation.
How do banks view bridging visas?
Applying for a home loan while on a Bridging visa is possible, although it’s more complicated. As a general rule, people on a Bridging Visa A (BVA) or Bridging Visa B (BVB) can be accepted for a loan for up to 80% of the value of the property that they’re buying.
This is because A & B visa holders are a lower risk, and have held a substantive visa before.
The amount you can borrow and the lenders that can approve your loan will depend on several different factors:
- The visa that you were on prior to your bridging visa.
The visa that you’re applying for now. You can find out how banks see your visa type on these pages:
- If you’re applying for Permanent Residency (PR) or for Temporary Residency (TR).
- The length of time until your new visa will be granted / assessed by the Department of Immigration & Citizenship.
- Any factors that will have a significant impact on your application such as being married to an Australian citizen or working in a high demand profession.
- The overall merit of your application.
Did you know that most Australian banks don’t accept applications from foreign citizens living in Australia on a bridging visa? You need to apply with a lender who can consider your situation otherwise you are unlikely to be approved.
Other bridging visa holders such as C, D & E are assessed on a case by case basis.
FAQs – Bridging Visa home loans
Do I need FIRB approval?
Bridging Visa holders are considered temporary residents until their permanent residency visa is approved as such they require Foreign Investment Board Review (FIRB) approval.
An exception is when buying with a spouse who is an Australian citizen or a permanent resident as ‘joint tenants’ in which case you are exempted from obtaining a FIRB approval.
Do I need to pay foreign stamp duty surcharge?
Yes, you will be liable to pay the foreign stamp duty surcharge when buying while on a Bridging Visa.
However, when buying with an Australian/ PR holder spouse as ‘joint tenants’, you’d only have to pay the surcharge on the temporary resident’s share of the property, i.e. half the surcharge.
You can calculate the exact surcharge using our stamp duty surcharge calculator here.
Apply for a bridging visa mortgage
We specialise in helping those on a bridging visa to apply for a mortgage. Our mortgage brokers know which lenders can accept your home loan application and offer you competitive discounts.
Please either call us on 1300 889 743 or complete our free online assessment form, and one of our brokers will give you a call to discuss your eligibility for a bridging visa mortgage.