Welcome to the forums and thank you for reaching out to us.
We’re glad to let you know that Australians living outside of the country can borrow up to 90% of the property value. Some of our lenders use Singaporean tax rates when assessing your taxable income, which could improve your borrowing power.
As an expat, you can enjoy the following benefits:
- You get the same interest rate discounts.
- The Singaporean Dollar (SGD) is accepted/preferred by most lenders.
- Furthermore, FIRB approval is not required.
- You do not have to pay the foreign stamp duty surcharge normal stamp duty still applies.
- You will need to provide original payslips, tax returns and other documents for approval.
- A minimum of 10% deposit and extra funds are required to cover for legal fees, mortgage costs and LMI.
- You will also need a Power of Attorney (POA) to sign the documents in Australia on your behalf. There are lenders who will accept your family member or solicitor as a POA.
- Your ID has to be certified at the Australia High Commission in Singapore. You might need to bear service fees (The fees can be up to a hundred dollars).
Cheers,