Expat, Non-Resident, Over 55 — And Still Approved For $2M

A Quick Overview

From Global Careers To Australian Property Dreams

Customer A and Customer B had built successful lives overseas, with Customer A earning a high income in USD and Customer B supporting their long-term family plans. As they approached their late 50s, they began looking seriously at Australia as a cornerstone for their investment future. Their goal was to secure a pre-approval for an Australian investment property that would provide stability, growth, and long-term wealth planning.

With a strong financial position, substantial savings held both locally and overseas, and a clear vision for the future, they were well prepared, but their circumstances were far from straightforward.

The Roadblocks Along the Way

At first glance, this was a strong application: a $2,000,000 loan secured against a $3,000,000 property, giving a conservative 66.67% LVR. However, beneath the surface, the deal was far more complex.

Key complexities included:

• The applicants had mixed residency status, with one Australian citizen expat and one non-resident British citizen, placing the loan firmly within non-resident investment policy, where lender options are limited and credit assessment is more conservative.
• While both applicants were borrowers, only one was listed on the property title, a structure accepted by very few lenders and requiring careful justification.
• Household income was derived from a single overseas source in USD, triggering conservative income shading and heightened currency-risk scrutiny.
• The second applicant, although not currently working, remained on title, increasing serviceability and policy sensitivity without contributing income.
• At ages 58 and 59, the applicants requested a 30-year loan term, extending well beyond standard retirement age and necessitating a clearly articulated exit strategy to satisfy lender policy.

Although the clients were financially strong, bringing all of these elements together in a way that met lender requirements required careful structuring and choosing the right lender.

Strategy And The Right Lender

Home Loan Experts Mortgage Broker Prakash Rai reviewed multiple lenders before selecting the one best suited to the clients’ circumstances. Rather than forcing the application into a narrow policy box, he approached the deal from a lender’s perspective, focusing on risk, clarity, and long-term sustainability.

To overcome the challenges, he:

• Selected a lender comfortable with mixed residency and working with borrowers aged 59 and 58
• Structured the application with the Australian citizen on title to satisfy policy requirements
• Treated overseas income conservatively to allow for currency fluctuations
• Strengthened the deal with a low loan-to-value ratio and a strong overall asset position
• Clearly set out multiple exit strategies, including access to superannuation and the option to sell assets if required
• Chose loan features that supported long-term investing while allowing for steady debt reduction

Every element was thoughtfully aligned with lender policy and designed to support the clients’ long-term plans.

A Confident Step Forward

By the time everything was finalised, Customer A and Customer B felt genuinely relieved and pleased with how smoothly the process had unfolded. What first felt complex was guided carefully from start to finish, giving them confidence at each step.

The outcome was a $2,000,000 home loan, providing the clarity and certainty they needed to move ahead with their Australian investment plans. The loan was structured at 5.49% variable, Principal & Interest, and included practical features such as a 100% offset account, redraw facility, and the ability to make extra repayments, giving them flexibility as their goals and circumstances evolve.

Ready To Buy A Home?

If you’ve been told your loan is too complicated because you’re an expat or non-resident, it doesn’t mean the answer is no. Often, it simply means you need a broker who understands your income, your goals, and which lenders are willing to support your situation.

Call us on 1300 889 743 or fill in our free online assessment form for clarity, confidence, and expert help.