Expat Foreign Owner Loans

Can an Australian Citizen living outside of Australia borrow?

Indeed, an Australian Citizen can take out a home loan, based on their income, provided the income currency type meets the requirements of the lender used. We have seen a growing number of Australian Citizens living and working abroad (Australian Expats) over many years. As an Australian Expat, you are not limited to investment options back home just because you are living overseas.

In fact, thousands of Australians living abroad continue to invest in the Australian property market.

Securing a home loan or refinancing an existing loan does not have to be a difficult process. Our mortgage brokers specialize in Australian Expat home loans and refinancing, making it very easy to secure your future. As an Australian expat, you need not be concerned about government approval before applying for a loan. As an expat, you are still an Australian citizen. As an experienced mortgage broker, we can often negotiate a better finance deal on your behalf as your borrowing capacities will vary between lenders. .We understand that each client has different needs and so we deal with a wide range of lenders to ensure we cater all your needs. To have an evaluation of how much you can borrow complete the online inquiry form and you will be contacted at a time that is convenient for you.

Accepted currencies

The currencies that lenders accept change along with the financial market. Other factors may play a part as well and often lenders’ decisions will change depending on the circumstances.

Intellichoice senior adviser was contacted by a man living in South Africa who had been rejected for a loan by some bank institutions. He worked for Remgro and was based wherever Remgro assigned him for work but was paid in Euros. Because South Africa is deemed a risky country, the man’s employment was deemed risky.

“He lives in South Africa, spends South African Rand currency but the majority of his income is Euros paid into a UK bank account – so there was no risk currency rise,” says senior adviser “Normally the lender has a list of acceptable currencies. If the client was paid in South African Rand currency I would agree with the lender, but he is paid in Euros. So it’s not always clear-cut. You need to pay attention to exchange rates and fees.

You will have a better chance of getting approved for a home loan if you receive your income in the following currencies:

• United States Dollar (USD)
• Great Britain Pounds Sterling (GBP)
• Euro
• Singapore Dollar (SGD)
• Canadian Dollar (CAD)
• Hong Kong Dollar (HKD)
• Japanese Yen (JPY)
• Swiss Franc (CHF)
• New Zealand Dollar (NZD)

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