Can a New Zealander buy a property to live in Australia?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Can a New Zealander buy a property to live in Australia?

Post by Otto Dargan »

Hi Zimmer, Welcome to the forum.

NZ citizens living in Australia can purchase any type of real estate they desire. This includes investment properties, and old or new homes to live in.

In your case, since you’ll be moving to Australia only after a year, you can’t buy an owner-occupied property, for now, you have to buy an investment property. However, once you move here, we can ask your bank and get you owner-occupier interest rates.

Moreover, the banks want to ensure whether you have a lot of cash for a financial buffer or whether you have a job lined up once you move to Australia.

So, it’s advisable not to use all of your deposit - you can put the remainder into an offset account and use it later. It helps to reduce your interest bill, as you have to pay the interest on the balance of your home loan less the balance of your offset account.

Please enquire online or call us on +61 2 9194 1700 and we can help you get approved for a home loan for an NZ citizen.

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 a New Zealander buy a property to live in Australia?

Post by Otto Dargan »

Hi Zimmer,

No, NZ citizens don’t have to pay stamp duty surcharge or FPAD (foreign purchase additional duty) while buying a property in Australia, be it an investment or an owner-occupied property.

Please note that to avoid the stamp duty surcharge, it’s crucial that you’re in the country at the time of settlement and contract signing.

Also, we can get you the same interest rates as an Australian citizen.

Please call us on +61 2 9194 1700 or by complete our free online assessment form and one of our specialist mortgage brokers will call you to discuss your options.

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

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