Non-resident Home Loans 

Non- resident loans are designed for foreign nationals, Australian expats and Australian temporary residents. First of all you will need to apply for approval to buy a property in Australia from the foreigners investing review board ( FIRB ), generally speaking the conditions are;

1. Can not buy a existing residence - must be off the plan or in construction.  ( however temporary resident can buy as main resident subject to approval)

2. If it's a brand new construction , and the loan is for the land only, the building must start construction within 24  month

3. Property must be for investing only

4.For redevelopment - you can not rent out the existing building, only the newly built one can be rented out. 

5. Subject to FIRB discretion- property and investment type, size and amount will be determined

We at shape home loan understand buying a property is not easy and is a huge investment, investing in a foreign country is even more daunting. So talk to us and we can help you through this complex process. 

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Benefits:

·          Potential for Higher Rental Yield 

·          Australia's economy is considered as AAA rating. 

·          You Own the land you buy (torrens title) 

Points to Consider:

·          In term of finance, LVR ( loan to property ratio) is max 75%

·          MUST have FIRB approval prior to buying or applying for finance 

·         Must take in consideration different exchange rates when disclosing finance.