Every lender has different view’s for expat lending capacity, with variables being the country you are working in, your employment status ( Self-employed, Employee or contract), the purpose of the property ( tenanted or vacant) and the amount of debt/ commitments you may already have here or overseas.
Important to keep in mind:
• Nearly all lenders will shave your income by 20% to allow for overseas taxes, currency transfer fees and risk.
• Some lenders will require an accountant’s letter and confirmation of your employment/ Self-employed status to ensure you’re paying tax.
• Government grants and incentives will not be possible for First Home Buyers, due to being domiciled offshore. Although if you return back to Australia to reside in the property within the the time frame you can apply retrospectively.
• It can be very challenging to achieve a loan approval, if you are Self Employed overseas.
