The Federal Government has announced changes to foreign investment rules for residential housing which basically takes things back to where they were pre 2008. That is, many of the exceptions to the requirement to make an FIRB application have now been removed so that even Temporary Residents seeking a home loan and purchasing property in Australia to live in (which was an exception) will fall within the regime and an FIRB application will need to be made. This does not apply to those temporary residents on a spouse or defacto spouse visa purchasing with an Australian Citizen as joint tenants. Information on spousal visa home loans here. Temporary residents that are looking to move into the property though should not be concerned. Whilst it is an extra hurdle with a few extra forms to complete, the approval should just be a technicality. The fact is that the government does not generally oppose such purchases as their policy is more to prevent… Read More
Archives for July 2010
6 reasons why Australian Expats prefer to use MAP Home Loans
1. Home Loan options from 35+ major and minor lenders Many mortgage brokers claim to know bank policy but in reality favour 1 or 2 banks. And if you go into the branch the bank manager is not going to tell you the bank down the road has a cheaper interest rate and fees. At MAP we know bank policy, procedure and interest rates for over 35 lenders ensuring you get the bank and home loan that is right for you, not the one that is right for your bank or broker. 2. Up to 90% LVR for Australian citizens living and working abroad Map knows lender policy back to front on Australian Expat Home Loans as this is what we specialise in. We can arrange up to 90% LVR and sometimes 95% for Australian Expats who have stable employment and clean credit history. See the advantages of a 90% LVR and an explanation of lenders mortgage insurance. 3. Experience: With over 100 million… Read More
