How a 188A visa holder secured his first home in Australia
Occupation
Self-employed – F&B
Location
VIC (Cat 1)
Loan Amount
$1.8m
LVR
65%
Property Type
House
Scenario
Mr C is the owner of six successful restaurants in Shanghai, China. About ten months ago, he moved to Australia on an 188A Visa and established a new restaurant in Melbourne. For accommodation, he rented an apartment nearby. With his lease soon to expire, Mr C decided to purchase an owner-occupied property. However, he faced a challenge as his onshore AUD income was insufficient to support his loan.
How did Brighten help?
We accept 188A/B/C visa holders with acceptable foreign income under the Brighten Elevate product. In Mr C’s case, he provided us with a valid ABN that is registered for GST for his business in Australia. For servicing, we accepted his Chinese income and approved a $1.8m loan at 65% LVR.
Fees, charges, lending criteria applies.