The Scenario – Employee From China
Married couple Ming and Joy live and work in China.
They are employed by a large manufacturing business and things are going very well. They had seeked some financial advice and were interested in investing in Australian property.Their main concern was the difficulty in having their financial paper work prepared as they had their income channeled through multiple trusts and also received some self employed income. Ming contacted the CBA during Australian business hours and spoke to a lending officer who requested full translated tax returns, 12 months bank statements of all income accounts and several other documents to verify income. Although Ming understood that it was necessary to prove income, he gave up due to the amount of paperwork involved.

Solution:
Ming then decided to send an online enquiry to Loan Market to see if there were other options. He was delighted to get a response via email almost instantly and a phone call during his own business hours. Lee from Loan Market was able to structure a loan for them to purchase an investment property with only a letter from his accountant to verify his income. Due to the strength in his assets and deposit, no other documentation wasrequired, saving Ming a pile of paperwork and also speeding up his approval.

The Scenario – 90% Lend for Non Resident
Jessie and Mark are currently living and working Ireland. Jessie is an Australian citizenand Mark an Irish Citizen. They wanted to purchase a property in Australia for Jessie’s father to live in. After talking to a few lenders, they had found it to be difficult because Mark was an Irish Citizen and was the main income earner.

Solution:
Jessie then sent an enquiry through the Loan Market website and was contacted via email within 2 hours. A Loan Market Broker was able find a lender that could use the income and the residential status of Mark. The loan was structured with a Major bank, due to the strong employment history of Mark, they were able to lend 90% of the purchase price and enjoy a market leading fixed rate with a major bank.

The Scenario – New Zealand Resident Earning Foreign Currency
Lea is a New Zealand citizen living and working in Dubai for a large company. Her income is paid to her by her employer in Durim. She wanted to purchase her first investment property and chose Australia as she has family here. She had conducted some research online and quickly realized that many lenders required for her to be paid her income in Australian dollars in order for them to assist her. She then came across Loan Market.

Solution:
After speaking with Megin (initially via email) she was able to find a source a suitable loan from a lender that would not only allow her to borrow 80% of the value of the property but also give her the maximum amount she could borrow. Lea purchased her investment property, has since enjoyed some good capital gain with the Australian Market and is now looking at buying another one using the equity.

The Scenario – Offshore Income, Vacant land and Construction Loan
Brother and sister, John and Kirsty wanted to purchase a block of land and build an investment property.
Kirsty lives and works part time in Australia and receives some government assistance, John lives in the UK and is self employed with his IT business.They are both Australian citizens. A small deposit was available however they had wanted to conserve this for building approval costs and keep a buffer in case anything had come up. This limited the amount they could put as a down payment. However, they did have the option of using their parents home as additional guarantee security.
They contacted Megin from Loan Market and were ecstatic when they were told that this entire project could be funded for them, by a major bank, in the unique situation they were in.

Solution:
A limited deposit construction loan with a guarantor security involving offshore self employed income. This was approved with a major Australian lender with competitive interest rates. Definitely a milestone approval.