FINANCE

Overseas Buyers

The Australian Government regulates foreign investment in Australia, including investment in property. As a general guideline, overseas buyers will usually be able to purchase properties which are:

• Vacant residential land (to be built on within 2 years)
• Off-the-plan houses and units
• Under construction or newly constructed houses or units
• Residences for company executives who will be living in Australia
• Property for temporary residents living in Australia for at least 12 months (must be sold prior to leaving Australia)

Prior to entering into any purchase contract, as an overseas buyer you will need to obtain approval for purchase from the Foreign Investors Review Board.

Foreign investors may also be able to purchase commercial properties, under certain conditions.

Who Specifically Requires a Non-Residential Home Loan?

·         An applicant who does not hold Permanent Residency Status.

·         A person who is not an Australian Citizen.

Finance Packages for Foreign Investors / Non-Residents

·         Finance up to 80% of the purchase price of the property

·         Packaged loans with interest rate discounts available – Your Loan Market broker will help negotiate on your behalf

·         Choose from a range of variable and fixed rate loans from over 30 lenders and 400 home loan products

Use a Local Finance Professional

Loan Market is your local finance professional. Your Loan Market mortgage broker will handle the finance process for you and liaise with your solicitor to maximise your investment return. Your Loan market broker will research the mortgage market to find the right loan for you.

What a Loan Market Mortgage Broker Does For You

There are plenty of great deals around if you know where to look and who to ask. Every day, good mortgage brokers link home owners, investors and business people with the best finance products available from their panel of major banks and lenders.

Loan Market mortgage brokers especially understand the real estate market, and have access to a range of major banks and secure lenders. They use their knowledge of the home finance market and the assistance of specialised lending software to help you find the home loan that is in your best interest now, but with the flexibility for future changes. Our mortgage brokers will then take over the legwork and guide you through the application process until your home loan is settled.

Your mortgage broker will:

1. Discuss your existing situation, your home loan needs and requirements, and obtain all necessary information pertaining to your home loan application.
2. Explain the types of home loans available to you from a range of banks and specialist finance companies.
3. Based on the information provided by you and utilising specialist home loan software, match your home loan requirements to a selection of home loan products offered by our panel of lenders.
4. Provide an overview of your ‘Purchase Budget’ incorporating the relevant costs associated with your home loan application in writing.
5. Provide an in-depth overview of the home loan product or products you select in writing.
6. Complete and package your home loan application and deliver it to the lender’s assessment team on your behalf.
7. Act as an intermediary between you and the lender, negotiating the terms and conditions of your loan. They will also answer any questions the lender’s assessment team may have.
8. Liaise with your solicitor, real estate agent and accountant and any other related parties to ensure a smooth and timely settlement.
9. Assist with any future home loan requirements, whether you wish to check, change or top-up your loan.
10. Act as a valuable information service beyond the settlement of your loan by providing you with relevant information on the home loan market, updates on products and special offers that may be of interest to you.

Why is a Consultation With a Mortgage Broker Free?

When you decide which lender you want to work with, that lender pays the broker fees or commissions for directing your business to them. Your interest rate will be just the same as if you were dealing directly with a bank manager or lender yourself. To be sure you are being recommended to the right lender, just ask your broker to show you all the lenders on their panel, and what your loan options would be, against each lender’s criteria. A good mortgage broker will provide you with a range of suitable options without the need to ask. You can also ask to see the commission your mortgage broker will make from each lender; in some states this is a requirement.