person img
verified icon broker img

Danny

8 months ago

Hi mate, I recently organised finance for a couple exactly in your position. One applicant was a PR and other was a TR, the lender had no issue with approving the loan and they didn't pay stamp duty either as you're first home buyers. Feel free to reach out to me via my profile. Look forward to hearing from you. Danny

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Peter

8 months ago

Hello Praneeth I am a broker operating near your area. I can assist you with your finance. I have come across similar requirement like yours and have successfully helped my clients to get the finance. Please contact me if you have not engaged some one else already. Best wishes Peter

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Daniel

8 months ago

Hi Praneeth - We have done a few loans for couples in similar situations. If you haven`t got a building contract yet, then you will be restricted to 90% - as your partner isn`t a permanent resident yet. Unfortunately you will have to pay full stamp duty and if your partner receives PR within the year of settlement, claim it back from the SRO. Hope this helps. If I can be of assistance, please do get in touch. I am in the Western Suburbs of Melbourne. Regards Daniel.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Nitya

8 months ago

Hi Praneeth, First Home purchase is an exciting time for anyone, so am sure you are thrilled. The best place to start to find a suitable lender is to speak to a Home Lending specialist. I specialize in house and land packages and have assisted many First Home Buyer who are in a similar situation as you get into their first home. Based on what type of spouse VISA your partner is on we can find a suitable lender to meet your finance needs. Ideally if the main applicant is a PR/ AUS citizen and the co-applicant is on a Spouse VISA we can find lenders who can lend upto 95% of the property value to you. Some types of spouse VISA are more restrictive than others so I will need to gather some more personal and finance details from you to recommend a suitable lender for you. If you wish to discuss your options in detail please let me know.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Suresh

8 months ago

Hi Praneeth! It is great to hear that you have brought your first property in Australia, you must be very excited with this purchase, to help you with the finances given your situation as I have helped many customers in similar situation it would be a good idea to meet up for an initial consultation at no cost to you with your partner, please bring with you all of the documents, Passport, drivers licence, Visa documents, medicare card & the contract of sale pertaining to the purchase. Do advise a time convenient to you and we can schedule this meeting. Thanks for contacting Hashching. Best regards,Suresh.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Jason

8 months ago

Congratulations on purchasing your block Praneeth. I'm happy to catch up with you over the weekend if you'd like to go through the whole process in detail. Please inbox me if so. Regards, Jason

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

MARK

8 months ago

Hi Praneeth, Is your partner on Spouse visa? This information is for people who are on a temporary or provisional partner visa and married to an Australian permanent resident or citizen. Even though your husband/wife or de facto partner is not yet a permanent resident or Australian citizen, you may still be eligible to borrow up to 95% of the property value. Discover how. How much can you borrow? Most banks and other lenders only lend 80% of the purchase price due to strict Lenders Mortgage Insurer (LMI) policies. However, some banks will allow you to borrow up to 95% of the purchase price! To qualify to borrow 95% of the purchase price, you must be in a strong financial position and have a stable relationship. What are the lending criteria? Our most competitive lenders have the following policies: You cannot be buying separately: The person on the temporary spouse visa must be buying the property with an Australian citizen. Please see our temporary resident mortgage page if you are not buying a property together with your partner. De facto relationships are accepted: You do not have to be married. The banks accept people on a spouse visa that are in a de facto relationship, including same sex relationships. The relationship must be legitimate and continuing: Most lenders take a common sense approach in looking at how long you have been together and may reject your application if you have not been with your partner for a significant period of time. Legal structure of ownership: Some lenders require couples to purchase a property as ‘joint tenants,’ not ‘tenants in common.’ However not all lenders have this policy and may allow other legal ownership structures. You must be buying the property with an Australian citizen and you must be in a relationship with them. If you do not meet the above lending criteria your mortgage will be limited to 80% of the property value. It is also important that you have a good credit history, a solid income and a stable employment situation. These factors decrease the risk to the bank in lending to you. Please do not hesitate to contact Myself or any of our Star Brokers to help you out with this information. Thanks, Mark

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Allan

8 months ago

Hi Praneeth, you will find that lending policy can vary from lender to lender when it comes to non-resident lending. Some lenders will look at the temporary visa that your partner is under & lend on that basis. Others will be able to assist based on the fact that you are also on the loan and are a permanent resident/citizen. I do believe that the best way forward would be to deal via a broker who has access to a panel of lenders rather than doing the ground work yourself. If you want further assistance, please contact me via my profile. Regards & good luck Allan

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
broker img

Krista

8 months ago

Hi Praneeth! How exciting - purchasing your First Home. I have helped many other couples buy their first property and I would love to help you and your partner find the best loan product for your needs. I can also help organize your First Home Owners Grant. Please let me know if you'd like me to get in contact to talk about your situation. Kind regards, Krista

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 3.49%

Find out more