Australian Real Estate for Overseas Students: The Destination for Overseas Students Most Chosen
Beginning in 2003, with the large number of overseas visitors there was a continuous influx of immigrants to Australia.
It is reported that in the period ended March 2009, Australia's population growth rate hit a new high, a net increase of population of 43.9 million people.
Bring a lot of demand for housing, and to promote the growing of real estate prices.
Amongst the army of real estate buyers in Australia, international students account for a great proportion of buyers.
As they are students their parents buy houses and other real estate in Sydney and Melbourne as soon as possible so they can all adapt to the environment, the parents are particularly concerned about the home in which to raise their children is close to school".
TIPS FOR INTERNATIONAL STUDENTS ON BUYING A HOUSE IN AUSTRALIA
Students can buy a house, whether on behalf of the parents, or in their own name. No matter in what capacity.
For financial loans, proof of income is required. Overseas students who have no income or earn only a small amount of income will require their parents as guarantor to guarantee your loan or guarantor your income.
Australian buyers overseas who have a steady income, you can apply to the property prices of 80% of the loan.
However, international students with no earning capacity of their own because of the bank credit regulations, at most can only apply for 60% of the property value.
In addition, if the proportion of loans more than 80%, then, you will be required to produce proof of continuous deposits for more than three months, but most of the deposits can be more than 5% of the loan amount.
The maximum loan repayment period is 30 years.
CAN YOU BORROW TO BUY A HOUSE IN AUSTRALIA?
You buy a house in Australia; the house itself is your collateral, no additional collateral is required.
At the same time, if you have assets in the country, which will help you apply for a loan more convincingly with your loan application.
Your assets in the country are a fully non-necessary condition. In addition, buyers who we can come up with a down payment of more than 20% of the property price, the bank will consider your financial ability to repay the loan as confident.