Australian expat home loans to buy property in Australia

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Australian expat home loans to buy property in Australia

Home loans for Aussie expats - Australian expat home loan - Aussie expat home loan

Aussies expats, just because you are overseas does not mean you can’t get a home loan in Australia.


An Australian expat home loan is a type of home loan for Australian Citizens or Australian permanent residents who are living overseas. Some lenders will not approve home loans for Australian expats living overseas and those that do have specific criteria about how they assess  home loan applications from expats living overseas.

 

Some lenders will lend over 80%, up to 95%, of the property value for Aussie expat home loans if lenders mortgage insurance is used. However, due to the logistics of paying the mortgage payments, it is often easier if a larger deposit is paid and the mortgage payments are covered by the rental income.

Foreign income will be considered by some lenders in their assessment of home loan applications. You will be required to provide payslips from your employer. Some lenders may accept a letter from your employer as evidence of your income in certain circumstances. This can be beneficial if you are in a country where formal payslips are not usually provided.

If you are providing payslips and the payslips are in a foreign language they may need to be translated into English. Your foreign income will generally be converted into Australian dollars and then reduced by set percentage, typically 80%, to account for fluctuations in currency exchange rates. Any rental income including from the property being purchased with the home loan can also be considered. Some lenders will reduce the rental income by a percentage (e.g. 80%) to account for vacancy rate and other costs associated with the property.

No, Australian expats do not need Foreign Investment Review Board approval to buy property in Australia.

Yes, Australian expats can get a construction loan to build a house / property in Australia.

Some of the other considerations when applying for an Australian expat home loan include:

Some lenders will require you to have a power of attorney whilst other will not allow a power of attorney.

If you are overseas when organising your home loan may need to go to an Australian Consulate to provide or sign documents.

Other lending criteria still apply so you will need to demonstrate your ability to repay the loan, certain property types or locations will not be acceptable to some lenders and you may be required to show genuine savings when borrowing a high percentage (>80%) of the property value.

Oak Laurel are independently owned mortgage brokers, we are not owned but a big bank like some other mortgage brokers.

Oak Laurel have access to a wide range of lenders and wide range of loans. This means that you have more choice and more likely to find a loan that is right for you.

Oak Laurel have have specialist in different areas of finance so you know that you are getting expert advice from a specialist in the type of loans that you are after.

Oak Laurel mortgage brokers get the difficult loans approved. If you have been told by a bank or other mortgage broker that it can’t be done try us.

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Let one of our mortgage broker take care of your loan so you can relax!

Need help with your loan?

Contact a finance professional to discuss your needs.

Pick up the phone and talk to us, call

0430 129 662

OAK LAUREL

Oak Laurel Mortgage Broker

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Do you need to transfer money to or from overseas / abroad?

There are some great non-bank options for transferring money internationally.

Find out more about better international money transfer choices.

Great Service

Oak Laurel will provide you with exceptional service. An Oak Laurel mortgage broker will provide ongoing service so that you get a great deal on your finance now and into the future!


Great Results

Oak Laurel will get you a great result! Be confident that you are in good hands.


Expert advice

We will provide expert advice so you can be sure that you are getting the right loan.


Range of lenders

Oak Laurel have access to a wide range of loans from the major banks and other lenders, even some lenders that you may not even know about.


Our Panel of Lenders

Our mortgage brokers have access to a large panel of lenders, this means that we can offer you a wide selection of home loans.

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Please note: some of our mortgage brokers may not offer products from all of the listed lenders.


Foreigner home loan

Living overseas but not an Aussie expat? See information about foreigners living overseas home loans.



Non-resident home loan

Are you a non-resident, not an Aussie expat? See information about non-resideny home loans.


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