An expat returning to Australia looking for a home loan?

Any general questions you might have in regards to loans and finance.
Post Reply
User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: An expat returning to Australia looking for a home loan?

Post by Otto Dargan »

Hi tornbull,

Home loan for new employees isn’t seen as reliable by most of the banks. Fortunately, not all think the same way.

One of our lenders can accept the contract you have in place with your new employer rather than requiring you to provide your first payslip before considering your application. It recognises that despite a short employment history, many individuals are in a strong financial position and have industry experience.

This is especially true for returning Australian citizens and permanent residents who are in the middle of getting a new job.

The benefit of this policy is that you avoid missing out on your dream property cos you won't have to wait for your first payslip. Also, you have to provide the employment contract and a letter from your employer.

To obtain this, you must have a clear credit history, have a minimum of 5% in genuine savings and meet all other standard approval criteria to qualify.

We have specialist mortgage brokers that are experts in short-term employment and probation. Please give us a call on 1300 889 743 (+61 2 9194 1700 from outside of Australia) and ask one of our mortgage brokers will help you to get your mortgage approved!

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: An expat returning to Australia looking for a home loan?

Post by Otto Dargan »

Hi tornbull ,

Usually, the interest rate of your mortgage shouldn’t be affected by your employment. However, in your case, since the choice of the lenders is limited, the downside may be the interest rate.

Even if you pay a higher interest rate now, you can refinance your home loan to a lender with a sharp interest rate after you complete your probationary period.

Please enquire online or call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) to speak to a mortgage broker who specialises in finding home loans for people who are on short-term employment.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

Post Reply