Home Loans For Australians Living in Singapore

If you are an Australian expat living in Singapore, securing a property loan back home is entirely possible with the right guidance.

You could snag a loan worth up to 90% of the property value depending on your residency status. Whether you are juggling dual citizenship or earning Singapore dollars, specialized brokers can assist in navigating the application process.

How Much Can I Borrow As An Australian Expat?

If you are an Australian citizen in Singapore, you may be able to borrow up to 90% of the property value.

Australian permanent residents in Singapore may be able to borrow 80% of the property value and may also get the same interest rates as an Australian citizen.

Some lenders will use the tax rate of Singapore, as opposed to Australian tax rates, which can greatly improve your borrowing power.

Loans available for purchase, refinance, investment property or to buy a house and land package.

Eligibility Criteria For Australian Expats Getting A Mortgage In Australia

Many Australian expats worry they’ll face higher rates or stricter lending rules simply because they’re living overseas.But that’s not always the case.

Barring a few benefits of being in Australia, you get almost the same treatment. Here’s what you need to know:

1. Citizenship And Residency Status

If you’re an Australian citizen living in Singapore, you’re generally treated the same as a resident borrower. However, complications can arise if:

• You hold dual citizenship
• You’re married to a foreign national

The property will be jointly owned with a non-Australian citizen. Some lenders may classify the application as foreign, which can reduce your maximum Loan-to-Value Ratio (LVR). Choosing a lender that understands expat scenarios is crucial if you want to borrow at the highest possible LVR.

2. Foreign Income Assessment (Singapore Dollars)

If you’re earning in Singapore Dollars (SGD), many lenders will assess your income using favourable policies. Some banks will even apply Singapore tax rates instead of Australian tax rates when calculating your borrowing capacity. This can significantly increase how much you’re able to borrow.

However, documentation is critical.If you cannot provide sufficient proof of income like:

• Recent payslips
• Employment contract
• Tax returns or Notice of Assessment

You may be limited to borrowing up to 80% of the property value so, the stronger and clearer your income evidence, the better your borrowing position.

3. Maximum Loan-to-Value Ratio (LVR)

Your maximum LVR will depend on:

• Currency
• Lender policy
• Citizenship structure
• Income documentation

Well-structured expat applications can often achieve high LVRs, but poorly positioned applications may be capped at 80%. This is why lender selection matters.

4. Living Expenses (Including School Fees)

Singapore has a private schooling system, and lenders will include school fees as part of your living expenses when assessing serviceability. If you have children in private schools, this can affect your borrowing capacity. Being upfront about these costs helps avoid surprises during assessment.

5. Power Of Attorney (POA)

Some banks require a Power of Attorney (POA) when you’re applying from overseas.

This is typically granted to:

• A solicitor
• A trusted family member

Not all lenders require this, but it’s important to understand the process early so it doesn’t delay settlement.

Which Lenders Can Help With Australian Expats In Singapore?

This calculator helps determine if you qualify for an expat home loan. It assesses the policies of our lenders to show you who might approve your mortgage to buy property in Australia.

What Do The Banks Think Of Singapore Dollars?

If you’re earning an income in Singapore dollars (SGD), there’s a good chance that we can help you get approved for a mortgage in Australia.

Not all lenders will accept 100% of your foreign income but we know a few lenders which accept 100% of your SGD income.

Singapore is a thriving regional business hub so it’s common for Australian expats to be working for large multinationals that may not originally be from Singapore and pay salaries in different currencies.

Many Australians living in Singapore may be earning an income in US dollars (USD), Great Britain Pounds Sterling (GBP) or even Euros.

Other types of currency may be accepted on a case by case basis so check out the Australian expat mortgage page for more information.

In 2012 alone, there were over 20,000 Australians living and working in Singapore. So, you can expect a spike in this number by now.

What Other Factors Should Australian Expats In Singapore Consider?

Australian expats are often put in a difficult position because of certain lending requirements set by Australian lenders. Common problems that Australian expats living in Singapore face include:

• Banks that ask you for your original payslips, tax returns and other documents prior to loan approval.
• Lenders that don’t have a loan processing system designed to handle foreign addresses or foreign phone numbers which can cause significant delays in the loan approval process.
• Lenders that don’t approve home loans that are above 80% LVR (Loan to Value Ratio).
• Banks that need you to sign a formal loan offer at the nearest Australian Consulate by the lender.
• Lenders that don’t accept Power Of Attorneys (POAs), a legal agreement that allows the attorney or agent to take legal actions on their clients behalf.

Fortunately, mortgage brokers at Home Loan Experts know exactly which lenders are favourable to Australian expats in Singapore. We are ready to help you through the process of home loan application – all the way through settlement and beyond!

Call us on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) or complete our free online assessment form to get a free assessment today.

Apply for a home loan as an Aussie expat!

Our mortgage brokers specialise in Australian expat mortgages!

With access to an extensive panel of 50-plus lenders, we’re well-equipped to negotiate the best possible deal for you.

But that’s not all. Our services are absolutely free, allowing you to focus on your dream home without worrying about additional financial burdens.

Why wait? Give us a call at 1300 889 743 (or +61 2 9194 1700 if you’re outside Australia) or fill in our free online assessment form to connect with our passionate team.