Wave of Chinese real estate buyers creating demand for home loans in Australia
It is well known in Australia that the property market is in a boom phase. This has increased Chinese interest and demand which has then also led to further capital growth of the Australian property market.Chinese property buyers in Australia as also increasing the demand for home loans and investment loans from Australian lenders. Australian banks and other lenders do not assess foreigner home loan applications in the same way as for Australian citizens and Australian permanent residents. In fact many of the lenders do not allow home loans doe non-Australian permanent residents.
This has created demand for Mortgage broker companies that can understand, interact and service with Chinese borrowers. The biggest problem is the language barrier as a lot of the foreign Chinese that are buying Australian property and borrowing from Australian banks do not speak english. Rather they speak mandarin Chinese and maybe their local dialect such as Cantonese.
This has led some mortgage brokers to enlist the service of Chinese speakers to assist them to serve Chinese clients.
One of the mortgage broker companies that has recently added Chinese mandarin and Cantonese speaking mortgage broker consultants is Oak Laurel.
Oak Laurel have enlisted Chinese mandarin and Cantonese speaking home loan consultants
to specifically cater to the Chinese borrowers market.
Resources:
www.oaklaurel.com.au
