No, they don’t.

Unless you can’t provide sufficient evidence of your income, Australians living in Singapore won’t need to pay a higher interest rate to get a home loan.

You can even get the same interest rates as an Australian citizen living back home!

A few lenders may not offer you the same interest rate discounts as people residing in Australia but we can often negotiate a significant interest rate discount that’s below the Bank Standard Variable Rate (BSVR).

Not necessarily. Most lenders require non-resident borrowers to provide at least a 5% deposit, plus enough funds to pay for additional settlement fees including stamp duty and the costs of a solicitor.

This deposit must be provided in the form of genuine savings (a deposit you’ve saved by yourself over a period of 3 months) or your mortgage application may be declined.

Luckily, we’re specialists in getting home loan approvals for Australian expats living in Singapore and we know which lenders offer no genuine savings solutions.

For example, if you already own property in Australia, you can access equity for your deposit.

As another option, if your parents are in a position to do so, you can borrow up to 105% of the purchase price with a guarantor loan. In this way, you won’t need a deposit and you can avoid the cost of Lenders Mortgage Insurance (LMI), a fee charged when borrowing more than 80% of the property value.

Call us on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) to speak with one of our mortgage brokers today.

Typically, you’ll be required to provide your two most recent payslips and foreign tax returns as proof of your income.

Although these documents aren’t in English, several lenders have specialist non-resident departments with staff that understand many languages and dialects.

If the written payslips aren’t normally provided then this may complicate the verification process.

The good news is that one of our lenders will accept a letter from your employer as proof of your income if you’re borrowing less than 80% of the property price.

Did you know Australian expats in Singapore are eligible for the FHOG?

To be eligible for the First Home Owners Grant (FHOG), you’ll need to be buying property in Australia for the first time. You’ll also need to move into the property for a minimum continuous period of six months within one year after you buy.

Our mortgage brokers are specialists in getting Australian expat mortgages approved!

Complete our free online assessment form or call us directly on 1300 889 743 (+61 2 9194 1700 if you’re outside Australia) and we can tell you if you qualify for the FHOG.

Yes, there is a Double Taxation Agreement (DTA) in place between Singapore and Australia, which means that Australian expats living in Singapore won’t be subjected to tax twice.

Basically, any income you earn from your investment property will be taxed in both Australia and Singapore, however, you can claim a tax refund from the Inland Revenue Authority of Singapore (IRAS) since you’re living in Singapore and the asset is in Australia.

Please keep in mind that since you’re not lodging income tax returns to Australia, you may not be able to claim negative gearing benefits on the property you own.

Disclaimer: The above information shouldn’t be taken as tax advice.

Please speak with your accountant about any property tax considerations before applying for a mortgage as an Australian living in Singapore. You can check the Australian Taxation Office (ATO) as well as Singapore’s IRAS for the latest information and advice.

Foreign Investment Review Board (FIRB) approval won’t be needed even if you’re buying with a non-Australian spouse.

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

You don’t need FIRB approval if you’re an Australian permanent resident living in Singapore!

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 living in Singapore 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 non-Australian citizen, then you may want to consider just buying in your name.

You might be able to avoid the foreign stamp duty, if you are on the title of the property while still borrowing with a non-Australian partner.

As this is a complicated structure, and very high risk, lenders only accept the borrowers who are in a spousal or de-facto relationship.

You can find the lending criteria and advantages of this loan on One on Title, Two on Loan page.