In recent years, Australia has tightened conditions for overseas investors to buy Australian real estate, especially when it comes to home purchase loans. On the other hand, the conditions for Australian immigrants are getting higher and higher, so many visa applicants have to apply for a temporary Australian residence visa first and then transfer to a permanent residence visa, such as a 457 temporary employer-guaranteed work visa in Australia.
So, can (TR) holders of the following three categories of Australian temporary residence visas and New Zealand citizens living in Australia buy a home on loan in Australia?
1. Employer-guaranteed visas in Australia 457
Australia's 457 visa holders are generally technicians in specific overseas positions lacking in the relevant employment sector in Australia, and after working for the same guaranteed employer for two years during their certification period in Australia, You can apply for a permanent residence visa in Australia 186 or 187, subject to all employers' willingness to continue to guarantee permanent residence visas and all policy requirements at the time for visa applicants to be transferred from 457 to permanent residence visas.
If the visa applicant's Australian 457 visa is valid for at least one year, and most of the deposits are in Australia, and the employer-guaranteed job in Australia is stable, then, This kind of visa holder still has the opportunity to enjoy the Australian citizen's home purchase loan policy. However, many Australian banks have already tightened lending policies for Australia's 457 and other temporary residence visas. Local banks will require Australian temporary residence visa holders to provide large deposit certificates and other materials to support their ability to buy a home.
Australia's temporary residence visa holders' loan-to-value ratio, or (Loan to Value Ratios), has now fallen to 60% to 70% of the total home value. However, if applicants are in good financial condition and have stable employer-guaranteed jobs, some local Australian banks can approve loans worth 80 percent to 90 percent of the total value of the property.
II. Australian 309 / 100 and 820 / 801 spouse visas
At present, Australian spouse visa holders will still be considered Australian citizens, with the opportunity to apply for loans worth 95% or more of the total value of the property.
Australian student visa
It is particularly difficult for Australian student visa holders to apply for Australian housing loans. If Australian student visa holders do not have a job, the best way to do so is to buy a house jointly with their parents. However, if the parents of Australian students are not Australian citizens, that would be equivalent to loans from overseas property investors, but the proportion of loans would be relatively low. However, if Australian students own a stable (part-time / casual) job and a good income, they can apply for a loan worth 80% of the total value of the property alone.
Fourth, New Zealand citizens living in Australia
A New Zealand citizen living in Australia who applies for an Australian home loan will be regarded as an Australian citizen and may apply for a loan of 95% or more of the total value of the property.
（分析研究经验做出结论） sum up
In conclusion, if a person holding a temporary residence visa in Australia wishes to borrow money to buy Australian property:
- If Australian temporary visa holders can work in Australia for at least 12 months, their home purchase loan can reach 80% of the total value of the property;
- If Australian temporary visa holders have a higher income, a stable job and a longer visa validity, then their home purchase loan can reach 90% of the total value of the property;
- If Australian temporary visa holders marry Australian citizens or permanent residents, or stay in a cohabitation relationship, no matter what visa they hold, their home purchase loan can amount to 95% of the total value of the property.
