Lenders are offering finance approval for 457 Visa Holders who are currently awaiting permanent residency in Australia and are looking to purchase a property. We can assist 457 Visa Holders in successfully obtaining a home loan, without a high deposit needed.
Previously, it has always been very difficult for anyone other then permanent residents and citizens of Australia to obtain a home loan and lenders have required non-residents to pay hefty deposits. Select lenders are currently offering a loan to value ratio home loan of 90% inclusive of Lenders Mortgage Insurance (LMI) for 457 Visa Holders. This means they will require just a 10% deposit, rather than the usual 20% deposit plus fees.
The client must be earning Australian dollars to be eligible and normal lending policies do apply.
If you or someone you know is looking to purchase a property on a 457 Visa and is seeking financial advice, please give us a call today!