Can NZ citizens buy property in Australia?

This page is for New Zealand citizens or New Zealand permanent residents (PR) living in either Australia or New Zealand, who would like to apply for a mortgage to invest in real estate in Australia.

The property must be in Australia so we cannot help you with buying a house in New Zealand from Australia.

Can I borrow in Australia?

The amount that you can borrow and the banks that will lend to you will vary depending on your situation:

  • Living in Australia: New Zealand citizens living in Australia can borrow up to 95% of the property value.
  • Non-NZ citizens living in Australia: Non-New Zealanders on a 461 visa (New Zealand Citizen Family Relationship Visa) can borrow up to 95% of the property value. Read more in the section below.
  • Living in NZ: Some of our lenders will allow you to borrow up to 85% of the property value.
  • Living in another country: Some of our lenders will allow you to borrow up to 80% of the property value.
  • Mortgage discount packages: One of our lenders can offer NZ citizens and NZ permanent residents the same professional package discounts that are available to Australian citizens.

Please call us on 1300 889 743 (+61 2 9194 1700 if overseas) or complete our free assessment form to discover if you qualify for a New Zealand citizen home loan.

Do I qualify for a 461 visa home loan?

The New Zealand Citizen Family Relationship (Temporary) visa (subclass 461) allows non-New Zealanders to live and work in Australia for up to 5 years.

To qualify, you must be a part of the ‘family unit’ of a New Zealand citizen living and working in Australia on a temporary Special Category visa (subclass 444) or SCV.

Alternatively, they could be travelling with you to Australia and will be granted a 444 visa on arrival.

Bear in mind, the bank will want you to be fully approved for the 461 visa when you apply for your home loan.

What does a ‘family member’ mean?

You could be related to the 444 visa holder in the follow ways:

  • Married or in a de facto relationship.
  • The child or step-child of either the NZ citizen or their partner.

This is one of the only ways that a foreign citizen can borrow up to 95% of the property value!

Choice of lenders matters!

In a scenario where one of the joint borrowers holds a 461 visa and the other, a 444 visa, some lenders will focus their approval decision on the 461 visa. Some lenders decline your loan or limit you to borrowing 70% of the property value whereas some of our lenders will approve up to 95%.

Will I pay a higher interest rate as an NZ citizen?

Some lenders charge a higher interest rate if you are not an Australian citizen.

This is particularly true if you are living in NZ or another country outside of Australia.

However, in most cases, we can get you the same interest rates as an Australian citizen, even if you are borrowing 95% of the property value!

Please call us on +61 2 9194 1700 from overseas, on 1300 889 743 from within Australia or complete our free assessment form and one of our specialist mortgage brokers will call you to discuss your options.

NZ citizens living in other countries

Australian lenders consider your ties to Australia when approving a mortgage. Clearly if you are living in Australia then you are a lower risk borrower than a NZ citizen living in NZ.

What about NZ citizens living in other countries?

The problem for Australian lenders is that a NZ citizen living in Hong Kong, Singapore, the UK or the UAE is seen as having no ties to Australia.

We have some lenders that will consider a NZ citizen living in any country on a case by case basis.

This includes not only the above but also:

  • Fiji
  • Indonesia
  • Vanuatu
  • India
  • Taiwain
  • United States
  • China
  • Philippines

Is Australian government approval required?

No, Foreign Investment Review Board (FIRB) approval is not required for those with New Zealand citizenship.

Note, New Zealand permanent residents (i.e. not an Australian or NZ citizen) require FIRB approval as they do not have the ability to live in Australia permanently.

Why are so many NZ citizens investing in Australia?

In October 2016, the Reserve Bank of New Zealand put a ‘speed limit’ on their banks that has reduced the number of loans they can approve for investors who have less than a 40% of the purchase price as a deposit.

As a result, NZ property investors have increasingly turned to Australia because they can still buy a property with a small deposit.

What is the Non-Resident Withholding Tax (NRWT)?

If you’re living in NZ and paying interest to someone that lives outside of NZ then you may be liable to pay additional taxes.

This is a complex issue that you should discuss with your accountant.

For the purposes of investing in Australian property you either have to choose a lender who meets certain criteria so that you don’t have to pay the tax or be forced to pay the tax yourself.

If you had an interest rate of 4.00%, you’d effectively be paying 4.40% because of the tax.

In some cases, we can choose a lender that allows you to buy with a small deposit.

We can then refinance in 2-3 years time with a lender that meets the criteria so you can avoid paying the additional tax.

Can you avoid the stamp duty surcharge?

In 2016, the Government introduced a stamp duty surcharge or FPAD (foreign purchase additional duty) for foreigners that want to buy property in Australia.

When New Zealand citizens arrive in Australia, they are automatically granted a special visa known as a Special Category Visa (Subclass 444).

This visa may exempt you from having to pay the stamp duty surcharge which applies in New South Wales (NSW), Victoria (VIC), Queensland (QLD), Western Australia (WA), South Australia (SA), the Australian Capital Territory (ACT) and Tasmania (TAS), but be careful!

In New South Wales, for instance, you need to be in the country for at least 200 days and at the time of contract exchange in order to avoid the stamp duty surcharge.

However, other states, like QLD, will still apply the stamp duty surcharge if they find that you entered Australia just for the purpose of purchasing a property.

It’s likely that your state’s revenue office will liaise with the Department of Immigration and Border Protection to identify borrowers that have travelled between Australia and New Zealand in a short space of time.

