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Overseas Borrowers

Overseas borrowers fall into 2 categories:

Australian citizen or Permanent Resident living and working overseas, but purchasing in Australia.

Historically, lenders have been a little more conservative when financing Australians living overseas. That is, they would lend no more than 70-80% of the value of the property. Better Choice Mortgage Services now has mainstream/tier 1 lenders, lending up to 90% and above of property value for Australian’s living overseas.
The majority of loan types within the suite of products are available to Australians living abroad. Restrictions do exist if you wish to borrow on an Alt Doc basis.

Foreign nationals with no Australian residency who wish to purchase and finance property within Australia.

There are lenders on Better Choice’s panel that will finance foreign national borrowers. Lenders normally will cap their exposure to 70-80% of the property value. If a foreign national wishes to purchase an Australian property they will require approval from the Foreign Investment Review Board (FIRB). FIRB information is available at www.firb.gov.au.  Foreign nationals are generally restricted to purchase newly built properties, or undertaking block and build.

Loans/features that may be suitable for your situation include:

Professional Packages  I  No Frills Loan  I  Fixed Rate Home Loan (FRHL)  I  Line of Credit Home Loan (LOC)  I  Standard Variable Home Loan  I  100% Offset  I  Introductory Rate Home Loan (IRHL)  I  Combo Loan  I  Redraw  I  Deposit Bonds

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