Hassle Free Expat Mortgages, At Home and away

Most lenders and banks prefer that your are an Australian Citizen or permanent resident visa holder there are a few lenders who will consider your application if you are a foreign applicant with neither of the above two variables but the rates charged will be considerably higher.

Yes – most of the majors are well setup to accommodate with your proposed mortgage application while you are living and working abroad. Sometimes this can be a timing issue and we help many Aussie expats who are living overseas and who are looking to buy a family home or investment before they return home.

The list of lenders who will accept foreign income changes from time to time but its safe to say that this list is pretty extensive. What can narrow down the list is what  currency your foreign income is earned in, how your remuneration payment is structured (most lenders won’t accept self employed expats but there are still some options) and how much lending you are seeking.

Yes – being pre approved will greatly reduce the chances of any last minute surprises. We always highly recommend Australian Expat borrowers secure a properly structured pre approval before making the commitment to purchase a property in Australia. It is also very important that any short listed property is run past your broker or lender before you purchase even if you are pre approved because these can be restrictions on postcodes, maximum loan sizes and LVR’s (loan to valuation ratios) when you are an expat borrower even if you have pre approval.

There are generally not too many restrictions on the type of property you can buy as an expat borrower. Properties that lenders are prepared to lend against are usually on restricted if the property has some commercial variables to it, is in a non acceptable postcode location, is too small in size or has some other out of the ordinary variable to it. If in doubt ask us for a quick sense check to ensure your don’t risk your hard earned deposit.

Borrowing money when abroad is never as straight forward as being a domestic borrower but with years of experience in helping expat borrowers we have built streamlined process that help you get approved sooner as with less stress. Just some of the benefits include automatic online booking platforms auto adjusted to both our time zone availabilities, on demand video recorded summaries of recommended options and structures for time poor professionals and smart secure two way client fact find processes and data gathering that enable both new and existing clients to move their applications forward quickly and with a minimum of fuss. Above all you have a dedicated and highly experienced broker looking after your file. No newbie graduate recruits will be telling you how to setup your investment lending portfolio!

Buying a property back here in Australia will often require the transfer of a significant amount of funding from overseas so you want to make sure that you do not receive a haircut on a bad forex transfer!

At Axton Finance we maintain a trusted relationship with the highly regarded team at TorFX who are able to offer rates that are often more competitive than using a big bank directly. Get a free quote and learn more about TorFX who are an AFS licenced financial services business.