Australian Immigration Daily News

Recently in the media you may have been aware that many of the banks are changing their policies around lending to overseas citizens without Australian Residency and temporary Australian Residents with foreign-currency income. A number of lenders will no longer accept overseas income when considering overall debt servicing. In addition, a large number of lenders will now only consider rental income on the proposed security property as a means of servicing the debt – this will result in much lower LVRs than had previously been considered. One of the benefits of migration agents establishing a relationship with Nexus Partners is the ability to access a broad range of on panel solutions for their clients – particularly in areas where some lenders are refining policies or withdrawing from particular market segments.

As of today, June 22 2016, NAB announced will no longer accept any new applications from Foreign Applicants submitted through the Introducer Program. This includes any applications from  AUS/NZ Citizen and Permanent Resident expatriates, temporary visa holders, and Foreign Nationals.  These changes are in line with Policy changes made by other major banks recently in Non-Resident Lending.

Contact Nexus Partners directly as they can help with alternate funding solutions for non-resident lending.