This week, Westpac group have announced changes to their lending policy for non-Australian residentsApril 29, 2016
Westpac, St George, Bank of Melbourne and BankSA will no longer accept mortgage applications from non-residents. This is following last week’s announcement that Commonwealth Bank also will no longer accept mortgage applications from non-residents. However, there are still other lenders that are lending to these clients.
For more information refer to the article in The Age – ‘Westpac stops lending to foreign property investors’.
Please contact your Nexus Partners BDM if you require any further details or if you need a point of contact at one of the above lenders to speak with your clients.
We will be putting out a Matrix with the current lending policies of each of the banks soon to provide some clarity on these recent changes.