Temporary residents in Australia on 457 visas are, as of today, able to borrow up to 90% LVR with only a 10% deposit plus costs. After the withdrawal of this product during the GFC, it is now back in full force. Providing the 457 visa holder has 12 months in current job and has saved up a good portion of the deposit, then it is very likely they will qualify for a 90% 457 visa mortgage.
Foreign citizens without permanent residency (‘PR’) have to date required a 20% deposit unless purchasing with an Australia citizen or permanent resident. This is a great step forward recognising that there are many professional temporary residents out there who can easily afford the repayments on a mortgage but do not quite have the required 10% deposit.
More information on 457 visa home loans here.
CatiaA huge thank you to Justin for his outstanding service! Finding the perfect place was no easy task and it took a while, but Justin’s support made all the difference. He was always available, providing expert advice and guidance every step of the way. He ensured that I was prepared for the application process, leading to a smooth and successful outcome. I couldn’t have asked for a better experience, and I wholeheartedly recommend Justin. Thanks for helping with this important milestone for me and my little family.
Samuel & AngelinaWe’ve had the privilege of working with Justin throughout the purchase of our investment property and we’re so glad that we had him in the process.
Justin was patient, clear and extremely knowledgeable with recommending the best options for us, taking into account our every need and requirements.
Additionally we ran into a roadblock due to a previous loan setup, but Justin help us navigate it seamlessly, spending additional time to work with his network of lenders to find the best solution, while also ensuring that it set us up for future success.
Highly recommend that you reach out to Justin and his team as you can be assured that they’ll provide the best possible care and recommendation for you.
Kobus&WillemienJustin assisted us in buying our first house, in Australia, 10years ago. He just did it again with our second house. Same old story again… Always helpful, always available, always friendly. We didn’t had any stress, he just sorted it and came up with the best results to suit us. What a pleasure to work with. Thanks Justin, you just made it so easy.
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