Home loans on a bridging visa

What lenders look at

A bridging visa tells a lender that something is pending. The questions are what is pending, how long it might take, and what your position is if it isn’t granted.

FIRB and the established-home ban

For FIRB, a person on an onshore bridging visa who is waiting for a permanent visa decision is a temporary resident, which makes them a foreign person. Having applied for permanent residence doesn’t change that until the visa is granted.

That brings in the standard foreign-person rules. You need approval for a new dwelling or vacant land, with an application fee. Established dwellings are banned for foreign persons from 1 April 2025 to 30 June 2029. If you buy as a joint tenant with an Australian-citizen or permanent-resident spouse, approval isn’t needed, but check the established-home question with FIRB before relying on it.

If the permanent visa is granted before you sign, none of this applies: you buy as a permanent resident. If you are waiting on a partner visa, see the partner visa guide, because NSW treats partner applicants differently for the surcharge.

Duty, concessions and grants in each state

States treat bridging visa holders as temporary visa holders. Where a foreign buyer surcharge exists you pay it, and first home concessions generally need a citizen or permanent resident on the purchase.

Deposit and LMI

The 5% Deposit Scheme isn’t available while your permanent visa is applied for but not granted: every applicant must be a citizen or permanent resident at the home loan date. Help to Buy is for citizens only.

With a standard loan, expect lenders that accept bridging visas to ask for a substantial deposit, with LMI above 80% of the value where an insurer will cover it. The cash you need also has to cover FIRB and, in most states, the surcharge. In the WA scenario below, foreign transfer duty at 7% and the FIRB fee add $54,800.

What the grant changes

A bridging visa leads wherever your substantive application leads. If you are granted a permanent visa, the permanent-resident rules apply from the grant: no FIRB, no established-home ban and access to first home schemes. If you are granted a temporary visa, the rules for that visa apply, such as the 482 or 491.

We can’t tell you how long a decision will take, and we don’t give migration advice. What we can do is show you the cost of buying now against the cost of waiting, so the decision is made with numbers rather than hope.

Documents checklist

On a bridging visa, lenders need the paperwork for the visa you hold and the one you are waiting for.

• Passport
• Visa grant notice
• VEVO check showing visa conditions and expiry
• Recent payslips
• Employment contract or employer letter
• Bank statements showing savings and deposit source
• ATO notice of assessment or income statement
• Bridging visa grant notice
• Acknowledgement of the substantive visa application
• FIRB approval letter, or the developer's exemption certificate

This list is common lender practice, not a government rule. Each lender sets its own requirements, so we send you a checklist for the lender we recommend.

Illustrative scenario: a Perth apartment while permanent residence is pending

A civil engineer applied onshore for a permanent skilled visa and holds Bridging visa A while it is processed. She has full work rights, a permanent job in Perth and a 20% deposit. She is signing for a new apartment at $560,000, due to settle in five months.

The table shows the costs if the permanent visa is still pending when the apartment is transferred to her, and if it is granted first and she asks RevenueWA to reassess the foreign transfer duty.

Common mistakes