The regulators APRA and ASIC have imposed restrictions on investment lending in order to try and take some heat out of the Sydney market. Foreign income is being heavily discounted by the majors. Most lenders can't get the LMI they need to lend over 70% for expats, however we have some lenders who can do PAYG 80% and another lender offering Low Docs at a price.
Most lenders don't have important customers they have important shareholders. Don't just take the first deal that you are offered - there is nearly always a better deal, easier policy or faster process and it is our job to know who has what
Investment lending has been turned on its head by strict changes to prudential regulations. This is in reaction to the over-heated Sydney and Melbourne property markets. While these changes don't specifically target expats, by definition most expats are looking for investment property. However returning home to Australia has its own issues and these are often unexpected so it is very important that you get good advice before you consider an application.
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