Australia’s relatively strong economy and the growing property market have served to lure back Australian expatriates and seen an upsurge in the number of foreign nationals seeking to purchase property in the country. And with the number of home loan options available in the market today, most are turning to mortgage brokers to help them navigate the home loan market and find quality finance products from secure lenders.

Negotiate a personalised home finance package

With a panel of lenders that includes major banks and other secure lenders, your Loan Market mortgage broker has the established relationships and insiders knowledge that will prove essential in negotiating a more personalised finance package. To find out what your home loan options are simply complete the brief form below or call +61 2 9249 3739 and we will contact you at a time that is convenient for you.

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Owner Occupied Purchase – Australian Expatriates

Finding a suitable property from overseas can be easy if you know who to ask. Real estate sites such as Ray White Residential Property Search provide you with a comprehensive list of properties and access to local real estate agents who can help ease the home finding process. Some Australian expats will start by purchasing an investment property in an area that they are interested in residing and move in upon their return to Australia.

Owner Occupied Purchase – Foreign Nationals

Foreign interests intending to make an owner occupier purchase in Australia are classified under 2 categories by the Foreign Investment Review Board (FIRB), that is foreign nationals (individuals) and foreign companies:

Foreign nationals residing in Australia, holding a current temporary resident visa that permits continuous residence in Australia for a period of 12 months from the time of application may make an owner occupier purchase. In this instance, the property must be used as their principal place of residence and not for rental purposes, and must be sold immediately when their visa expires, they no longer reside in the property or when they cease to reside in Australia.

Persons who hold visitor or bridging visas are not eligible for approval under this category.

This category includes students 18 years of age and over studying courses of more than twelve months duration at recognised tertiary institutions.

A general limit of $300,000 applies to the value of properties acquired by these students.

Unless there are special circumstances, foreign companies normally will not be permitted to buy more than two dwellings under this category

Foreign companies would not be eligible under this category where the property would represent a significant proportion of its Australian assets.

Foreign companies with a substantial Australian business may purchase property for named senior executives to reside in, if the said executives are continuously resident in Australia for periods longer than 12 months. A company’s eligibility for this category and the number of properties it may acquire will depend upon the scope of the company’s operations and assets in Australia.