Buying or refinancing a property in Australia as an Australian citizen living overseas (‘Australian expat’) is rarely simple. Many Aussie expats are paying more than they need to on rates set years ago, often because their original lender no longer offers competitive pricing for non-residents. Refinancing that loan is more straightforward than most people expect.
The team at MAP Home Loans works with the lenders who assess your real overseas income rather than shading it, which usually determines both your rate and how much you can borrow. A well-structured refinance can save thousands over the life of the loan and free up equity, depending on your rate, balance, and how long you hold the property.
Australian citizens living abroad are often told by their bank that a non-resident is capped at 80% LVR (loan-to-value ratio), which ties up capital unnecessarily. In our experience that’s not the whole picture. We regularly place expat home loans for Australian citizens living across a wide range of countries (including Singapore, Dubai, London, Hong Kong, and Shanghai) at an LVR above 80%, and up to 95% for the strongest cases.
For the full picture on buying rather than refinancing, see our main Australian expat home loans page.
The table below summarises our maximum lending ratios:
| Borrower type | Maximum lending ratio |
|---|---|
| Australian citizens living and working abroad, paid in a foreign currency | 95% plus Lenders Mortgage Insurance (LMI) |
| Australian citizen working overseas but earning or paid in AUD | 95% + LMI |
| Australian citizen and foreign spouse living and working abroad | 95% + LMI |
| Australian permanent resident living and working overseas | 90% + LMI |
| Foreign nationals living and working abroad | 80% |
Bank policy on home loans for non-residents varies enormously, with competing lenders applying very different credit policies and lending criteria. That difference can mean one bank approves the loan while others decline it, reduce the amount, or demand a larger deposit. For example, some lenders will:
MAP Home Loans understands the non-resident lending policies of the Australian banks and non-bank lenders. We match your situation to the lenders most likely to approve your loan the first time, at a competitive rate. That first-time approval matters: every declined application leaves an enquiry on your credit file. Our service is free to you, because the lender pays us, not you.
In this short presentation, Craig Vaughan of MAP Home Loans covers the financing options available to Australian citizens living overseas and earning foreign income. He walks through bank policy and practical examples, with a specific focus on the deposit required.
Daniel was a busy expat living and working in Singapore, earning Singapore dollars (SGD).
As a busy expat living in Asia for many years, I know how important it is to rely on contracting professional services focused on their game and who go the ‘extra mile’.
Craig Vaughan from MAP is an experienced and connected mortgage broker. He listened to my requirements, supported my preferred criteria’s and communicated clearly with my solicitor.
Within a few months I became the owner of my first property in the Northern Territory – a strong growth corridor in Australia.
Let Craig help you find the best finance for your next property purchase. I highly recommend his services!
– Daniel
Want to check what refinancing could save you? Get a refinance plan built around your expat income, in less than 30 minutes. No cost, no obligation.
Written & reviewed by Craig Vaughan, Director & Mortgage BrokerMFAA 47419 · Credit Representative 577691Last reviewed
