Last Updated: 30th April, 2024

How much can I borrow?

  • Borrow up to 90% of the property value as an Australian citizen or permanents resident (PR) living in China.
  • You can qualify for the same interest rates as an Australian citizen.
  • Some lenders will use the tax rate of China, as opposed to Australia tax rates, which can improve your borrowing power.
  • Self-employed borrowers may be able to borrow up to 80% of the property value with one of our lenders and we have at least one that will use 90% of your net income rather than gross income.
  • Loans available for purchase, refinance, investment property or to buy a house and land package.
  • If you’re a dual citizenship holder or you’re married to a Chinese citizen, some lenders may treat you as a foreigner which means that choosing a lender that favours expats is essential to getting approved.
  • If you’re earning Chinese Yuan (CNY) or Renminbi (RMB) but you can’t provide sufficient documents to prove your foreign income, such as recent payslips, or tax returns, then you may be limited to borrowing up to 80% of the property value.
  • A Power Of Attorney (POA) in the name of a solicitor or family member is required by some banks.

Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free online assessment form to speak with one of our mortgage brokers who can help you get approved with the right lender.

Foreign income mortgage calculator

Discover if the bank will accept your foreign income.

Disclaimer: This calculator has several assumptions and simplifications and so should be used as a guide only. Please seek independent financial advice and consider your own circumstances before making any decisions related to home loans.

Can I use Chinese Yuan (CNY) for mortgage repayments?

Yes! The Chinese Yuan (CNY) or Renminbi (RMB) is on the approved list of acceptable currencies for mortgages for Australians living in China.

CNY or RMB is one of the strongest performing currencies in the world thanks to China’s population, manufacturing industry, as well as its growing middle class.

Luckily, you may still qualify for a home loan in Australia even if you’re earning in a currency other than Yuan/Renminbi and it falls outside the list on the Australian Expat Mortgages page.

Note that lenders usually have some restrictions and conditions in place including limiting your borrowing capacity to 80% Loan to Value Ratio (LVR).

What do I need to prove my income in China?

Mortgages for Australian expats in China can be taken out using the same documents as borrowers in Australia applying for a home loan to prove their income.

If you’re borrowing more than 80% LVR, you can prove your income through:

You can even prove your income through a letter from your employer as long as you’re borrowing less than 80% LVR.

My financial documents are in Mandarin / Cantonese!

If your financial documents are in Mandarin, Cantonese or any other foreign language, you may need an interpreter’s certificate as some lenders won’t accept documents that aren’t written in English.

An interpreter’s certificate is an official and certified document that translates the original financial document to English.

The simplest way to get an interpreter’s certificate may be through the Australian Consulate in China.

However, you can also send us in your documents directly since some of our mortgage brokers are fluent in Mandarin and Cantonese.

Get competitive interest rates and home loan features!

An Australian expat in China is still an Australian citizen!

Not only can you get competitive interest rates, you have access to all of the same home loan features that are available to a typical Australian borrower, including:

Call us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) or fill in our free online assessment form and mortgage broker who are specialists in mortgages for Australian expats in China can help you get a competitive interest rate and select the right features for your situation.

Do I need to have genuine savings?

Australian banks and lenders will want Australian expats in China to have a deposit of at least 5% of the purchase price that has been saved as genuine savings.

The most common source of genuine savings are savings or term deposits held for 3 to 6 months in a bank account.

However, if you have a large deposit then you may not need to prove genuine savings. Also, some lenders can consider the equity from an existing property that you already own in Australia as part of your deposit.

No deposit home loan solutions are available!

Since banks consider Australian expats in China just as any normal Australian resident, you have the option of considering no deposit home loan solutions as well as no genuine savings loans.

Certain professionals can even get waived LMI!

Lenders Mortgage Insurance (LMI) is a one off fee that’s generally charged by the lender if you’re borrowing more than 80% LVR (60% LVR for a low doc loan).

LMI can be thousands of dollars!

There’s good news if you’re an Australian expat working in a professional field in China!

Banks prefer lending money to particular professionals. Banks offer them significant interest rate discounts and even completely waive the cost of LMI!

The main professions eligible for waived LMI are:

Call 1300 889 743 (+61 2 9194 1700 if you’re overseas) or complete our free online assessment form to find out if you qualify for waived LMI as an Australian expat in China.

How does Australian tax law come into play?

The following is general information and must not be constituted as tax advice. It is recommended that you speak with an accountant or a tax adviser before you plan to buy or invest in Australian property.

In 1988, Australia and China signed an agreement for the Avoidance of Double Taxation.

What this means is that if you buy property in Australia, you’ll only have to pay tax to the Australian government and not to the Chinese State Administration of Taxation (SAT).

Essentially, you’re able to take advantage of negative gearing benefits on an investment property that you own because you’ll be lodging income tax returns in Australia.

For more information, you can check out the official website of the Australian Taxation Office (ATO) or the State Administration of Taxation of The People’s Republic of China.

What if I’m living in Hong Kong?

China follows the constitutional principle of “One Country, Two Systems” and unfortunately, despite the existence of a double taxation agreement (DTA) between Australia and China, it doesn’t extend to the Hong Kong Special Administrative Region!

If you’re an Australian expat living in Hong Kong or if your income is sourced in Hong Kong, the DTA will not be applicable to you.

You can learn more about this in our Mortgages for Australian expats in Hong Kong page.

Do I need the ok from FIRB?

Foreign Investment Review Board (FIRB) isn’t required if you’re an Australian citizen or Australian permanent resident (PR) visa holder.

FIRB approval is only required for foreign born non-residents who would like to invest or buy a home in Australia.

Will the stamp duty surcharge apply to me?

A surcharge on stamp duty and, in some cases, land tax, applies to certain foreigners and visa holders depending on what state you want to purchase your property.

Luckily, Australians expats in China are exempt from these surcharges even if they’re not in the country at the time of contract exchange.

The rules around this may vary so it’s always best to double with your relevant state revenue office.

In particular, if you’re buying with a partner who is a Chinese citizen, then you may want to consider just buying in your name.

If you’re a permanent Australian resident, rather than a citizen, then that’s an even stronger reason to check with the relevant state revenue authority.

Apply for an Australian expat home loan today!

Choosing the right lender is the key to getting approved for an Australian expat in China mortgage.

We have relationships with almost 50 different lenders including the major banks, we can help you find the right lender for your situation.

Our mortgage brokers are specialists in mortgages for Australian expats in China! Did we mention that most most of our services are free?

Call us on 1300 889 743 (+61 2 9194 1700 if you’re overseas) or fill in our free online assessment form today.