The situation
A couple with an existing home loan wanted to move into a new home. One of them was on a temporary visa.
The challenge
The bank that already held their home loan wouldn’t approve the new loan because of the temporary visa. They assumed that meant nobody would.
What we did
- Looked at their full situation: both incomes, the visa type and how long was left on it, and their deposit
- Found lenders on our panel that assess temporary visa holders and compared what each would offer
- Got them pre-approved before they started looking, so they could make offers with confidence
The result
They were approved at a lower rate than their existing home loan, found a place they loved and moved in.
“If you’re looking for a broker who goes above and beyond, look no further! 10/10 would recommend to anyone in need of mortgage assistance.”
What this means for you
Being on a temporary visa doesn’t automatically rule you out of a home loan. Lender rules vary by visa type, time left on the visa and deposit size, and some purchases also need Foreign Investment Review Board approval, so check this early. If this sounds like your situation, book a free 15 minute call.
Names and some details have been changed to protect the client’s privacy. Every situation is different, and your result will depend on your own circumstances and the lender’s assessment. General information only, not credit, financial or legal advice. Sklupple Pty Ltd (ACN 676 755 990) trading as KK Talks Finance is a Credit Representative (CR No. 569266) of Australian Finance Group Ltd (ACL 389087).