It’s also important to keep in mind that the 444 visa expires if you’re outside of Australia when the Department completes a Visa Entitlement Verification Online (VEVO) check.

We advise our clients to speak with a qualified solicitor and your state’s revenue office to determine what rules apply because they can change on a regular basis.

If you can’t be in Australia at the time of settlement, you can avoid the FPAD by purchasing in the Northern Territory.

Are NZ citizens eligible for the First Home Owners Grant?

The Australian government’s First Home Owners Grant (FHOG) and other benefits are available to permanent residents, as if they are citizens of Australia.

The Australian Department of Immigration automatically grants New Zealanders living in Australia a Special Category Visa (SCV).

Because New Zealand citizens are considered – for all intents and purposes – to be permanent residents of Australia, they are eligible for the grant.

Again, in NSW, you need to be living in the country for at least 200 days before you can buy a property and, therefore, apply for the FHOG.

You can even potentially avoid stamp duty or at least qualify for stamp duty concessions if you can meet the following criteria:

  • You’re a first home buyer.
  • You’re buying a property to live in in NSW not to invest.
  • The property you’re buying is worth $800,000 or less.
  • You signed the contract after 1 July 2017.
  • You’re a permanent resident or a 444 visa holder that has been living in the country for at least 200 days at the time of exchanging contracts.
  • You must be in the country at the time of contract exchange and at the time of settlement.

Try the stamp duty calculator work out how much you could save.

We also recommend you check the NSW OSR website to stay up-to-date on further policy changes.

Please refer to your mortgage broker for information about which benefits are available in your state.

Do you need help with an Australian mortgage?

Please call us on +61 2 9194 1700 from overseas or on 1300 889 743 from within Australia.

Alternatively, complete our free assessment form and one of our Australian mortgage brokers will call you to discuss your situation.

Can I release equity in a property in NZ to buy in Australia?

Yes you can but, to be be clear, it will involve two separate home loans.

Firstly, you need to refinance your mortgage in NZ in order to release equity.

This is something we cannot assist with because our Australian credit licence (ACL) only allows us to deal with finance providers in Australia. You must seek assistance with your bank directly in New Zealand.

The other home loan will be in Australia with an Australian bank or lender to buy a property using the equity from your NZ property as a deposit.

  • You can borrow up to 60% of the value of a NZ investment property.
  • You can borrow up to 80% of the value of a NZ home, if you’re living in NZ.
  • Borrowing more may be possible with specialist lenders at slightly higher interest rates.
  • Please contact a mortgage broker or bank in NZ to help you release equity.

Once you’ve released the equity in your NZ property, you can contact us and we’ll help you to get approved for the remainder of the funds in Australia.

At the moment, the Reserve Bank of New Zealand (RBNZ) is limiting the amount they will allow banks to lend for investment due the rapid growth of the NZ real estate market.

This legislation may change in the future in which case you’ll be able to borrow at higher LVR.

Can I buy a home or investment property?

Your loan can be used for any kind of residential housing. This includes both a home to live in or an investment property in Australia.

You can also apply for a home loan to refinance your existing loan, release equity or build a property in Australia. Commercial mortgages are available on a case by case basis.

Am I required to buy a new property?

Other foreign citizens are required to buy a new property to comply with Australian legislation.

However, NZ citizens are allowed to buy vacant land and existing properties as well.

Which banks have the most competitive home loans?

Before you look at which lenders have the most competitive interest rates, you need to consider which can actually approve your mortgage!

There isn’t much point in applying if you’re only going to have your application declined and damage your credit file.

In particular, if you’re living in NZ or are borrowing over 80% of the purchase price of your property, then not every lender will approve your home loan.

For this reason we use different methodology to find you the right lender.

We know which banks have flexible lending criteria for NZ citizen customers.

This means that you may qualify for a home loan from a reputable bank and will not need to apply with specialist or non-conforming lenders.

Why do special rules apply for NZ citizens?

Some Australian banks view New Zealand citizens more favourably because our governments have joint agreements for trade, residency and legal purposes.

In addition to this, our countries share the same credit reporting system known as VedaScore via Veda Advantage.

For these reasons several banks see NZ citizens as low risk borrowers, even when compared to UK or USA citizens.

What if I’m waiting to become an Australian citizen?

That’s great but it’s not a requirement to qualify for a home loan in Australia.

However, getting your Australian citizenship allows you to access certain social security payments that a SCV holder or permanent resident couldn’t.

You’ll also be in position to sponsor family members in New Zealand for permanent residence.

The good news is that if you were present in Australia on 26 February 2001 as the holder of an SCV, you’ll be eligible to apply for Australian citizenship.

What if I am a NZ Permanent Resident?

This is more complicated as fewer banks will accept your application.

It will also depend on which country you are living in at the time of application. Please contact us to discuss your situation.

What documents will I need to provide?

To find you the best lender for your situation we’ll need to obtain the full details of your situation, including supporting documents such as bank statements, payslips and identification.

We can then work out which lenders will approve your home loan, and let you choose the most suitable mortgage out of those available from these banks.

Apply for an Australian mortgage!

We are mortgage brokers who specialise NZ citizen home loans.

We know which banks can accept your application and which offer the best interest rates for non-residents.

If you would like to buy a property in Australia, please call us on +61 2 9194 1700 if you’re overseas or on 1300 889 743 if you’re in Australia.

