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.

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 for Australians earning income in foreign currency – whether living overseas or in Australia.

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. It is important 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)
• Vacant Land available to 75% LVR
• Prime options for clear credit history applicants with bad credit options available (at higher rates and fees).
• 100% of net income used (once converted to AUD)
• Cash out to maximum LVR
• Australian citizens or Australian Permanent Visa holders living and working overseas
• Australian citizens or Australian Permanent Resident Visa holders living in Australia and earning income in overseas currency

Maximum Loan Amount for an Expat Home Loan

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

• Up to $5 million to 75% LVR on Prime Loans (cat 1 locations)
• LVR’s to 80% maximum loan $2 million on other locations and for credit impaired.

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 75% 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: Canada, China, Finland, France, Germany, Hong Kong, Italy, Japan, New Zealand, Norway, Qatar, Saudi Arabia, Singapore, Spain, Sweden, United Kingdom, United Arab Emirates, United States of America.

Income Documentation

Self-Employed: 1 year tax return AND corresponding personal NOA

Bad Credit Expat Loans

Defaults under $3,000: Unlimited up to $3,000
Defaults over $3,000: Unlimited when listed > 12 months (paid) Unlimited when listed > 24 months (paid or unpaid)

Mortgage Arrears: Up to one month within last 6 months
Other Arrears: Up to 3 months within last 3 months

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)