You’ll be considered as a foreign investor when buying a property in a country you’re not living in. You can find out our foreign investor page and get more information.
Getting a home loan in Australia is very similar to getting a loan in the UK. British citizens face restrictions from Australian lenders and the Foreign Investment Review Board (FIRB).
These guidelines are required for non-resident or temporary visa holders:
- The property you purchase must be newly built. i.e. no one has lived there before.
- Australian Lenders will only lend a max of 80% LTV or LVR (Loan to Value Ratio in Australia). This means you will require at least a 20% deposit plus extra funds for stamp duty.
- Australian banks prefer properties located in major cities and their surrounding suburbs.
- You’re legally required to get approval from FIRB to buy a property in Australia.
Buying a property as a foreign investor for the first time can be very confusing.
You can call us on +61 2 9194 1700 or simply fill in our free assessment form and we can help you apply for a loan with an Australian bank.
Cheers,