Home Loans for Foreign Investors in Australia

Very few people are aware of the fact that Foreign Investors are also eligible to get home loans in Australia. However, it is important to check with the bank which has credit policies for non-resident people looking for home loans. Generally, most of the building society and financial institutes do not give out loans to non-residents and foreign investors. This is because that they are not comfortable with the risks associated with home loans or any type of mortgage. Secondly, they do not have systems to support and manage home loans for overseas people. This makes the entire process a bit complicated for the banks and financial bodies. But there are number of banks in Australia that offer home loans to non-residents and do require additional supporting documents.

Being a foreign Investor, If you are looking for a home loan in Australia, you must know which banks offer these loans as the first step. Then, you need to get familiar with Australian home loan interest rates. Below mentioned are some of the basic details of home loans for overseas people in Australia:

•    You will get the 80% of the total value of property as a home loan if you are not a resident.
•    The only property in Australia is considered as a security.
•    In order to adjust exchange rate fluctuations, only 80% of the income is assessed by the lenders in Australia for home loans.
•    The credit history must be free from non-payments and defaults if you want to get an approval for home loans in Australia.

The best way is to contact a mortgage specialist who has complete information about banks offering these loans. He would make you aware of the interest rates for home loans in various banks and would help you get the best home loan rates in Australia.

There are various loan providers in Australia who have their official websites. You can easily find them online and get all relevant information.