Purchasing property is always an exciting but hectic time, and when buying from overseas these stresses can become exacerbated. It’s important to plan and prepare before you decide to purchase to ensure that the process goes as smoothly as possible.
Some lenders will require that your ID be certified at the Australian High Commission. It can sometimes take 3-6 weeks to book an appointment at the High Commission so planning ahead can be key. By having this completed during the pre-approval stage, you can have more flexibility in negotiating your settlement terms if the purchaser requires a shorter settlement period.
The basic steps when purchasing a property from overseas remain the same as back home.
Upon recommendation of a lender we will submit the application on your behalf.
We will collect these via a secure upload link to make the process as easy as possible for you.
Once we have gained formal approval (typically around 7 days depending on how soon the valuation is complete) contracts will be prepared. These can generally be witnessed by us if your ID has already been completed with the lender during a pre-approval. If not we can help co-ordinate an appointment at the High Commission, or find another appropriate witness for your ID and documents.
It is a fact that some banks and lenders are more expat friendly than others, to the point where some lenders are penalising clients for living overseas by increasing their existing loan interest rates when they become aware of your change of residency. They may also refuse to pass on additional discounts or assist with restructuring of your loans while you are overseas.
It is important to know your options and to shop around to know you are getting the best deal you can.
We are more than happy to have a chat and review your existing arrangements, even it is to simply give you peace of mind with the loans you currently have in place.
We’ll meet either in person or remotely at a time of your choosing, and get to know you and your goals
We will provide you with in-depth options of what lenders would suit you and your goals, and give you the best deal
We collect all of your application documents through a secure, easy to upload portal to help make the process easier and ensure nothing is missed
We’ll manage all of the negotiation with the bank during the approval process to make it as easy as possible for you
We will help by stepping you through the signing and witnessing of your loan documents while overseas, as well as assist in the co-ordination of your property settlement
Buying a property can be a daunting experience. In our case, it was our first home and we were looking to purchase in Australia while living as expats in Singapore.
After our original broker secured us a less than ideal loan we were fortunate enough to be introduced to Tim. He looked at our financial position and immediately said “I can get you more at a better rate”.
His knowledge of the industry and insight into the expat mortgage application process gave us complete peace of mind and ultimately secured us a far better loan than we could have imagined. He was available at all hours to answer any questions and kept us updated daily.
We cannot recommend Tim highly enough.
We purchased a new property in Australia as expats in Hong Kong. Despite already owning a number of properties, neither the banks nor mortgage brokers at home were overly keen or able to assist in helping obtaining a new loan (even brokers specializing in expat loans from Australia).
I contacted Tim via LinkedIn for some advice, and my partner and I were both extremely happy with his services. What first presented as a complicated task was made simple by Tim. He explained things clearly and guided us through the process to a great end product without any delays to settlement. Most importantly, he was always available whenever we needed help with something or had a question. Although the Australian banks have offices in Hong Kong, the help they can offer is surprisingly limited. The services of a knowledgeable broker are absolutely invaluable in this process.
We have absolutely no hesitation in recommending Tim to any fellow Australia in Asia for all their mortgage needs.
Tim has done an absolutely amazing job for my in laws, in what seemed like an impossible situation. Tim kept in contact with updates and reassurance, no matter how busy he was or what he had on. We highly recommend Tim and Aussie Expat Home Loans services.