Just wondering has anyone obtained a mortgage without permanent residency or citizenship,thanks

Yes we obtained a mortgage whilst on a 457 visa. It was 5 years ago so I can't say whether the banks still do it.

The best thing is to find a mortgage broker with experience in mortgages for temporary residents. It is possible but there isn't as much choice as there is for PRs or citizens

We went with Westpac (as we had been banking with them) whilst on our 457 and they never asked about visa status, nor did we we have to sign anything about visa status.

We did have a very big deposit, so may be they thought it was low risk and and the Westpac mortgage woman just wanted her easy commission.

Substitute Comm Bank for Westpac and you have our story as well.

Yes,

we went with HSBC - you need a 20% deposit which I think is the same across all banks.

Our bank (Commonwealth) wasn't the slightest bit interested in our migrant status and were happy to give us two mortgages while we were on a 457. You have more problems getting a credit card.

Our first mortgage we had at least 20% deposit - the second (as we were waiting to sell the first when we moved interstate) we didn't - they were still happy but we had to pay the mortgage insurance.

Dont want to be the party pooper but could something like Duty of disclosure present a problem if the shite hit the fan, as the question is asked on most applications for almost any credit or insurance ,

We went through a broker for our mortgage (on a 457), and went with ANZ. We had a big deposit (50%) and they wanted all of our visa details etc. Maybe it varies from bank to bank.

No question on the Westpac forms. Wouldn't have tried to hide truth if I had been asked or needed to sign otherwise.

The bank knew our migrant status, it just wasn't any kind of issue for them.

Yep, they don't care. It's harder to get a personal loan or credit card than it is a mortgage. I assume the banks work on the basis that you can't really run off with the house, so if you can't pay or do a runner, they still have the asset.

Backpacker finance what next i would say more of a loophole I wonder if
it could be said to be in some cases an overseas investment ????????

Not since FIRB approval requirement was removed in Feb 2009 for temp visa holders buying the single property they will live in.

Temp visa holders buying a second property or investment home is a whole other issue under FIRB rules.

I think this requirement was reinstated last year and temporary residents have to again get FIRB approval