Last Updated: 30th September, 2022

How Much Can I Borrow?

  • Australian citizens and permanent resident (PR) visa holders living in Singapore may be able to borrow up to 90% of the property value.
  • 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.

Will I Get Approved?

  • If you’re a dual citizenship holder or you’re married to a foreign national, some lenders may unfairly treat you as a foreigner so choosing a lender that favours expats is essential to borrowing at the maximum Loan to Value Ratio (LVR).
  • If you’re earning Singapore Dollars (SGD) 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.
  • Singapore has a private school system so lenders will include any school fees as a living expense when assessing your loan application.

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.

Singapore Foreign Income 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.

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.

Australians Expats In Singapore: FAQs

Is there anything else I should 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 can 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.

Case Study: Aussie Expat In Singapore

The Situation Goals The Solution

Meet Lisa, an Australian citizen living and working in Singapore looking to finance an investment property in Victoria.

She works as a senior marketing manager at a top cloud computing provider earning approximately SGD $150,000 p.a. plus company stocks in the form of a restricted stock unit (RSU).

She had already put down a 10% deposit on an off-the-plan unit and the settlement date was less than a couple of months away.

One of our specialist mortgage brokers first established Lisa’s goals, requirements and objectives.

Her main goals were:

  • Get approved for a $266,000 home loan with a 15-year loan term.
  • Stability of a fixed repayment by fixing the loan and reducing the risk of interest rate increases.
  • Get competitive pricing.

Once all the documents were received, our broker performed a full assessment. The deal was comparatively straightforward.

A couple of suitable expat lenders who used Singaporean tax rates as opposed to Australian tax rates and who were currently offering competitive rates were recommended.

Once the deal was submitted, she got approved for the full loan amount and received a low cost (P&I) investment loan at 3.59% p.a. (2 years fixed) which reverts back to a variable product she opts for.

The home loan also came equipped with a 100% offset account, redraw facility and unlimited extra repayments (most fixed-rate products limit extra repayments to $10,000 only), which meant she had the option to pay off the loan faster.

Apply for a home loan as an Aussie expat!

Our mortgage brokers specialise in Australian expat mortgages!

We can help you negotiate a great deal with the right lender who can meet your home loan needs from our panel of almost 50 lenders.

Also, most of our services are free!

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.