Lenders allow Australian citizens living in Japan to buy real estate in Australia or they can even refinance their existing home loan. However, expatriates may have great trouble meeting the requirements to get their loan approved. You need to be careful of the following before applying for a home loan:
- Some lenders may need to see your original payslips, tax returns, and other documents prior to loan approval.
- If you choose a lender that does not have a specialised loan processing system then you may face significant delays. So, it’s recommendable that you find a lender that can handle foreign addresses or foreign phone numbers.
- Many lenders may not approve a loan for an Australian expat for more than 80% of the property value.
- Some lenders may require you to sign a formal loan offer at the nearest Australian consulate.
- Some lenders may not accept Power of Attorneys (POAs).