Australians expats living overseas can typically borrow up to 90% of the property value.
When calculating the borrowing capacity of Aussie expats most lenders will:
- Consider somewhere between 60% and 90% of your foreign income.
- Apply Australian tax rates when assessing your income, even if you’re living in a country without tax rates.
- Not apply negative gearing benefits for any properties that you already own in Australia.
- Load the interest rate on your foreign loans as a buffer in the event that rates were to rise. They basically apply a higher interest rate to foreign debt as a buffer. Lenders want to be sure that if overseas rates (whichever country it may be) were to rise, you could still afford the repayments.
Speak to one of our experienced mortgage brokers today by calling 1300 889 743 (+61 2 9194 1700 from outside of Australia) or fill in our free assessment form to find out how much you can borrow.
Cheers,