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How do the lenders view student visas?

Will I need a deposit?

best unsecured personal loans

Yes, most banks require you to provide a 20%-30% deposit. You will need another 5% of the purchase price to cover purchasing costs such as stamp duty and conveyancing fees.

If your parents choose to gift you some money to put towards the purchase price, then this will be accepted by most major banks.

The difficulty is that most banks have very strict lending criteria when approving a student visa mortgage. Even if you are approved, then the lender may then impose a higher interest rate.

It also depends on whether or not you are working, as your employment status can affect your ability to get approval. (más…)