Expat Home Loan

...That Most Lenders & Brokers Don't Know!   

Temporary Residents click here

I am amazed that lenders and other mortgage brokers continue to promote that Australian Expats buying property in Australia from overseas can only borrow up to the value ratio (LVR)  of 80% for a home loan.  In many circumstances 80% is not sufficient for expat and temporary resident borrowers.  I am confident that our knowledge and experience will provide you with the right information and allow you to consider all your options and find the right lender.  Craig Vaughan, Director Map Mortgage Brokers.

The following table provides a high level summary of our maximum lending ratios 

Borrower Type                                                          Max Lending

Recent Australian Expat Mortgage Applications from the following overseas locations: Singapore; Dubai, UAE; London, UK; Hong Kong and Shanghai, China;   Jakarta, Indonesia; Texas, USA; Wellington, NZ.  We can assist wherever you are living and working abroad.

More information on foreign currency loans

More information on temporary resident loans.

 Wind the clock back 6 years...  I was living with my wife in the UK.  We both had good incomes and could have easily afforded to buy one or two properties in Australia, while continuing to live the good life.  Better still, have someone else pay most of the mortgage.  But for the following 2 factors, things might have been different:-

1. As Australian Expats, how do you find and buy property in Australia when living overseas? 

This issue is now solved by realestate.com.au, Domain.com.au, Buyer Agents and purchasing house and land packages.

2. How to know which lender best caters for expat and overseas borrowers & contact that lender? 

We did not know where to start, what were the critical factors to consider, and did not have the time to do the research while living overseas.  Issue now solved: MAP knows precisely what lenders will lend to expat Australians living overseas and non resident borrowers and takes care of all the communication with the bank so you don't need to.

MAP has assisted Australian borrowers from all around the world to purchase property in Australia or refinance existing home loans in Australia.  Australian Expats use MAP because we are unique in the Australian Market, specialising in finance for Australian Expat borrowers.

Being an Australian expat should not stop you from achieving the Australian Dream and buying a property in Australia.  With your higher overseas income plus Australian rental income, tax benefits and numerous lending options, our free loan quote could be the start or expansion of your Australian property portfolio. 

As an Australian living overseas there are some great tax benefits available to you.  One of these benefits is the ability to obtain some great advantages from negative gearing even though you are not earning AUD.  As an expat, if your property is negatively geared then the shortfall or loss can be deferred until such time as you are working in Australia earning AUD.  This is a fantastic benefit and often overlooked by expats on the their return if their accountant is not aware of these rules.

MAP can take care of your Australian Expat tax return every year while you are overseas for a nominal fee.  Having your tax return done every year you are away can amount to huge savings if/when you return to Australia and start earning AUD.

Some feedback we received from existing clients through our rate our service page was that we should provide some case studies or examples of recent clients we have helped. The idea is to give you as much information as possible on the process, hurdles involved, example of fees and charges, repayments and just a general overview of what an expat should expect when buying a property from overseas.  We have provided a number of case studies based on real expats we have helped with a wide variety of different circumstances and objectives.  Find the case studies here.

**Please also review Our Blog page which has many relevant articles explaining different mortgage features available.

Q. How can MAP organise a loan over 80% when no one else can? 

A. MAP specialises in loans for Australian Citizens and Permanent Residents living and working abroad. Most brokers do not specialise in mortgages for expats and therefore have not invested their time to investigate all possible lending options.  

Q. When borrowing over 80% does the lender/s vary their products, interest rates or fees?

A. There is no differentiation between products and rates when lending over 80%.  The only difference is that lenders mortgage insurance is charged when borrowing over 80% which would be charged whether you were living in Australia or not.   

Q. Will my interest rate or fees be higher because I am an expat?

A. No. The only difference is that you have a limited number of lenders to choose from when you are living and working overseas. The interest rate will be exactly the same with those lenders regardless of your residency status and you will find that they are very competitive and have some of the cheapest rates on the market.

Q. What is the Maximum loan to value ratios I can borrow?

A. Up to 95%. To calculate the loan to value ratio (LVR/ LTV) divide the required loan amount by the purchase price.

Q. Why is it difficult to borrow over 80% even though I am in stable employment etc?

A. Australian lenders have to comply with the policies and guidelines set by their lending mortgage insurers.  Most standard loans are insured when the Loan to Value ratio (LVR) is greater than 80%.  It is therefore  the mortgage insurers who have imposed the strict lending criteria when the lvr is greater than 80%.

Q. How often do I pay Lenders Mortgage Insurance (LMI)?

A. Once.  LMI is deducted at time of settlement and is, in most cases, added to the loan so you do not need to pay for it upfront.

Q. What are the main requirements for lending over 80%?

A. An applicant must be in stable employment; preferably in a profession; with a strong asset to liability position and 5% genuine savings. 

Q. What costs must I cover?

A. Costs can be divided into 3 main areas

i. Lender - application fee and lenders mortgage insurance

ii. Government - mortgage registration, land transfer, stamp duty on the purchase price and possibly the loan amount

iii. Miscellaneous - legal (solicitor / conveyancing), building and pest, home insurance etc.

Q. Can the lenders mortgage insurance be added on to the loan?

A. Yes, in the majority of cases.  

Q. Can I apply for the First Home Owners Grant?

A. Possibly provoding you plan to move back to Australia within 1 year and reside in the property for at least 6 months. 

Q. What does MAP charge for this service?

A. MAP does not charge clients for our service.  MAP receives a commission from the lender should your loan settle.  Please note that using our services does not impact the fees or rates charged by the lenders.

• Complete our Quick Enquiry form for a FREE Quote (Top right of Page)
• Email enquiry@mapmb.com
• Call now 1300 397 287 or skype 
• Complete an application form and email to enquiry@mapmb.com (note, this is not a formal application for finance but simply allows MAP to determine more accurately the options available to you.