In the current market place, picking a quality home loan product from a secure lender is more important than ever before. From variable rate loans, fixed rate loans to combination/split loans and honeymoon rate loans, there are a myriad of home loan options available to Australian expatriates and foreign nationals. A good mortgage broker will prove essential as they can use their insider’s knowledge to find a quality home loan product and use their established relationships with secure lenders to negotiate a better finance deal on your behalf.

Home loan help

Get your Loan Market mortgage broker to help you find which home loan option is right for your particular situation. They can help you find the right home loan from a panel that includes major banks and other secure lenders and negotiate a better deal. Simply complete the brief form below or call us on +61 2 9249 3739 and we will contact you at a time that is convenient for you.

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Australian expat home loan options

Australians living and working overseas have access to the same finance options as those living within the country. From variable rate loans to fixed rate and even combination/split loans, Australian expats today have a myriad home loan options to choose from. Finding a quality finance product from a secure lender in the current market place is an important first step. Get your Loan Market mortgage broker to help you sort through the field and find a personalised mortgage management structure that is right for your unique situation.

Foreign national home loan options

Foreign nationals who intend to borrow from Australian lending institutions will find that they can generally borrow up to 80% of the property value and will be required to provide proof of how the remaining balance will be financed.

Dependant on your particular financial institutions lending policy, you may face additional restrictions with regards to income verification and stricter guidelines surrounding serviceability of your loan. Lenders may also have a policy of lending to individuals living in certain jurisdictions.

Temporary and non-residents

Temporary and non-residents who intend to borrow from Australian financial institutions will usually have on average a maximum loan to value ratio of 95% if borrowing less than $1 million or up to 80% if borrowing in excess of $1million. In simple terms, your loan to value ratio is reached by dividing your required loan amount by purchase price.

If your intention is to borrow more than 80% of the property value, then apart from covering the cost of lenders mortgage insurance you will also have to prove that you are in stable employment with strong assets and at least 3% genuine savings.

Foreign currency loans

Foreign currency loans allow Australian expatriates and foreign investors to borrow funds in a currency other than the Australian dollar. As offshore lenders are not permitted to lend to Australians resident in Australia you will often find that you will be forced to refinance upon your return to Australia. Foreign currency loans will therefore hold particular appeal to returning Australian expats who would like to save on refinancing costs and any waiting periods associated with the loan process.