Non-Resident Mortgages
We can help you get approved by building a strong application with the right lender.
Exploring Non-Resident Mortgages in Australia
Unlocking Homeownership for International Buyers
- For foreign citizens residing outside Australia, securing a home loan often means facing interest rates as high as 8.00% p.a.
- Every year, a significant number of foreign nationals, Australian expatriates, and temporary residents make the decision to invest in Australian real estate, either as a home or an investment property.
- This segment aims to provide insights into the property acquisition process and how our services can assist you in pursuing a non-resident mortgage in Australia.
Crucial Information You Need to Navigate Property and Loans
Understanding Property Investment:
- Begin your journey by learning about the process of buying property in Australia.
- Familiarize yourself with the specific guidelines governing foreign investments in Australia.
- Please note that depending on your individual circumstances, you might require approval from the Foreign Investment Review Board (FIRB).
Access to Home and Investment Loans:
- Diverse home loan options are available to cater to various borrower profiles, whether you are a New Zealand citizen, an Australian expat, or a foreign national residing in Australia or overseas.
- Australian citizens living abroad
- Australian permanent residents (PR)
- New Zealand citizens
- Foreign citizens living abroad
- Foreign citizens residing in Australia with working visas
- Foreign citizens residing in Australia with temporary visas
- Foreign citizens residing in Australia with spouse visas
- Foreign citizens residing in Australia with student visas
Determining Your Borrowing Capacity:
- In most property transactions within Australia, it is common for borrowers to secure loans up to 80% of the property’s value.
- However, some situations may allow for borrowing up to a maximum of 95%, contingent on your place of residence, citizenship status, and visa conditions.
- To explore your eligibility for a loan exceeding 80% LVR, connect with our specialist mortgage brokers by calling 1300 401 847 or submitting an online inquiry. Our experts will reach out to you to evaluate your circumstances.
Comprehensive Features of Non-Resident Mortgages:
- Encouragingly, select Australian banks extend identical home loan features and interest rates to non-residents as they do to conventional borrowers.
- Key Features Include:
- Minimum loan size: $100,000
- Maximum loan size: Variable based on your location
- Maximum LVR: Subject to your unique situation
- Interest-only period: Up to 15 years
- Fixed-rate loan terms: Up to 12 years (15 years for Australian Citizens)
- Loan term: Maximum of 30 years
- Professional package discounts: Accessible
- Construction home loans: Available
- Extra repayments: Permissible
- Redraw facilities: Accessible
- 100% offset accounts: Available
- Internet banking: Supported
- Phone banking: Available, though international calls may incur fees
- While these features can vary between lenders, our dedicated mortgage brokers are adept at matching you with a suitable loan that aligns with your non-resident status and aligns with your specific needs.
- For personalized guidance, get in touch with us at 1300 401 847 or initiate an online inquiry.
Noteworthy NSW Surcharge Purchaser Duty Updates for Foreign Buyers in 2023:
- Effective immediately due to international tax agreements, purchasers from the following countries no longer need to pay surcharge purchaser duty in NSW:
- New Zealand
- Finland
- Germany
- South Africa
- Japan
- Norway
- India
- Switzerland
- Revenue NSW will proactively reach out to eligible customers who paid surcharge purchaser duty on or after 1 July 2021, offering refunds.
- To access further details, please visit the official NSW Government website.
How Banks Evaluate Foreign Investors
Diverse Bank Perspectives:
- Bank lending policies for non-resident home loans can significantly vary from one financial institution to another.
- Generally, banks adopt one of three primary stances when considering applications from non-residents:
- Outright Decline: Some lenders perceive foreign citizens or overseas borrowers as high risks. Alternatively, their systems may not accommodate customers residing outside Australia, leading to an outright denial of such applications.
- Lending Restrictions Apply: Certain lenders accept Australian expats, temporary residents, and foreign investors. However, they may impose limits on the borrowing amount or request supplementary supporting documentation.
- Specialized Lending Criteria: A select group of lenders actively seek non-resident clients. They maintain dedicated credit teams to evaluate non-resident applications and operate 24-hour call centers to assist overseas clients. These lenders typically offer more flexibility for Australian citizens living abroad and have accommodating lending policies, particularly for temporary residents, such as 457 visa holders, 309/310 visa holders, and TSS visa holders.
Selecting the Right Lender:
- Choosing the appropriate bank is paramount to the success of your application. Our mortgage brokers specialize in assisting new migrants, Australians residing overseas, and foreign investors.
- We can thoroughly evaluate your application and align it with a lender who is likely to provide initial approval. Contact us at 1300 401 847 or submit an online inquiry, and one of our mortgage brokers will connect with you to discuss potential mortgage options.
Invest in Australian Real Estate:
- With a thriving economy and affordable property opportunities, numerous foreign investors are venturing into the Australian real estate market.
- If you are considering purchasing a property in Australia from overseas, our mortgage brokers can offer valuable guidance.
- We can provide insights into your prospects of securing financing and assist you in applying with the most suitable lender.
- Upon acquiring your investment property, you may choose to engage the services of a real estate agent to aid in finding suitable tenants for your property.
- Furthermore, it is advisable to visit the Foreign Investment Review Board (FIRB) page to determine if government approval is required for your Australian property purchase.
- To connect with non-resident mortgage experts, dial 1300 401 847.
Why Opt for Our Services?
- A higher number of Australians employ mortgage brokers to secure home loans compared to other methods.
- Notably, Home Loan Experts stands as a specialist in non-resident lending, setting us apart from many other Australian mortgage brokers.
- We can efficiently identify the most favorable mortgage solutions from the major accredited lenders we collaborate with.
- Additional reasons to reach out to us:
- Most of our services are provided free of charge.
- Our accreditation extends to over 40 major banks and non-conforming lenders.
- Our mortgage brokers possess expert knowledge in non-resident home loans.
- Our affiliation with MFAA and AFCA underscores our unwavering commitment to upholding the highest ethical standards in the industry.
Connect with Us Today!
Whether you are residing overseas or have already migrated to Australia, our assistance is available. Navigating the loan application process and purchasing property in another country can be intricate.
Our seasoned mortgage brokers are equipped to guide you through these intricacies, swiftly identifying banks that offer the most favorable interest rates, terms, and conditions.
To explore how we can be of service, please initiate an online inquiry or call us at 1300 401 847.
Related Topics
Why Choose Clear Pacific Capital?
Our Services
Our Approach to Finding the Ideal Solution for You
We begin by gaining a comprehensive understanding of your current circumstances and your long-term objectives. Our process is designed to provide you with a tailored recommendation, and it's as simple as following these few steps:
1
Start by filling out our free assessment form or giving us a call.
2
Our team will carefully evaluate your unique financial situation.
3
We thoroughly examine the various options available through our network of trusted lenders.
4
The end result? We'll pinpoint the most fitting and advantageous home loan offers for you.
Clients Love
Testimonial
Highly recommended. Irfan is an incredibly knowledgeable and professional broker. Irfan was able to help us every step of the way in our journey to buying our first home.
Lesile Morgan
95% of our borrowers get a discount below the bank standard variable rate
