Borrowing for Australians living overseas.
Discuss your options with our Expat Lending specialist.
Why use an Expat Lending specialist?
It’s a common misconception that it’s difficult for expats to borrow money to invest in property in Australia. Our expat lending specialist can assist you in overcoming the difficulties of investing in real estate while residing abroad. We can give you access to a wider variety of lenders offering more flexible interest rates and borrowing criteria than the major banks.
What are your borrowing options as an expat living overseas?
If you’re an expatriate residing abroad and considering investing in property in Australia, it’s essential to consult a mortgage broker experienced in expat lending. Navigating the various rules and regulations concerning foreign investment and property ownership in Australia can be quite challenging from overseas. A specialist in expat lending can assist you in overcoming these obstacles and offer you a wider array of borrowing options beyond just the four major banks in Australia, each of which has its own specific lending criteria for expatriates.
How do banks assess borrowing power when it comes to expats?
When assessing foreign earnings, banks take into account exchange rate risk, usually factoring in only 50-80% of income that is in foreign currencies. Another common issue is the calculation of household expenses. Many expats have a considerable part of their living expenses subsidised by their employers while living overseas. Nevertheless, banks often utilise the minimum household expenditure measure (HEM) to evaluate borrowing capacity. Consequently, it is crucial to consult with an expat lending expert for assistance.
What if your partner isn't from Australia?
When contemplating borrowing money to invest in Australian real estate, it’s important to be aware of the regulations governing foreign investment. You need to consider title ownership and the implications of pursuing joint ownership in any property acquisition. Foreign residents (as opposed to expatriates) who wish to buy property must take into account various factors, such as foreign purchaser’s duty, land tax surcharges, and the requirement for FIRM approval. These elements can add extra costs and complexities to the purchasing process.
How can an expat lending specialist help?
An expat lending specialist, much like a traditional mortgage broker, can help you navigate the challenges of real estate investment while living overseas. One notable benefit is their ability to connect you with a broader range of lenders who provide more flexible interest rates and borrowing requirements compared to major banks. They excel at identifying the best available deals in the market and, importantly, can assist you in securing a loan even if you’ve faced prior rejections from your bank previously.
How can a Buyer's Agent help expats find the right property?
A Buyer’s Agent can be a game-changer for experts looking to buy property in Australia. They bring deep local knowledge and a strong understanding of the market, helping you find areas with good growth potential and properties that match your goals. From property inspections to thorough research, they handle all the groundwork, so you can make confident choices even from afar. Plus, they negotiate on your behalf to get the best price, making the whole process easier, faster, stress-free, no matter where you are based.
Talk to an expat lending specialist who undertands your needs.
Avenyou can help you navigate the challenges of buying property as an expat living overseas. Request a call-back today.