First Home Buyers

Non-residents can purchase property in Australia, though there are specific rules and requirements you'll need to follow. Generally, you'll need approval from the Foreign Investment Review Board (FIRB) before purchasing, and there are different rules for new properties versus established homes. The lending requirements are also different for non-residents, with most lenders requiring larger deposits and having different assessment criteria. Concordia Finance works with lenders who actively provide loans to non-resident purchasers, and we understand the additional steps involved in your application. We can coordinate the timing of your FIRB application with your loan application, and ensure you're working with lenders who have experience and appetite for non-resident lending.

While having Australian credit history can be helpful, it's not always essential, and many of our clients at Concordia Finance have successfully obtained loans without lengthy local credit records. Some lenders specialise in working with new migrants and understand that you may not have had time to build Australian credit history. In these cases, lenders may consider alternative evidence such as your rental payment history, overseas credit records, employment stability, savings patterns, and the size of your deposit. For new arrivals, demonstrating responsible financial behaviour in your home country and showing stable income in Australia can support your application. We know which lenders are more flexible in this area and how to present your application to highlight your creditworthiness, even without extensive Australian credit history.

Yes, overtime income can absolutely be considered when assessing your borrowing capacity, and for many essential workers it makes a significant difference to what you can afford. Lenders treat overtime differently depending on how regular and consistent it is. Most lenders want to see at least two years of overtime history, usually evidenced through payslips and group certificates or income statements. If your overtime is consistent and ongoing, many lenders will accept a portion or even all of it as genuine income. Concordia Finance works with a wide panel of lenders and knows which ones are most generous in how they treat overtime for essential workers like nurses, paramedics, police officers, and aged care staff. We help you present your income in the most favourable way so your full earning capacity is recognised.

Several loan types can support new business owners, depending on what you need the funds for and your personal circumstances. Equipment finance helps you purchase machinery, vehicles or technology needed to operate. Business overdrafts provide flexible access to funds for managing cash flow fluctuations. Term loans offer a lump sum for establishing your business premises, purchasing stock, or covering initial operating costs. For essential workers starting a business, some lenders may consider your employment history and income stability favourably. Concordia Finance assesses your specific business needs and personal situation to identify which loan types and lenders are most appropriate. We explain how each option works, what the obligations are, and which structure aligns with your business goals and circumstances.

Yes, new migrants can absolutely obtain home loans in Australia, and Concordia Finance specialises in helping people in your situation. While some lenders have specific requirements for new arrivals, many Australian lenders offer products designed for migrants who may not have extensive local credit history or employment records. The key is knowing which lenders to approach and how to present your application in the most favourable way. We help you gather the right documentation, which might include overseas income evidence, employment contracts, visa details, and proof of savings. Your pathway to property ownership in Australia is entirely possible, and we're here to support you through every step of the lending process.

A finance broker acts as a connection between you and potential lenders, working on your behalf to find suitable loan options that match your circumstances. At Concordia Finance, we specialise in supporting new migrants, non-residents and essential workers who want to purchase property or start and grow a business in Australia. We understand that your situation may be different from traditional borrowers, and we know which lenders are more likely to work with your unique circumstances. Our role is to save you time by researching loan products across multiple lenders, preparing your application correctly, and guiding you through the entire process from start to finish.

Concordia Finance receives payment from lenders when we successfully arrange a loan for you, which means many of our services don't require upfront payment from you. This commission structure allows us to provide expert guidance and application support throughout your lending journey. In some circumstances, particularly for complex applications or specialist lending scenarios, there may be additional fees, but we'll always discuss these with you upfront before proceeding with any work. Our priority is transparency, so you'll understand any costs involved before you commit to working with us. The value we provide includes saving you time researching lenders, improving your application quality, accessing wholesale lending options you can't reach directly, and providing ongoing support throughout the settlement process.

The timeframe for loan approval varies depending on your individual circumstances and the lender involved, but most applications take between two to six weeks from submission to approval. Applications from new migrants or non-residents may take slightly longer as lenders review additional documentation. However, the preparation phase before submitting your application is equally important. At Concordia Finance, we work with you to gather all necessary documents before submission, which helps avoid delays caused by missing information. We also maintain regular communication with lenders to keep your application moving forward. For time-sensitive purchases, we can identify lenders known for faster processing times and ensure your application is as complete as possible from the outset.

When you approach a bank directly, you only have access to that bank's loan products and their specific lending criteria. If your application doesn't fit their requirements, you'll need to start the process again elsewhere. A finance broker like Concordia Finance works with multiple lenders across banks, credit unions, and specialist lenders, giving you access to a much wider range of options. This is particularly valuable for new migrants, non-residents, and essential workers whose circumstances may not fit standard lending criteria. We understand which lenders are more likely to approve your specific situation and can often identify solutions that you wouldn't find by approaching banks individually. Additionally, we manage the application process on your behalf, saving you considerable time and effort while increasing your likelihood of approval.

Yes, we regularly assist clients who have experienced loan rejections from direct lender applications. A rejection from one lender doesn't mean you can't obtain finance elsewhere, as each lender has different criteria and risk appetites. When you come to us after a rejection, we first review why the previous application was unsuccessful. Sometimes applications are declined due to how they were presented rather than the applicant's actual circumstances. We then identify lenders whose criteria align better with your situation. For new migrants and non-residents especially, knowing which lenders to approach is crucial, as mainstream banks may decline applications that specialist lenders would approve. We restructure your application, ensure all supporting documentation is comprehensive, and match you with appropriate lenders, significantly improving your chances of approval.