Working overseas? Earning foreign currency? Returning to Australia? Get approved with lenders who understand international income.
Different expat situations require different lending approaches.
You're an Australian citizen or permanent resident working abroad temporarily (1-5 years), earning foreign currency. You want to buy property in Australia while overseas or before returning.
You've been working overseas for several years. Now you're returning to Australia and need a home loan. You may or may not have a job lined up yet.
You live in Australia but work remotely for an overseas company. Paid in foreign currency (USD, GBP, EUR, SGD, etc.) into foreign or Australian bank account.
You're not an Australian citizen or PR holder, but want to buy Australian property. This includes temporary visa holders (482, 457, student visas) and non-residents living overseas.
Foreign income assessment varies by lender. Here's what you need to know.
Singapore Salary (SGD)
$180,000 SGD
Senior accountant, 3-year contract
Conservative lenders (CBA, Westpac): Use 6-12 month average exchange rate, apply 10-20% haircut for currency risk
Moderate lenders (NAB, ANZ): Use 3-6 month average rate, apply 5-10% haircut
Flexible lenders (Macquarie, specialist): Use current rate or recent average, minimal haircut for stable currencies (USD, GBP, EUR, SGD)
Permanent role with multinational company (Google, Shell, mining companies, etc.). Treated similar to Australian employment - just need current contract and payslips.
Multi-year contract with at least 24 months remaining. Lenders comfortable with 2+ years runway. Need contract and evidence of renewals if applicable.
12-24 months left on contract. Some lenders concerned about renewal risk. May need letter from employer about renewal likelihood or history of previous renewals.
Less than 12 months remaining. Most lenders won't approve unless you have confirmed Australian employment to return to, or can show this is normal for your industry with consistent renewals.
Not all lenders accept foreign income. Here are the most expat-friendly options.
LVR up to
80%
Best for: Australian citizens working overseas on professional contracts. Most flexible with foreign income.
Expat-Friendly Features:
LVR up to
70%
Best for: Returning expats with confirmed Australian employment.
Expat-Friendly Features:
LVR up to
70%
Best for: Australian citizens/PRs working for major multinational companies.
Expat-Friendly Features:
LVR up to
60-70%
Best for: Complex situations - non-residents, temporary visa holders, FIRB purchases.
Expat-Friendly Features:
You don't need to be in Australia for settlement. Options: (1) Grant power of attorney to a trusted person in Australia (family member, solicitor) to sign on your behalf, (2) Sign documents at Australian embassy/consulate in your country, (3) Use digital settlement if lender permits. Your broker and solicitor will coordinate. This is routine for expat purchases.
Yes! Lenders accept overseas savings. You'll need: (1) 3-6 months foreign bank statements showing the balance, (2) Evidence of currency conversion/transfer to Australia, (3) Explanation of source if large amounts (salary savings, bonus, inheritance, etc.). The funds need to arrive in your Australian account before or at settlement. Budget for currency conversion costs and international transfer fees.
Lenders assess your ability to repay over the loan term (25-30 years), not just your current contract. They want to see: (1) You're planning to return to Australia and work here, OR (2) Your overseas role is renewable/ongoing, OR (3) Your skills are in-demand (you'll find work regardless). If your 2-year contract ends, lenders expect you'll either renew, find similar work, or return to Australia. The concern is if you have no plan beyond contract end.
Tax residency is complex - consult an accountant. Generally: If you're temporarily overseas (< 2 years) with intention to return, you may still be Australian tax resident and need to declare foreign income. If you're a non-resident for tax, you don't pay Australian tax on foreign income, BUT you pay higher tax rates on Australian rental income (if buying investment). This affects after-tax cash flow calculations. Lenders don't require you to be tax resident, but it impacts your numbers.
Yes, this is very common. Many expats buy Australian investment property while working overseas - builds equity while earning high foreign income. Rental income helps serviceability. Key points: (1) LVR typically capped at 70-80% for non-resident investors, (2) Must have Australian bank account for rental payments, (3) Need property manager (you're overseas), (4) Consider tax implications of rental income as non-resident. This is a smart wealth-building strategy for many expats.
Temporary visa holders (482, 457, etc.) face restrictions: (1) May need FIRB approval depending on visa type and property type, (2) Higher deposits (20-30% typical), (3) Fewer lender options, (4) Must have at least 12-24 months remaining on visa. Path to PR helps significantly - if you're in process of PR application, some lenders more flexible. Once you have PR, refinance to standard rates and LVRs.
Before applying, make sure you have:
Employment documentation: Current contract, payslips (6-12 months), letter from employer
Currency evidence: Bank statements showing foreign currency income and AUD conversion
Deposit savings: Evidence of 20-30% deposit (ideally in Australian bank account or ready to transfer)
Citizenship/residency: Passport, PR visa, or evidence of Australian citizenship
Return plans: If on fixed contract, evidence/letter about renewal likelihood or plan to return to Australia
Power of attorney: If settling remotely, arrange POA with solicitor or trusted family member
Working with an expat-specialist broker makes all the difference. We know which lenders accept foreign income, how to present your application, and can coordinate remote settlements.
✓ Australian citizens & PRs overseas • ✓ Returning expats • ✓ Foreign income in Australia • ✓ Temporary visa holders