subject: Australian 457 Visa Holder: Could I Buy Property? [print this page] Australian 457 visa holders looking for properties in Sydney, Melbourne, Perth and other cities should first get Federal Investment Review Boards approval. Boards permission is required for a temporary resident to become a home buyer. The process takes one month to complete. It involves filing of application and furnishing papers as required by the board.
After getting the approval from FIRB, temporary visa holders can look for suitable home loan products to buy properties. Since there are many lenders like banks and private financers, one can shop around to get the best deal. New home loan products are offered from time to time that temporary visa holders can explore.
Non-residents face some difficulties in getting home loan due to strange reasons. They are denied loan by many banks on one pretext or another. But not all banks are alike as there are financers that offer quick home loan approval to temporary residents. One can search friendly lenders or take help. Searching on your own could be a tedious affair but there would be no hassle, if one takes help.
Who can help an Australian 457 visa holder in getting right home loan? An experienced mortgage broker can help non-residents find lender and get home loan on easy interest rates. Good thing is that one needs not to worry about paying brokerage or any kind of service charge to the broker as he would get commission from the lender. He would play mediator between you and your lender. He would negotiate a deal that is favorable to you and also to the lender.
There are many brokers and you can locate an ideal broker on the web. The broker would first understand your home loan requirement and then find right lender that suits to your needs. He can find a lender in no time as brokers maintain business relations with banks and financers. Simply put an average home buyer is no match for the capability of a broker. Being an Australian 457 visa holder, you should consider taking help of a broker otherwise, you would face many difficulties in finding a lender.
Australian 457 visa holders are allowed to borrow home loans and buy properties. You can find many temporary residents, who own homes in prime locations in important cities. A broker can make things simple for you. He can find lender and also negotiate the best deal in your favor.
by: Larson Flint
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