Lending to non-resident borrowers
Australian lenders lose their appetite for lending to non-resident borrowers.
Following our recent article about verifying employment for Chinese borrowers, we have received a number of enquiries from brokers asking if we know of any lenders who will lend to Chinese non-residents located overseas purchasing residential properties located in Australia.
Over the last few months, Australian lenders have lost their appetite for lending to non-resident applicants due to the difficulty in verifying income earned by non-residents. However, loans are still available through some lenders where you have a joint application and one party is non-resident and the other is an Australian Citizen.
Lenders are continually reviewing their policies. As soon as we receive notification from the lenders regarding their credit policies, we update the information on our Connective News website so that it’s easy for you to keep up with the changes.
Connective has an overseas income verification policy. To obtain further guidance on what we consider to be industry best practice just click here.
If you have any queries or wish to discuss these issues further, please feel free to contact Ryan Leong via email at firstname.lastname@example.org