Can Indians living in another country buy a property in Australia?

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: Can Indians living in another country buy a property in Australia?

Post by Otto Dargan »

Hi Ajjary, Welcome to the forum.

When a foreign citizen is working and living in a third country, then Australian lenders are very cautious towards lending for a home loan for those individuals. They basically want to ensure that the applicant’s income must match applicants nationality and where they live.

However, this is not required for Australian expats.

So, it’s better if you apply for a home loan once you receive your work permit and come here in Australia.

As a temporary resident, you have to focus on these things while applying for a home loan: Please enquire online or call us on +61 2 9194 1700 and explain your situation so we can help you get approved for a home loan.

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: Can Indians living in another country buy a property in Australia?

Post by Otto Dargan »

Hi Ajjary,

Yes, buying a property with a permanent resident helps a lot.

You could borrow up to 95% of the property value and pay only half of the foreign stamp duty if you’re buying the property as ‘joint tenants’.

Alternatively, you could buy the property in your cousin’s name only but have the loan in both of your names or for you to wait until you’re a PR. Otherwise, if you buy in VIC, NSW or QLD then you would pay the additional stamp duty.

We have a couple of lenders that will allow the property to be in one name and the loan to be in both names.

Call us on 1300 889 743 (+61 2 9194 1700 from outside of Australia) or complete our free assessment form to speak to our specialist mortgage brokers. They can guide you through the application process.

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

Post Reply