Re: Can Australian expats in Singapore get a Australian mortgage?
Posted: Wed Jun 13, 2018 3:25 pm
Hi Birdy. Welcome to the forums.
Most banks provide mortgages toAustralian expats in Singapore and they won't treat you like a non-resident applicant. This means that you are eligible for the same interest rates and offers as Aussies living here.
The great news is that you may be able to borrow up to 90% of the property value even if you’re earning Singapore Dollars (SGD). You're in with a good chance at getting approved if you can provide your two most recent payslips and foreign tax returns as proof of your income.
However, if you can’t provide sufficient documents to prove your foreign income, then you may be limited to borrowing up to 80% of the property value.
Having income documents in English will also work in your favour but, if they're not, that are several lenders that have special non-resident departments with staff that speak Singaporean.
One of our lenders can also accept a letter from your employer as proof of your income if you don't have formally written payslips and you’re borrowing less than 80% Loan To Value Ratio (LVR).
In addition, some lenders will use the tax rate of Singapore, as opposed to Australian tax rates, which can significantly improve your borrowing power.
Our mortgage brokers are specialists in getting Australian expat mortgages approved. You can discuss your situation and home loan needs with one of our experts by calling our overseas number +61 2 9194 1700 or filling in our free online assessment form.
Cheers,
Most banks provide mortgages toAustralian expats in Singapore and they won't treat you like a non-resident applicant. This means that you are eligible for the same interest rates and offers as Aussies living here.
The great news is that you may be able to borrow up to 90% of the property value even if you’re earning Singapore Dollars (SGD). You're in with a good chance at getting approved if you can provide your two most recent payslips and foreign tax returns as proof of your income.
However, if you can’t provide sufficient documents to prove your foreign income, then you may be limited to borrowing up to 80% of the property value.
Having income documents in English will also work in your favour but, if they're not, that are several lenders that have special non-resident departments with staff that speak Singaporean.
One of our lenders can also accept a letter from your employer as proof of your income if you don't have formally written payslips and you’re borrowing less than 80% Loan To Value Ratio (LVR).
In addition, some lenders will use the tax rate of Singapore, as opposed to Australian tax rates, which can significantly improve your borrowing power.
Our mortgage brokers are specialists in getting Australian expat mortgages approved. You can discuss your situation and home loan needs with one of our experts by calling our overseas number +61 2 9194 1700 or filling in our free online assessment form.
Cheers,