Re: A foreigner looking for a home loan
Posted: Mon Jan 28, 2019 8:32 pm
Hi Leo,
Welcome to the forums.
Australian banks implement a much stricter lending policy to foreign nationals than they do for Australian citizens. As lenders consider this a high-risk area, only a handful of banks actually provide home loans.
As a general rule, you may be able to borrow up to 70% of the purchase price. Bear in mind, higher interest rates apply to foreign purchases.
Given that you have a high net worth and you make your earnings in Japanese Yen (considered a primary currency), it's possible to get cheaper interest rates but you'll have to come up with a 25% deposit.
If you're a Japanese citizen and you're looking to get an Australian mortgage, please call us on +61 2 9194 1700 or complete our free assessment form and one of our brokers will contact you to further discuss your options.
Cheers,
Otto
Welcome to the forums.
Australian banks implement a much stricter lending policy to foreign nationals than they do for Australian citizens. As lenders consider this a high-risk area, only a handful of banks actually provide home loans.
As a general rule, you may be able to borrow up to 70% of the purchase price. Bear in mind, higher interest rates apply to foreign purchases.
Given that you have a high net worth and you make your earnings in Japanese Yen (considered a primary currency), it's possible to get cheaper interest rates but you'll have to come up with a 25% deposit.
If you're a Japanese citizen and you're looking to get an Australian mortgage, please call us on +61 2 9194 1700 or complete our free assessment form and one of our brokers will contact you to further discuss your options.
Cheers,
Otto