Are Chinese investors allowed Australian mortgages nowadays?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
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Re: Are Chinese investors allowed Australian mortgages nowadays?

Post by Otto Dargan »

Hi Lei,

Yes, unfortunately major banks of Australia here have recently pulled out of lending to foreign investors altogether. This is mainly because of the growing concerns about accurately verifying income. However, there are some specialist lenders that still offer mortgages for Chinese investorsalthough the lending policy can be a bit tough.

You may be able to borrow up to 70% of the property value for loans up to $1 million. However, please note that you may be able to borrow up to 95% of the property value if you’re married to an Australian citizen.

Our best lender can accept up to 90% of your Chinese Yuan income. You’ll need to provide two forms of income verification such as recent payslips and an employment letter. Also note that slightly higher interest rates may apply when applying with a specialist lender.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Are Chinese investors allowed Australian mortgages nowadays?

Post by Otto Dargan »

Hi Lei,

If you earn business income from China then it can be tough to qualify for a mortgage but not impossible. With one of our specialist lenders, you may still qualify if you’re able to provide any two of the following:
  • 2 years’ personal and business tax returns or Notices of Assessment.
  • 6 months’ business bank statement.
  • An accountant’s letter to verify your income.
If your statements are in Cantonese or Mandarin, don’t worry. Lenders have credit officers that can translate your statements into English.

When buying a property as a foreign national, you need to seek approval from the Foreign Investment Review Board (FIRB).

It’s best to speak with us to find out if you qualify as a self-employed non-resident applicant. Please call us on number +61 2 9194 1700 or 1300 889 743 if you're in Australia. You can also simply complete our free assessment form. We have mortgage brokers that speak Mandarin as well as Cantonese, so it’ll be easier for you.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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