Australians living in New Zealand is one of the most common expats we deal! We know how to build a strong case so you can borrow at the maximum LVR.

A hidden method that not many mortgage brokers know how to do is to find a lender that will use New Zealand tax rates rather than Australian tax rates so more of your income can be considered, vastly improving your borrowing power.

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.

Australian Expat Mortgage Assessment Tool

By utilising the assessment tool, Australian expats living in New Zealand can discover suitable mortgage lenders tailored to their requirements.

Check if you qualify for a home loan as an Australian expat

Select your residency status.
Select your country
Select the currency you are earning in
Select what you are planning to do.
How It Works
  1. We will ask you a few questions in order to better understand your situation.
  2. The information you entered will be analysed by our smart assessment system.
  3. Find out if there are any lenders who may be able to approve your home loan.

What if I’m an Australian permanent resident?

Permanent residents living in New Zealand can still get a home loan to buy real estate in Australia.

We have some lenders that consider this as an exception to normal lending policies if you’re able to prove your income. In some cases, you may also be required to hold a Power of Attorney (POA) in Australia.

If you’re in a strong financial situation, you may even be able to borrow more than 90% of the property value.

How Do I Prove My Foreign Income?

Are you earning NZD dollars?

New Zealand dollars are actually on the list of currencies that most banks will accept for Australian expats applying for a mortgage. If you’re working in a permanent full time position, even better!

Most of the time, you’ll just need to provide the same financials as if you were living in Australia, which are:

There’s even a higher chance of approval and quicker turnaround times because the financials will be in English. Applications for expats in non-English speaking countries can be a headache for Australian banks so you’ve already made their job easier.

Do you get paid in another currency?

Check out the Foreign Currency Mortgages page for a full list of the most common currencies that we deal with.

After that, give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our easy free assessment form to speak with one of our specialists in home loans for Australians living in New Zealand.

New Zealand Non-Resident Withholding Tax (NRWT)

New Zealand has a Non-Resident Withholding Tax (NRWT) that is applicable if you are living in NZ and paying interest to an organisation in another country. This is because that organisation is earning interest in NZ but is not paying tax in NZ.

The effect of this is that your interest rate is effectively 10% higher. For example if you had an interest rate of 3% then your effective interest rate is 3.3% as you pay a 10% withholding tax to the NZ government.

You can avoid this tax by borrowing from a lender that has a branch in NZ and is approved by the NZ government. Please contact us to see if you are eligible to borrow from one of these lenders. Note that many Australian banks have branches in NZ however only some of them do not require you to pay this additional tax.

Contact your accountant in NZ if you would like further financial advice on this tax.

Australians In New Zealand: FAQs

Are Low-Doc Solutions Available?

Are you a tradesmen, skilled worker or running your own business in New Zealand?

It’s no surprise that many Australian professionals move to New Zealand for a new, more relaxed lifestyle across the Tasman.

The problem is that if you’re a contractor or you run your own business, most Australian banks want to see your full financial statements. This includes your last two years’ tax returns and your Business Activity Statements or GST returns (GST101), for the past 12 months.

If you’re in this situation, we understand that it can be difficult to provide these documents especially if you’re late with your tax returns.

We’re experts in finding low doc and even no doc mortgage solutions for Australian expats living in New Zealand.

Simply fill in this easy assessment form to find out how we can tell you how we can help!

Why Choosing The Right Lender Is Key

Even though the Kiwis are our closest neighbours, you might as well be living halfway across the world when it comes to some Australian banks.

Not choosing the right lender can quickly see your home loan application declined:

  • Some banks need to see your original payslips, tax returns and other documents prior to loan approval.
  • There can be significant delays if you choose a lender that does not have a loan processing system that is designed to handle foreign addresses or foreign phone numbers.
  • Many lenders will not approve a loan for more than 80% of the property value.
  • Several lenders do not accept Power Of Attorneys (POAs).

How will I pay tax on the Australian property I buy?

Although we can’t provide tax advice, there is a Double Taxation Agreement (DTA) in place between Australian and NZ.

What this basically means is that any rent you earn from your investment property will be taxed both in Australia and New Zealand.

However, since you’re living in New Zealand, you can claim a tax refund from the Inland Revenue Department (IRD).

Bear in mind though that you can’t generally claim negative gearing benefits if you’re an Australian expat that owns property in Australia. The reason is that you’re not actually lodging an income tax return in Australia.

Tax laws change frequently so it’s essential that you speak with a qualified accountant and check the Australian Taxation Office (ATO) for up-to-date information and advice. The above information should not be substituted for professional financial and tax advice.

Speak with a mortgage broker today

Discover if you qualify for a home loan as an Australian living in New Zealand!

We have almost 40 Australian lenders and major banks do choose from and most of the time our services are free!

Call 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form today!