Non-Resident & Australian Expat Home Loans
Living outside Australia, earning income overseas or having a non-resident status can make an Australian property-finance enquiry more complex.
The most useful starting point is not to assume that one factor automatically determines your lending outcome.
A home-loan assessment may need to consider the complete circumstances, including residency status, income, employment, deposit or equity, existing liabilities, living expenses, credit history, property, loan purpose, proposed loan amount, LVR, valuation and applicable foreign-investment requirements.
Mortgage House can help you understand what information may be relevant to the assessment and what the appropriate next step may be.
An initial discussion or indicative assessment is not loan approval. Applications remain subject to verification, applicable responsible-lending requirements and Mortgage House’s prevailing credit criteria.
Your Residency Position Is One Part of the Assessment
There should not be one universal lending answer based solely on a customer’s residency status. Mortgage House may need to understand the complete borrower and property position.
Identity and Residency
- Passport
- Current residency status
- Relevant residency documentation
- Co-borrower details
Employment and Income
- Employment arrangement
- Income evidence
- Salary credits
- Employment history or tenure
- Self-employed financial information where relevant
- Other acceptable verified income
Financial Position
- Savings
- Deposit or available equity
- Bank statements
- Assets
- Personal loans
- Credit cards
- Other liabilities
- Living expenses
Credit Position
- Available credit information
- Repayment conduct
- Existing financial commitments
- Disclosed liabilities
Property
- Property address
- Purchase price
- Contract of sale
- Property type
- Valuation
- Owner-occupied or investment purpose
What Are You Trying to Achieve?
Purchase an Australian home
Discuss the property, intended use, deposit and broader lending position.
Buy an Australian investment property
The lending position and any applicable property-purchase requirements both need to be considered.
Refinance an Australian property
Understand your existing debt, property, objectives and current financial position.
Construct a property
Construction applications may require additional property, contract, valuation and project information.
Understand your position before applying
Start by discussing the relevant residency, income, property and financial information.
Foreign-Investment Requirements Are Separate From Loan Approval
Foreign-investment requirements can differ according to a customer’s residency status and the property they want to acquire.
Mortgage House should not make a blanket representation about whether foreign-investment approval is or is not required. Customers should check the current Australian Government requirements before committing to a transaction and obtain independent professional advice where appropriate.
Core principle: Mortgage lending approval and legal permission to purchase property are different matters.
What Documents Should You Consider Preparing?
You will not necessarily need every document listed below. The exact documentation required depends on your circumstances and the application.
Identity
- Passport
- Other required identification
Residency
- Evidence of current residency status
- Relevant residency documentation
Employment
- Employment contract
- Recent payslips or equivalent evidence where accepted
- Employer information
Income
- Bank statements showing income credits
- Taxation information where relevant
- Other verified income documentation
Deposit or Equity
- Savings statements
- Deposit evidence
- Evidence of funds
- Existing property information where equity is relevant
Liabilities
- Personal-loan statements
- Home-loan statements
- Credit-card information
- Other disclosed financial commitments
Property
- Contract of sale when available
- Property information
- Deposit details
- Valuation-related information where required
Self-Employed?
Self-employed borrowers can have financial circumstances that differ from ordinary salary-based employment.
Relevant information may include business structure, trading history, personal tax returns, business tax returns, financial statements, bank statements, business liabilities, personal liabilities, accountant- prepared information and other acceptable evidence.
Mortgage House’s existing self-employed framework assesses the broader strength of the business, verified income evidence, financial position, security and ability to meet loan commitments rather than simply whether a borrower fits a conventional PAYG template.
Understand Your Borrowing Position
A calculator may be useful as an initial planning tool. However, a borrowing estimate does not establish any of the following:
- Loan approval
- Pre-approval
- Acceptance of a particular income source
- Acceptance of a particular currency
- Acceptance of a particular country of residence
- A maximum LVR
- A final loan amount
Actual lending may require additional verification and assessment of the customer’s complete circumstances.
A Simple Path to Understanding Your Position
Tell Us About Yourself
Explain your residency position, employment, income and general financial circumstances.
Tell Us Your Property Goal
For example: purchase, investment, construction or refinance.
Provide Relevant Documents
Mortgage House can explain what evidence is relevant to the application.
Assessment
The verified application is assessed against applicable responsible-lending requirements, product requirements, Mortgage House credit policy and applicable controls.
Understand the Available Position
Where appropriate, Mortgage House can explain possible lending options, conditions, documentation and next steps.
Application Progression
Where the application proceeds, the lending journey can move through verification, credit decision, documentation, security and settlement.
Frequently Asked Questions
Does residency status alone determine whether I can obtain a Mortgage House home loan?
No. Residency is one factor within the broader lending assessment.
Does having a particular residency category guarantee approval?
No. A home-loan decision depends on the complete verified application and applicable Mortgage House lending requirements.
How much deposit will I need?
There should not be one universal deposit percentage promoted for every residency circumstance. The required contribution may depend on the borrower, property, product, LVR and current Mortgage House lending policy.
Can I purchase an Australian investment property?
Potentially, depending on the complete lending position. Lending requirements and applicable property-purchase or foreign-investment requirements must both be considered.
Can I apply jointly with another borrower?
Potentially. The complete circumstances of all relevant borrowers need to be considered.
What income documents will Mortgage House need?
The requirements depend on the application. Relevant documents may include employment information, income evidence, bank statements, taxation information and other verified financial records.
Important Information
Controlled disclosure: The information on this page is general in nature and relates to Australian home lending. It is not immigration, taxation or legal advice. Residency, foreign-investment requirements and Mortgage House lending policies can change. Customers should confirm any applicable Australian property- purchase or residency requirements with the relevant Australian Government authority or an appropriately authorised professional where required. All home-loan applications remain subject to verification, Mortgage House’s prevailing credit criteria and applicable responsible-lending requirements. Loan approval is not guaranteed.