Westpac Bank and its subsidiaries are no longer lending money to foreigners wanting to buy residential property.
It is the third major bank to clamp down on lending to non-residents, home buyers with foreign self-employed income and those who hold temporary visas in Australia.
ANZ and the Commonwealth Bank moved earlier this month.
NAB said its current rules for non-resident buyers stipulate that they must be employed, not self-employed or shareholders, must be met face-to-face and will only be lent up to 70 per cent of the value of the property.
Read the full article on abc.net.au.