Better yet, you can complete our free assessment form wherever you are in the world and one of our specialist brokers will get back you.

  • David McClane

    Hi, I’m living and working now in UK. My partner is a NZ citizen and we’re planning to buy a property in Australia at the end of the year. How much can we borrow and are we eligible for the first home buyers grant.

  • Hi David,

    I’ll assume you’re a UK citizen not an Australian citizen. On that basis most lenders would view you as a ‘foreign investor’ not an Australian Permanent Resident as although your partner is a NZ citizen they are currently living outside of Australia.

    You’d likely qualify to borrow 80% of the property value. Although most banks don’t lend to foreign investors we have a couple that view NZ citizens anywhere in the world the same way that they view Australian expats.

    You’d potentially qualify for a first home owners grant if you buy a new property and were planning to move in within the first year. It’s complicated and varies between states so best to ask our mortgage broker

  • Stephanie-anne Higham

    I’m a Aussie my partner is a New Zealand citizen living in Australia for the past 10 years.
    My partner has bad credit so his mum also a new Zealand citizen is coming onto the home loan with us so we get approved she lives in nz still .
    we would be buying a house and land package and currently have the full 20% deposit were trying to work out the best way to structure the home loan
    what tax is involved ?
    my partner and i would be living in the house with no plans to re sell anytime soon his mum would look at getting her name taken off the loan a few years down the track when my partners credit is better we belive this might be set up as a refinance minus his mum but in doing that will there be tax ?
    were lost at the best way to achieve what were trying to do

  • Hi Stephanie,

    Great question! With a 20% deposit I expect we can get you a good loan even if your partner has problems with their credit history. We can look at your situation and build a case. So his mum may not need to go on your loan.

    As she lives in NZ it may just complicate things and yes you are right if you buy her out later then you would need to pay stamp duty on her portion. If she owned 20% of the property and the property was worth $1,000,000 then you’d pay stamp duty on $200,000 when you bought her out later. This is consistent across all states of Australia to the best of my knowledge, however check with your conveyancer to be sure.

  • Chang Gyu Yoo

    hi there I’m a NZ citizen and my wife and I are both wanting to move to Australia and I have a house in NZ already, but we wanting to buy a brand new home. how much deposit do I need? 5%?10%? do we qualify as first home buyer in Australia? If my buys as her first home in Australia do we get any benefit? Is there off set variable mortgage available?
    thank you (both of us are NZ citizen)

  • Hi Chang,

    It depends on what state you are buying in, but you can qualify for first home benefits if both of you have never owned a home in Australia before.

    Typically as a NZ citizen living in Australia 5% as a deposit and 5% to cover costs is required. So 10% in total should be fine. If you like then complete our enquiry form and one of our mortgage brokers can do a full assessment for the state that you’re buying in

  • Chang Gyu Yoo

    We wanting to buy in Melbourne/Geelong and possible Investment in Gold Coast what are the laws?

  • Yes we should be able to lend 95% for both. So indicatively you need 10% of the purchase price to complete each purchase. We’d need to consider your new jobs in Australia and if your income is sufficient as well

    Be careful with the gold coast as the high density apartments often are overpriced. We tend to see a lot of them get valued at lower than the purchase price. The houses in the area tend to be fine. Just make sure you compare the value of the property to similar properties in the area

  • John Lo

    Hi there, I’m NZ Citizens, me and my wife already had a houses in NZ, but we wanting to buy a brand new apartment in NSW this August, We will moving to Australia sometimes after the apartment built, it can be 1.5 years time, When should I do the pre approval please? Am I still a first home buyer over there? And is there any chance I still can borrow 80% from the banks? Thanks

  • Hi John,

    The challenge here is that most lenders cannot issue an approval until the apartment is close to completion. So you’d be signing a contract now, and we could assess your ability to borrow now, but if lending policies change or if your personal circumstances change then we may be unable to get you a home loan when the time for settlement comes. That means you’d lose your deposit.

    I’d recommend that you consider one of these options:
    – Buy an existing property rather than a new property (lower risk)
    – Buy a property that has just been completed (it’s still new, but lower risk)

    If you do buy a new property now then consider moving to Australia and getting Australian jobs before settlement as then there are many lenders that can assist.

    If you have never been to Australia then you are not an Australian permanent resident and may pay the higher stamp duty (tax) that is charged to foreign citizens, If you and your partner have visited Australia you would have been issued a special category 444 visa on arrival and would be permanent residents which would mean you are exempt from the additional duty.

    I hope that helps.

  • Stephanie-anne Higham

    Hi I’m wondering were selling a property in New zealand and want to buy land in Australia and put a house on it without a mortgage so we would be paying in full but we would remain in new zealand and my son would live in the house in Australia

    what should we expect ?
    will there be any hassles because there’s no mortgage?

    were not planing to sell the home for a very long time if ever.

  • Hi Stephanie-anne

    That should be fine as long as you have been to Australia at least once and so are permanent residents of Australia.

    Here’s some tips on building

    I’d recommend you buy an existing home in most cases like yours as construction and being overseas may be difficult.

  • anon

    Hi we are NZ citizens wanting to relocate to Sunshine Coast. We have a good deposit from our house being sold and want to buy in Australia. I am planning on getting a job there and my husband will have a job he can do from Australia but be paid out of a NZ bank account.. We currently have pre approval from a NZ bank can we use that over there?

