Westpac stops lending to non-residents

Westpac has decided to stop lending to offshore customers who are not citizens or residents of Australia with an eligible visa. Westpac said its priority is to support Australian citizens and permanent residents living outside of Australia to own a home or investment property in Australia.

For non-residents, Westpac has stopped lending to applicants earning foreign income even if the applicant income is not relied on to meet serviceability.

Source: Mortgage Business