The criteria for a non resident loan is very confusing. The banks have tightened and changed their criteria for this type of lending but there are lenders who are still interested in this type of lending. 

• Borrow funds in Australian dollars to purchase an Australian investment property
• Available to foreign investors and Australian expatriates living overseas
• Australian expatriates can apply to borrow up to 90% LVR of the value of the property, subject to lender terms and conditions.
• Foreign investors up to 80% LVR subject to lender terms and conditions.
• Choice of Home Loan lenders.

 What is a non-resident?

 Non-residents can be either:

• Australian citizens
• Australian permanent residents living overseas – or-
• Citizens of foreign countries that are not permanent residents in Australia.

Can non-residents buy property in Australia?

Yes, non-residents can buy property in Australia. However, before purchasing any property in Australia, foreigners must have approval from the Foreign Investment Review Board (FIRB).

Home loans for non-Australian residents

As a non-resident, you could get a non-resident home loan from an Australian bank for the purchase of Australian property. Foreign nationals, Australian expats and temporary residents are all able to purchase Australian property and get a mortgage from an Australian bank.

Your circumstances will determine the:

• type of property you can purchase (new, existing)
• lenders that will approve your mortgage application;
• types of mortgage you can get (owner occupied home loan, investment property loan); and
• terms and conditions of the home loan.

 Are you on a non-resident and need help with your Australian home loan?

Contact us to get your non-resident mortgage application started