  • wendy

    Hi, We are both kiwis. I have been living in Australia for 35 years. Been living here, owned a home here, have a business here in Adelaide.
    My partner is a kiwi and lives in Christchurch but is over here with us in Adelaide fortnightly.
    He owns property in Christchurch and has his own profitable business of 20+ years.
    Can we apply for a loan here in Adelaide to purchase a home with him still classed as a permanent resident of NZ and me of resident here in Adelaide ? We have deposit and ready to purchase sometime soon ?

  • Hi
    I’m not sure which bank you’re pre-approved with however I’ve never seen a NZ bank lend in Australia. So I expect you’d need a new pre-approval. Yes we can get you approved before you move up to 80% of the property value. More than that would be case by case. We may need evidence that your job is transferrable.

    Good luck with your move! Fill in this link and one of our brokers will complete a full assessment for you

  • Hi Wendy,
    Yes we can assist with this. Some banks will not accept his business income as foreign business income is rarely accepted. So either we can use your income alone or we can apply with a bank that accepts his income. Either way you should be eligible for a great interest rate. Please call us on 1300 889 743 and we’ll complete a full assessment.

  • Kunal

    Hi me and my partner are NZ Citizens living in Auckland NZ. We are looking to buy an investment property (with view of long term capital gain) either in Melbourne or Sydney. Are we eligible for a investment property loan in AU? If yes, what would be our deposit requirement and interest rate? Thanks

  • Hi Kunal,

    Yes you would be eligible as long as you meet all other standard criteria. You can likely borrow 80% of the property value which means you need 20% as a deposit and 4% to cover purchasing costs. So around 24% of the purchase price should be fine.

    There’s several things to consider so it’s best to call us to go through it in more detail. You can call our brokers on +61 2 9194 1700 from overseas. Good luck!

    Also we can put you in touch with a buyers agent who can assist you with finding a property. They work for you not the seller and usually they get a much better deal. Just ask our broker if you’re interested.

  • Laura

    My partner and I are looking to purchase our first home in Brisbane. I am an Australian citizen living and working in Australia and he is a New Zealand citizen living in Australia, however he works in NZ and is paid in NZD. We are looking to purchase a home to live in. Are we able to borrow 95%?

  • Hi Laura,
    Aus paid in AUD working in Aus and NZ citizen living in Aus, working in NZ and paid in NZD should be fine to buy a home and borrow 95%. Right now QLD has increased first home benefits so if you buy or build a new property you may also be eligible for a $20,000 grant.

    Not all lenders will accept your partner’s income, the ones that do will likely only accept 80% of his income. That should be fine as rates are relatively low at the moment.

    Please call us on 1300 889 743 and we can complete a full assessment.

  • raanann

    Myself and my wife lived 12 years in new Zealand and are new Zealand citizens, we
    bought a house there which is been rented , a year ago we left
    back to Israel Where we got a house too .
    We are planning to sell this house in Israel and to buy a house in Brisbane
    and in two years’ time to move to Brisbane .

    My question is – can we get a mortgage in Australia to buy a
    house ?

    the nz house we still got a small
    mortgage in new Zealand from ANZ bank .

  • Hi Raanann
    As NZ citizens living outside of NZ or Australia, many Australian banks will see you as having few ties to Australia and so will not consider your loan. Also if your income is in Israeli new shekel (ILS) then this is not a currency that is accepted by many banks. That being said we have access to some smaller building societies and credit unions which have excellent rates and will consider lending up to 80% of the property value for someone in your situation. Please fill in our free assessment form and our mortgage brokers can complete a full assessment. Please put ‘refer to Otto’ in the comments of your enquiry and I’ll get involved as your scenario is a bit more challenging

    Have you been to Australia while a NZ citizen using your NZ passport? If so then you’ll have a special category 444 visa which means you will not pay the 3% additional duty that foreigners pay in QLD. If you haven’t got this visa then try to sign a contract to buy before the 1/10/16 as this is when the new tax takes effect.

    We can put you in touch with a buyers agent that can help you to buy in Brisbane, they’ve done a great job for some of our other clients. Just mention in your comments of your enquiry if you’d like our broker to send you their details.

  • Apogee

    I am a NZ Citizen moving to Melbourne to start a new job this December. I will not be selling my home in NZ but renting it out instead as I acquire a high rental income from it and the value of the (BNZ) mortgage is relatively low (15% of current value). My question is, can I utlilise the considerable capital value in my NZ property to help purchase a Melbourne residential property for me to live in? Will the Australian banks give any consideration to the value of my property in NZ? Cheers.

  • Hi Apogee,

    Yes you can use your property in NZ to fund your purchase in Australia. The best course of action is:

    1. Approach BNZ or a NZ mortgage broker now and increase your loan so that you have a deposit in Australia.
    2. Either now or when you have moved to Aus you can then buy a property in Aus using an Australian bank. We can assist you with this as it’s an area we specialise in.

    You should allow for a deposit of 25% of the purchase price of the property you would like to buy in Aus. This would allow 5% to cover costs such as stamp duty and 20% as a deposit. You can have a smaller deposit however you’d pay Lenders Mortgage Insurance (LMI).

    We can complete a full assessment of your situation now and make sure that there is nothing that would stop you from getting a loan once you are in Melbourne. Then we can get you a pre-approval when you’re ready to buy.

