Foreigner Home Loans - Non Resident Home Loans in Australia

DID YOU KNOW: Home loans are available for foreign citizens currently staying in Australia. But the interest rates are usually high compared to mortgages available for permanent residents and Australian citizens. Few lenders in Sydney are offering loans for non-residents because the process is often complicated and foreign borrowers are considered high risk.

Non-Resident Home Loans Australia: How It Works

Foreigners may qualify to borrow up to 70% of the total price of an Australian property with interest rates between 6% to 8% per annum. But if you have a high net worth and you are earning a primary currency you may borrow up to 55% at interest rates lower than 5% p.a. Primary currencies include:

  • Australian Dollar (AUD)
  • New Zealand Dollar (NZD)
  • United States Dollar (USD)
  • European Union Euro (EUR)
  • Great British Pound (GBP)
  • Japanese Yen (JPY)
  • Canadian Dollar (CAD)
  • Danish Kroner (DKK)
  • Swedish Krona (SEK)
  • Singaporean Dollar (SGD)
  • Swiss Franc (CHF)
  • Hong Kong Dollar (HKD)
  • Chinese Yuan (CNY) - Subject to conditions

If you are not earning a primary currency, some lenders will still consider your mortgage application but you may have to provide a bigger deposit and the interest rate can go as much as 10% p.a.

Some banks offer favourable terms for foreigners who already own an Australian property, have very high income and are only borrowing less than 60% of the property value.

If you are married to an Australian citizen, you can also borrow more at lower rates.

Do you need government approval for foreign mortgage loans?

Yes, the Australian government through the Foreign Investment Review Board requires non-residents to lodge their application for approval before they can buy any real estate property in Australia.

New Zealand citizens and permanent residents are exempted to undergo this approval process.

SYOM Can Help

Getting a non-resident home loan in Australia can be complicated if you do it alone.

It is ideal to work with a mortgage broker who has experience dealing with loans for non-residents in Australia.

You may contact Shop Your Own Mortgage so you can start the initial process.

We’ll let you know if you are eligible for a mortgage then arrange the required paperwork for you and seek pre-approval from shortlisted lenders in Sydney.

For immediate assistance, you may call us on 1 300 256 081 or send an email to hello@syomortgage.com.au