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Continuing to provide niche products to their distribution partners, Granite has entered a new joint venture allowing brokers to reach globally with products catering to out-of-the-box buyers from non-resident and expat to foreign income and visa holders
With the Australian property market’s consistent economic growth and a solid rental market, it’s no surprise that owning Australian real estate has enduring global appeal.
Our property market is as diverse as our multiculturalism that has played a significant role in our country’s economic growth. Encouraging people globally, including non-residents, expats, and new migrants, to invest in Australian property can boost the housing market and promote economic growth by attracting foreign capital, supporting local businesses, and creating job opportunities. The ability to offer lending solutions to a wider array of global borrowers adds to this diversity and builds stronger connections.
Expanded lending solutions
Recognising the benefits of inclusive economic growth and development, Granite Home Loans has expanded its lending offering to include specialty non-resident and foreign income products. For Granite’s broker network, these products allow for new opportunities in a new segment of buyers as they pursue Australian property ownership. You could be assisting borrowers such as:
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Foreign citizens living and working overseas
- Australian citizens, permanent resident visa holders, or temporary resident visa holders living and working in Australia who may have complex and diverse incomes
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An extensive list of temporary resident visa holders
These out-of-the-box buyers face unique challenges when securing finance, with traditional lenders typically taking a narrow view on acceptable income types and excluding applicants for the visas they may or may not hold. Moreover, the lack of familiarity with overseas financials and income documentation or rigidity over the complexity visas add can further thwart the process. Granite offers new opportunities to this underserved segment.
Non-resident lending experts
Granites’ new partnership comes with over 27 years of experience in lending to a wide range of applicant types and security properties. They understand that the backgrounds and financials of buyers can take a myriad of forms. With a highly trained non-resident and foreign income credit team, they apply their vast knowledge, experience, and understanding in assessing all types of incomes and combinations of borrowers at different stages in their pathway to Australia. Granite has partnered with the market leader in foreign income products to bring your clients tailored eligibility criteria, flexible document requirements, and multilingual support.
RBA Tracker for non-residents and expats
Introducing an exciting new product for the Australian mortgage market, the RBA Tracker brings a transparent rate structure of RBA cash rate + margin. Knowing how the rate is structured means your clients know exactly how it will move, whether up or down. Combine a wider net of lending opportunities with an innovative and competitive product.
All Granite accredited brokers have access to Granite powered by AAA products. For more resources, upcoming information sessions, or to become accredited, scan the QR code.
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