  • hannah

    Hi My MIL is 61 and living in NZ. She has lived in Australia on and off for the last 45 years. She is looking to move back and will require a mortgage. She will sell her house and require about 30% mortgage to buy on something based around $300kAUD. Is the age an issue to get a mortgage without coming over to work for a few months?

  • Hi Hannah,

    We’ll need to prove that she can repay the loan prior to retiring. It would depend on what she is doing to work, how much she has in superannuation and when she plans to retire. Some lenders consider retirement age to be 65 and some consider it to be up to 75. Personally I think it’s best to look at what your mum plans to do and to make sure that it’s feasible as that’s what really matters.

  • tracy_NZ

    Hi, i live in NZ and am a NZ citizen. i am looking to buy an apartment off the plan in Melbourne, so this will save me some stamp duty. i have been to Australia many times before, so does this mean i already have the 444 visa and won’t have to pay the extra foreign tax duty? do i physically have to be in Australia when i sign the contract or at time of settlement to avoid the foreign tax? thanks.

  • Hi Tracy,
    Yes you would have a 444 visa. My understanding is that you wouldn’t pay the tax however best for you to call the VIC State Revenue Office to double check on (+61) 3 9628 0000.
    Buying off the plan can be risky as there are lots of properties we are seeing in the Melbourne CBD which are valuing well below the purchase price. So please be careful and do your research. We know some buyers agents that can assist if you need some help.
    Also you can’t be sure that at the time of settlement that lending policies will allow NZ citizens living o/s to buy in Australia. It’s likely, but it’s a risk that you need to be aware of as lending policies change regularly.
    We’re experts in helping NZ citizens to get a loan in Australia so contact us if you’d like our help

  • Alan

    Hi , I live in Australia.I am a Kiwi. I have a mortgage with Commonwealth bank. I wish to purchase a second house. I am not a permanent resident as I arrived after 2001. I would like to use equity from my first property. I work FIFO from PNG. My pay goes through Westpac into my Australian bank account. I pay normal taxes. With policies been changed by a few of the banks back in April ,in regards to lending. would I be eligible to apply for a new mortgage.The banks may require me to be a permanent resident.

  • Hi Alan,
    We have several lenders that accept FIFO income so that’s ok. As for your visa status the devil is in the detail. Some lenders policies say 444 visa holder whereas some say nz citizen. So we just need to apply with the right one. I’d expect we can find a solution for you.

  • Hi Russell,
    We specialise in lending for Australian properties, unfortunately we aren’t experts in lending policies for properties in NZ. I’d recommend that you contact a mortgage broker in NZ to assist.

  • Archana

    HI there.My husband is a New Zealand Citizen and I am a resident of NZ. Husband started working in Australia from the 18th of July 2016. I am still in New Zealand and flying to Australia on 26 October. I am qualified Accountant(CPA) . we wish to buy a house ASAP and high possibilities are I might be unemployed when we apply for a Loan. Can we progress based on our current circumstances? Thanks

  • Hi Archana,
    If your husband has a high income then you may qualify even without you being employed. However in most cases Australian house prices are so high that two incomes are needed to prove that you can afford the repayments. Once you are one day in your new job then we can get approved.

    You’d likely be on a New Zealand Citizen Family Relationship (Temporary) visa (subclass 461), while your husband would be a PR with a 444 visa. This is acceptable to some of our lenders.

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  • AT

    Hi Team,

    I am an NZ citizen, want to buy an investment property what are my options? I can provide upto 20% deposit.

    Thanks – AT

  • Hi AT
    That should be fine. If your in Australia it’s quite simple, if you’re in NZ we have a few lenders that will approve your loan and give you the same rate as an Aus citizen. You can give us a call on +61 2 9194 1700 from overseas and ask for a NZ citizen specialist.

  • Sunitha Kallepu

    Hi There,

    I’m Australian Resident living in NZ. We have plan to move Australia in near future. I have question, Can i get home loan to buy house in Australia while working in New Zealand. If yes, Can any one tell me how to proceed.


  • Hi Sunitha,

    In most cases yes you can qualify to buy a property now. It would depend on specifically what Citizenship you hold and which visa(s) in Australia and NZ. If you’re a NZ citizen this should be fine.

  • Sunitha Kallepu

    I have Australian PR but staying in New Zealand. I would like to which banks give the home loan option

  • Yes we can help with this. Best to give us a call and we’ll complete a full assessment +61 2 9194 1700 or complete this form

  • KK S

    Hi Experts,

    I am a New Zealand citizen living and working in Hong Kong, planning to migrate to Melbourne in 2018. Can I buy a property now (2017) and rent it out before I move to Melbourne? How will be my stamp duty and tax be calculated? What are my options to offset?

  • Hi KK
    Yes you can buy now. We have a few lenders who accept NZ citizens living outside of Aus or NZ.
    You would pay a higher stamp duty as the NZ PR 444 visa expires when you leave australia so you’d be considered a non resident by the VIC government. So if you visit Australia just gor settlement day you’ll have a 444 visa and you’ll avoid the extra stamp duty.

    Allow around 4.5% of the purchase price to go in duty and other costs. We can calculate the exact amount if you call us.

    Avoid off the plan apartments in the Melbourne CBD as we’re seeing a lot of low bank valuations and overpriced units there at the moment.

