Are You a Doctor on a 482 Temporary Resident Visa in Australia Wanting to Buy Property?

Yes — but not every lender will say yes. Some lenders won't touch a 482 visa application at all, while others have dedicated medico divisions built specifically for doctors and specialists on skilled visas. That's why the lender you approach matters as much as your own financial position: the difference between a generalist lender and a specialist medico policy can be six figures in borrowing power. Nearly 80% of home loans in Australia are now arranged through a mortgage broker, usually at no cost to you, which is exactly why most 482 and 186 visa holders don't go it alone

This is the rule that catches most 482 medico visa holders out. Under current foreign investment rules, if you're purchasing on your own as a 482 visa holder, you generally need to buy a new build or buy land and build — established (existing) homes are off the table. The exception is if you're purchasing jointly with a partner who is an Australian citizen or permanent resident, which opens up established homes as an option. Being on a 186 visa (which sits much closer to permanent residency) also gives you considerably more flexibility than a 482 alone. Get this clear before you start house-hunting, because it shapes your entire search.

Two costs catch people out. First, FIRB (Foreign Investment Review Board) approval is compulsory before you purchase as a 482 visa holder, and the fee is charged upfront at the time of application — as a guide, it's roughly $15,600 for properties under $1 million and around $31,300 above that, though these fees are set by the government and do change, so always confirm the current schedule. Second, most states charge a foreign buyer stamp duty surcharge on top of standard stamp duty, and it varies significantly by state — the ACT and Northern Territory are currently the only jurisdictions that don't charge it. Both of these need to be built into your budget well before you start making offers.

Deposit-wise, it depends on whether you're buying solo or with an Australian partner. Jointly with an Australian citizen or permanent resident, some lenders will go as high as 90–95% LVR (a 5–10% deposit). Solo on a visa, most lenders sit closer to 80% LVR, i.e. a 20% deposit — though doctors can access dedicated medico packages at select lenders. Beyond the deposit, how your income is structured matters a lot: the closer it looks to standard PAYG income (base salary, percentage-of-billings treated as commission, annual sign-on bonuses), the more favourably lenders tend to treat it. Lenders will also want to see things like  (WIP),if you bill privately, your ABN if relevant, three months of bank statements and expenses, and your existing credit cards and liabilities.

Don't rule out regional Australia. Many 482 medico placements are in regional centres — think Wagga Wagga, Toowoomba, and similar — and regional markets have historically performed strongly over the long term while being significantly cheaper to buy into than the capitals. A few practical things also shape your options: whether you're looking rural or metro, house or apartment, some lenders cap the maximum land size they'll lend against in regional areas, and certain postcodes are viewed more favourably than others by different lenders. Property markets also move in cycles, so which capital city looks strongest today can shift — worth a specific conversation about your situation and current conditions rather than general assumptions about where's "hot."

Doctor-specific loan packages (sometimes called medico packages) exist because banks view medical professionals as a lower default risk. Depending on the lender and your role — GP, specialist, dentist, or hospital-employed doctor — these packages can include deposits as low as 5% with no LMI, no minimum income threshold at some lenders, overtime and allowances counted favourably, professional package discounts, and loan sizes up to $5 million or more. Not every lender offers these, and eligibility differs by specialty and visa status, so it's worth having your situation assessed against the current panel of medico-friendly lenders rather than assuming a generic bank policy applies.

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​Lending policies, LVR limits, FIRB fees, stamp duty rules, and property market conditions change regularly and vary by lender and state — this FAQ is general information, not personal financial advice. Book a strategy session to get an assessment based on your visa status, specialty, and goals.