Expat Home Loan

If you are an Australian citizen living and working overseas it is still possible to get a mortgage. You can buy an investment property in Australia with an expat home loan.  An expat is deemed to be any person that holds an Australian Citizenship and resides and is employed overseas.

Expats may face some unique challenges when applying for a home loan including difficulty in proving income. As a result, some banks and lenders offer specialized expat home loan products.

Expats can use an expat home loan to purchase an investment property. The loan terms and conditions may vary depending on the lender, but generally, they will require a larger down payment. What’s more they may have higher interest rates compared to traditional home loans.

It’s essential to research and compare different lenders and loan products to find the best expat home loan. Additionally, you should consult with a financial advisor and legal counsel to understand the tax and legal implications of owning property in your home country while living abroad.

• Suitable for Purchase, refinance of an Investment Property
• Construction available (conditions apply)
• Must have clear credit history
• Direct credit of rental income to the loan/offset account to avoid monthly fee

Minimum & Maximum Loan Amount for an Expat Home Loan

Loan size limits and LVR parameters are listed below for cat 1 > 3 Locations only.

• LVR’s to 80% maximum loan $2,000,000

Acceptable Securities for an Expat Home Loan

• Residential & Rural Residential securities in Cat 1 >3 Locations – with a max land size of 25 acres (10 hectares)
• High Density Apartments from 50 m2 to a maximun of 70% LVR
• Residential units (with separate title) over commercial premises

Acceptable Foreign Income for Expats

All Expat borrowers are limited to the following “Acceptable Countries” list:

Tier 1 Countries: 90% Shading – Australia, Bangladesh, Canada, China, Denmark, France, Germany, Greenland, Hong Kong, India, Indonesia, Japan, Kuwait, Macau, Malaysia, Mexico, Mongolia, New Zealand, Norway, Oman, Philippines, Qatar, Russia, Saudi Arabia, Singapore, South Korea, Sri Lanka, Switzerland, Thailand, Vietnam, European Union, United Arab Emirates, United Kingdom and United States of America.

Tier 2 Countries: Shading on request – Brunei, Fiji, New Caledonia, Papua New Guinea, South Africa.

Income Documentation

2 recent computer generated payslips not more than 1 month old and letter from employer to be typed on employers letterhead, dated and signed by an appropriate representative (Payroll Officer/Manager, Human Resource Manager or Owner of the business) 90% of foreign income is considered for servicing

Identification outside of Australia

Full colour, high resolution copy of Passport (including all information pages), Drivers licence, Visa certified as a true copy by the Australian Consular Office or a local Notary Public in respective countries

Translations

A written and signed translation from a member of a recognised independent body (e.g. NAATI – National Accreditation Authority for Translators & Interpreters)

Standard Features & Versatility