Most Australian banks do not want to lend to foreigners at all already ..for those who bought better start looking for financing now..another ways is to get bank from Malaysia/Singapore to finance your purchase...

It's really a serious issue...

Not really.

Please check with the latest news

Mine is worst. Get 80% loan from NAB and loan agreement signed. When VP settlement last minute NAB revoke the agreement and refuse to disburse the loan.. Lastly only get 50% loan from others bank but Developer already charge late interest on me and I need to fork out another 30% to settle the differential sum.

one of a major issue with Australia banks. they change policy very frequently.

The banker told me the reason to revoke is due to NAB found too many fraud loan documents from China. Then all the yellow skin kena also.. Sign

but good for you able to pay the 50%, and stamd duty.


what and where did you bought?

It's C ompletely effecting my reserved fund. I bought in Victoria St. Melbourne. 2 rooms apartment.

OMG you bought apartment.
i hope this is ur long term investment.
how much stamp duty u paid? 3% or 8%?

looking for landed now.

Does this apply to foreign investors? Otherwise, makes no difference to me..

IT IS mean to apply to foreign investors bro.

Will be nice if it is. But its not:

Westpac's decision to stop lending to foreign property buyers may have also influenced the move to relax LVR restrictions, Mr Dargan said. Last month the bank took the surprise move to halt lending to non-residents and temporary visa holders buying Australian property, and said it would require locals with overseas incomes to stump up bigger deposits.

sorry bro, info given by agent.
will check with her later.



if then, i have to hold on australia property for now.

by the way it's all about the settlement time，not the time that you pay booking or sign contract.

This post has been edited by kitkat: May 30 2016, 08:04 PM

No worries, yes settlement time. But who knows the bank policy in the future right? Haha. But they are other options like non banks or overseas banks (ie take loan from malaysia/singapore). Many people do that cause easier to do business with their local banks...

What kind of stamp duty?

like malaysia property spa stamp duty.

when you bought ur apartment? i mean contract signed.

No wor.. Don't realize got that charges. Maybe they absorb already?

maybe, about when u signed the contract? if one year ago maybe.

This post has been edited by kitkat: May 31 2016, 09:04 AM

Ya more than a year ago.

if more than a year only 3 %, likely developer "absorbed".

but i am sure you know eventually you are the one who paid for it. LPPL.

HI Ken,

Have you considered buying at Melbourne.?
Its been voted as the most livable city in the world by Economist Intelligence Units for 5 consecutive years.
Malaysian are also one of the highest buyers of properties in Australia compared to other nationals.

The state of Victoria ( where Melbourne is located) is going to increase the foreign purchaser levy from 3% last year to 7% starting from 1st July 2016.

Since Melbourne properties are very popular amongst local and international buyers (due to high rental yields), many are rushing to buy.

what is your opinion on this?

This post has been edited by Melbourne_prop: Jun 10 2016, 04:43 PM