  • Betty

    Hi there,
    I am a NZ citizen with a mortgage at Westpac NZ and plan to move to Melbourne next year. We are planning to keep our house in Auckland as a rental property. Will it be best to get a mortgage through Westpac in Australia too if we were to buy a property in Melbourne? Would you recommend us setting up a draw down facility before or after we leave NZ to use it for the deposit for the property in Australia? Thanks in advance :)

  • Hey Betty,

    It would be good to get a mortgage through Westpac but if another lender can offer you a better deal or be more flexible with their policies then that will likely be best. We recommend you set up a draw down facility before you leave NZ as this will make lending easier than it would if it were set up afterwards.

  • Lynne

    I am buying a house off a plan and want to apply for the First Home Loan payment. I have lived in Brisbane since 2009. What evidence do I need to verify my residency in Australia as a SCV holder?

  • Hi Lynne,
    It depends on if you apply via your mortgage broker or with the government. Usually a NZ Passport is fine for SCV evidence.

  • Adrian

    Hi There

    I am an NZ Citizen looking to buy property in Brisbane planning to move my family, Can i get home loan to buy house while working in New Zealand. with 20% deposit If yes, Can any one tell me how to proceed with it

  • Yes you can do this. There’s a few complications but we can guide you through it.. Best to fill in this form and one of our nz specialists will assist.

  • Lynne

    Hi again. I am confused, there seems to be conflicting information about eligibility. For example, NAB says Australian Citizen on their website. However, the govt websites refers to Section 32 of the Migration Act. If I applied through a mortgage broker why would the eligibility criteria be different?

  • When a First Home Owners Grant (FHOG) is submitted via a bank or mortgage broker then it is an ‘approved agent’ application and the information required is less than when it is submitted with the government directly.

    When applying for a home loan the documents required are the same no matter if it’s via a bank or mortgage broker.

    NAB recently changed their policies for 457 visa holders and foreign citizens living overseas and they would not normally be our first choice of lender. They can now only lend a maximum of 60% of the property value and have restrictions on the types of home loans you are eligible for. Specifically this means you will not get as good an interest rate.

  • Petr


    My parents have property in New Zealand and they still have mortgage running on it. Is it possible for me to use their house as a deposit or whoever it works to buy first house in Melbourne?


  • Hi Petr,
    Your parents would need to apply for a loan from a lender in NZ and then lend this to you as a deposit.
    Banks in Australia often require you to have genuine savings or they have a policy which prohibits a borrowed deposit
    We have some lenders that can accept this, in particular if you have a good rental payment history this shouldn’t be a problem.

  • David Nurrish


    I am a British citizen, living in New Zealand but currently hold a Australian Permanent residence class visa (exp 2019). I plan to return to Perth in around 5 years permanently but looking to buy a house asap. Do you organise a mortgage with a NZ bank or an Aus bank in this case? On a property that is roughly $450,000 what deposit is needed. Thanks

  • Hi David,

    Yes you can qualify for a loan, it would need to be with an Australian bank. Typically you’d be able to borrow 80% of the property value so you’d need around 24% of the purchase price as a deposit and to cover costs like stamp duty. If you’re ready to buy then please complete this form and our brokers will call you to discuss your options.

  • Lana

    Hi, we are NZ born citizens living in Gold Coast. What is the minimum deposit we need to obtain a loan? Properties value 350-500k

  • Hi Lana,
    You can borrow 95% of the property value plus LMI with some of our lenders

    If you buy a new property you may get a $20,000 grant and waived stamp duty in QLD, although I think this may be ending soon. That means you would need just $5,000 or so to complete the purchase. Just avoid construction if you can, it’s a total mess and most people regret building a home. It’s better to buy a new complete home instead.

    If you’re not buying new then you’ll need approx 5% of the purchase price as a rough guide. One of our mortgage brokers can complete a more accurate assessment if you would like our help

  • Francy

    I am a New Zealand citizen and I have inherited a property in New Zealand but have been living in perth the past 9 yrs. Can I use my property in NZ as collateral to buy a property in australia?

  • Hi Francy
    You’d need to borrow on the nz property using an nz bank. Then bring this to aus as a deposit and you can get a loan here for the remainder.
    Unfortunately you cant use a nz property as additional security as it’s too hard fot our banks to set up a property as security overseas.

  • Nav Sidhu

    Hi there, I am a NZ citizen who is looking at investing in Aus. I am a relatively high-income earner and own my own home in Auckland that has a revolving credit facility for me to borrow a deposit (with HSBC NZ, currently owing $0). I used to live and work in Aus so have a TFN and have maintained an active bank account with CBA.

    My questions are:
    1. What is the minimum deposit usually required for an investment property? I am budgeting for 20%. Do you lenders offer 10% at similar interest rates or is there a premium because of the lower deposit?

    2. I asked CBA if I cold borrow from them and they said they don’t lend to foreigners living out of Australia, even NZ citizens. HSBC NZ said they would lend me the money, with 20% deposit. Their NZ rates are 4.2-4.4% for 1-2 years, which looks pretty similar to what some big banks are offering after discounts. Would it be better to go with an Aus bank or a NZ bank?

    3. The info you provided said that the foreign buyers levy won’t apply ONLY if the NZ citizen is in Aus at the time of settlement. What time period does this involve exactly? Only a few hours on the day of settlement? The day + 1 working day either side? Am asking because it’s not easy for me to miss work.

    Sorry for the questions. I am serious and am keen to know what you guys can offer. Am happy to talk to someone personally. Cheers.

