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.
ShannonJustin was brilliant to have as an broker. He worked with my schedule and got everything organised with good counsel and assisted with resolving any issues, and where he wasn’t able to personally, pointed me in exactly the right direction to work the issue, myself. Absolutely will be utilising his services again in the future.
Ilse & Dave HawkinsJustin guided us from start to finish with our refinancing process, and was able to get the lowest possible interest rate. He kept us informed and made it a simple and quick. Justin was a pleasure to deal with! Thank you Justin!
Dan & Lisa DuncanWe have worked with Justin to refinance our house and an investment property.
We had some complexities that Justin guided us through. He achieved a better rate and structure for us than we had dealing directly with the CBA.I have worked with other brokers over the years, but none as responsive, knowledgeable, and easy to work with. Thanks mate!
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