Can you get a Mortgage while on a subclass 820 Visa?.
Can you get a Home Loan on a Temporary Partner Visa 820?.
You are in Australia, with your Australian partner, and it is time to get a Mortgage to buy the new home, but can your income be taken into account while on a Temporary Visa?
Some banks say NO, to any Temporary Visa holder, and the subclass 820 visa is a Temporary Visa.
So, what options do you have?
Convince them that you are actually eligible, or find a Bank that already knows you are.
If you’re married to, or in a relationship with an Australian citizen, New Zealand citizen or Australian permanent resident, some lenders will assess your mortgage application as if you were an Australian citizen. But only if you are making a Joint Purchase.
Westpac is one bank that allows this, for subclass 309 and 820 visa holders, and up to 90% loan.
How Much Can a Temporary Partner Visa holder borrow?.
If you are married, or in a de facto relationship, with an Australian citizen or permanent resident – regardless of your visa status, you should be able to borrow up to 90% of the property value:
Most Mortgage Brokers should know which lenders will approve your loan despite the fact that you are on a temporary spouse visa.
Thank you to those who have sent me a coffee, it is very much appreciated.
Some Visa Applicants might find an Experienced Australian Migration Agent of great assistance. - ai16