  • Hi Nav,
    Thanks for the detailed post.
    1. I’d say in your situation we could help you to borrow 85% of the property value and you’d get the same rates as Australian investors. At 80% there are more lenders available and so we’d get you a slightly better rate but it’s not a major difference.
    2. That’s correct CBA do not lend to any foreign citizen living outside of Australia, including kiwis! I think this is a very backwards policy however it is something they are very strict on. The rate from HSBC fixed for 1 or 2 years isn’t competitive we can get a better rate from another lender. Also you need to consider which lenders have the non-resident withholding tax and which don’t. Our brokers can explain this if you’re proceeding but it’s really just something for us to consider when recommending loans to you.
    3. I can’t be 100% sure about this but I believe at the time of settlement. E.g. settlement is at 3pm and you are there at 3pm then it’s ok. Best to ask the state government of the state you are buying in. They all have help lines about stamp duty.
    I agree it’s best to talk to one of our brokers on the phone and get a more accurate assessment. If you complete this then one of them will call you

  • Damian Lombard

    I’m a New Zealand citizen. I have recently moved to the UK for two years then I’ll be heading back to the NZ. Firstly, is it possible to purchase a house while im in the UK? Is it possible to use the NZ superannuation in Australia? If not, once I’m back in nz I will purchase a house in NZ can I then use the equity on the house plus a bit of savings to purchase a house in Australia, mainly the NSW area. How would I go about this? Many thanks DL

  • Hi Damian,
    As a NZ citizen living in the UK we can assist you to buy a property in Australia but we can’t assist with buying in NZ.
    We’d need to assess your situation on a case by case basis as a NZ citizen living outside of Australia or NZ is acceptable to only a handful of lenders. If you’d like our help then complete this as long as you meet those lenders criteria then you’d be ok to buy now. Likely you can borrow a max of 80% of the property value.
    If you plan to buy in NZ first then yes you can release equity later to buy a property in Australia however both NZ’s policies around releasing equity and Australia’s policies for foreign investors are very likely to change in the next few years so it’s hard to say how easy or hard it would be in the future.

  • Ivy Tsang

    im a nz citizen thinking to get an unit/apartment in nsw as investment but will be used for retirement later on, im with ASB bank in Auckland, just wondering if we are living in nz how we going to make repayment for the homeloan in aus?

    btw is there any special homeloan requirement for unit or apartment purchase?


  • Hi Ivy,

    When we set up the home loan in Australia we’ll also set up an Australian bank account. Your rent will be paid into this account and you can top it up by transferring money from NZ every now and then. It’s quite easy to do. The money in the Australian account will offset your home loan so it will save you interest as well.

    When buying an apartment there are some restrictions on
    inner city units & high rise units (>4 stories)
    Units < 50m2
    And unusual property types such as serviced apartments

    Before you make an offer on a property you can check with our team and they'll confirm that the property is acceptable security for the lender.

    Just make sure you are in Australia on the settlement day as then you are a Special Category 444 visa holder (Permanent Resident) and so you will avoid paying the foreign investor stamp duty (Additional 3% in NSW).

    If you'd like our help to buy a property then contact us here

  • Ivy Tsang

    thank you very much, will contact when we are ready for making a purchase

  • Terry

    If someone was a permanent resident of New Zealand (lived here for 25 years) but hasn’t obtained citizenship will they be able to get funding for a property on the goal coast for investment purposes?
    How much can they borrow and will they also be exempt for the additional stamp duty if they are in the country on the day of settlement.

  • Hi Terry
    Unfortunately you’d pay the additional stamp duty as you don’t have Australian PR or citizenship.
    For a loan it would be case by case. We’d try to argue the case to get you assessed as a NZ citizen however they may assess you as a foreign investor which would mean a higher rate and larger deposit is required.
    We like a challenge, if you’re happy to send us all of your documents then we’re happy to investigate this for you and work out what can be done. Please contact us if you’d like our assistance

  • getty

    I am not a NZ citizen but my wife is. I am here on a 461 visa and I would like to know if I can borrow just as an NZ citizen can because of this.

  • If you’re on a 461 visa, you can borrow up to 95% of the property value. To qualify, you must be a part of the ‘family unit’ of a New Zealand citizen living and working in Australia on a temporary Special Category visa (subclass 444). Alternatively, they could be travelling with you to Australia and will be granted a 444 visa on arrival. Bear in mind, the bank will want you to be fully approved for the 461 visa when you apply for your home loan.

  • amy

    hi, expert
    my husband and i both are NZ citizens. we are looking to buy n investment property in Melbourne. We are both business owners in NZ, we’ve enquired with the big four banks in Aus, only ANZ said it would consider self-employed income, why is that? We do prefer big banks than some private funds for small lenders, do you have other banks that will consider lending to us? we are only looking to lend about 70-80%.
    thank you


  • Hi Amy,
    Self employed is a challenge unfortunately as banks have had a lot of trouble with foreign investors who are self employed. NZ citizens aren’t a high risk but have been assessed in the same as other foreign investors by some banks. We can help you to borrow 85% approx. If you’d like our help then please contact us

  • angela

    Hey there,

    I own a property in new zealand and my family now live in it, its paid off and ive been living in melbourne for 6 years, im thinking of buying a property here but would like to know if i am able to buy a house here using my property back in new zealand as collateral?


