Non-Resident Home Loans in Australia
With such a booming economy and so many affordable locations to choose from at the moment, it’s no wonder why there are thousands of non-residents of Australia looking to purchase a home or an investment property down under these days.
The vast majority of non-residents fall into one of these key categories:
- Australian citizens living overseas
- New Zealand citizens
- Foreign citizens living overseas
- Foreign citizens living in Australia on a temporary visa (i.e. working visa, spouse visa or student visa)
So, what’s the process for taking out a non-resident home loan in Australia? While it’s unquestionably a little trickier than a standard mortgage application, it’s certainly possible. Each bank’s lending policy will be slightly different in regards to non-resident home loans, but typically non-residents will come across the same three response types:
- Specialised credit assessment for non-resident loan applications (often with no restrictions for Australians living abroad and flexible lending policies when it comes to temporary residents)
- Restricted loan amounts available for Australian expats, temporary Australian residents and foreign investors (additional documentation may be required for your application)
- A no-lending policy for both foreign citizens and overseas borrowers (either because they are considered high-risk or because the lender’s systems are not implemented in a way that facilitates applicants living outside of the country)
Choosing the right non-resident home loan for your individual circumstances
At BFG Loans, we understand that everyone’s circumstances are different – especially when it comes to buying property while living overseas or residing here temporarily. Our experienced brokers are well-versed in helping Australian non-residents find the ideal home loan to accommodate their budget and requirements.
We’ll work closely alongside you to secure the best possible outcome from our panel of 35+ reputable lenders in Australia. As Sydney’s only social enterprise mortgage brokerage firm to specialise in home loans with a purpose, we want to help you find the most agreeable non-resident mortgage while helping another family find their new home at the same time.
50% of our profits go towards building affordable housing for families in need, at no cost to you. We call it a home for a home. The same applies when we help our customers find Australian expat mortgages, first homebuyer loans, low deposit home loans, bad credit home loans and more.
Speak to BFG Loans
Need help understanding how the buying process works for non-residents of Australia? BFG Loans will help you navigate the process and apply for a non-resident home loan in Australia. Get in touch to get the ball rolling today.