  • Hi angela,
    Unfortunately, Australian banks can’t take a foreign property as security for a home loan. This also applies to property owned by anyone acting as your guarantor. Please call us on 1300 889 743 or leave us an online enquiry and one of our experts will contact you instead. You can enquire online through here:

  • Hi David,
    This is a complex one as NZ citizens living outside of NZ or Australia are assessed on a case by case basis. I expect you’ll be able to borrow 80% of the property value. We’d need your full details to complete a full assessment.

  • Thomas

    Hi! My wife and I are both NZ citizen living in Australia. We currently have mortgage in a house where living Australia and a mortgage in NZ for a rental property. Our NZ rental property’s equity has substantially gone up. Can we access this equity in order to invest in a rental property in Australia?

  • Hi Thomas,
    We couldn’t be sure about NZ lending rules as we only lend in Australia. We’ve heard mixed reports from our clients with some saying it cannot be done and others saying it is ok to release up to 60% of the property value.
    I’d recommend that you call a NZ mortgage broker to discuss your situation. We can help you once you have the deposit brought over from NZ.

  • anon

    Hi we are NZ citizens migrated to Queensland have been here 3 months. My husband is self employed yet contracts to internationally operating NZ based company. We want to buy investment property, we have $100k toward deposit are there any ways to speed up home loan pre approval?

  • Hi there,
    Yes if he is a self employed contractor to one main client and just provides his labour then we can get him assessed as PAYG as an exception to normal lending policy
    That means he can get approved now, at a fantastic rate, without having to wait to be 2 years self employed. NZ citizens can qualify for this exception so we should be fine.
    If you’d like our help then please contact us

  • anon

    Thank you! Just sent an email with more info for your team. Cheers

  • Best of luck with your new home

  • Joe

    Hi, we are NZ citizens looking to buy a home in Brisbane. We can pay a 40% deposit. We have 2 daughters working in NZ. Do we qualify for First Home Owners Grant (FHOG) ? Can my daughters get a loan to purchase the home?

  • Hi Joe,
    Yes as NZ citizens you can qualify for the FHOG as long as you meet the other criteria.
    Your daughters can qualify to buy a property even though they are living and working in NZ, typically they could borrow 80% of the property value but possibly more on a case by case basis.
    If you’d like us to compare some options for you then please contact us

  • Joe

    Thanks for your quick response. May we know what are the other criteria for the FHOG? We are planning a trip to Brisbane to view some houses. Do you have an office in Brisbane? Thanks

  • We mostly work online so we can approve your loan without any problems. Our head office is in Sydney because most of the bank’s have their head offices here.
    We’ve got an article on FHOG criteria here however you should contact the QLD OSR for specific criteria for your purchase

  • Jo An

    Hello , Me and my family living and working in NZ and holding NZ citizenship , I got a permanent job offer there and We will be moving to Brisbane with in next 2 months and my wife will start looking for a job after we arrived.

    we got nearly $30k deposit and looking to buy a house in Brisbane surroundings , can we get a home loan immediately after arrival in AU , we got good credit records in NZ..Please advise us

  • Hi Jo,
    You can buy a property when you arrive if your income is enough to afford the loan. If your wife’s income is required then you’ll need to wait for her to find a job as well.
    Being new to the country (no credit history in Aus), being a NZ citizen and being on probation at your jobs are all potential problems for our banks. Assuming everything else is ok I expect we can help you to buy a property though as we have some banks that can accept this combination.
    When you’re ready to buy please contact us.

  • Ren

    Thanks for your reply , my income will be around $65k and hope we get the grant and low interest rates ? also we may get some further help from parents for deposit

  • Yes you’ll be eligible for the grant and low interest rates. A larger deposit will definitely help. Borrowing 80% of the property value is ideal. However few people can do that so borrowing 90% is a good mix of reducing the funds required and not paying too much in LMI.
    Borrowing 95% is the max that is possible.

  • Matt

    Hi there,

    Me and my wife are currently living in NZ but are looking at buying our first home in Brisbane. My wife is an Australian citizen i am an NZ citizen. Our deposit is tied up in our kiwisaver scheme(is there anyway to use this to buy our first home in aus). Does my wife still qualify for the first home buyers grant even though she is living in NZ? or what % deposit will we require under our circumstances?


  • Hi Matt,
    I’m not sure if you can access the Kiwisaver as I’m not familiar with it. Usually if you’re leaving the country permanently then savings schemes allow you withdraw the funds.
    You can qualify for the grant if you move in within the first 12 months.
    We’d have to assess your situation to be sure what percentage of the property value you can borrow. Typically 95% if you’re living in Australia with jobs in Australia and 80% to 85% if you’re living in NZ.

  • Yassmeen

    Hi There

    My parents live in NZ (Auckland) they own two houses there and would like to buy an investment property in Melbourne for me to rent off them. Is this possible? What steps do they need to take to begin the process?


  • Hi Yassmeen
    Yes this is possible. They can borrow 80% of the value of an investment property in Australia relatively easily. Higher on a case by case basis.
    If they have a deposit then they can contact us now
    If they don’t have a deposit then they should refinance one of their properties using an NZ mortgage broker and then contact us once this has been completed.

  • Yassmeen

    Thanks for your reply. Yes they do have a deposit ready to go I will pass on the contact information to them

  • Yassmeen

    Is there a contact number or email I can pass onto them?

  • Yes they can call us from NZ on +61 2 9194 1700. If our brokers aren’t available then they can complete this and we’ll call them back.