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Foreign income

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ljbl View Drop Down
Newbie
Newbie


Joined: 17/July/2018
Location: Australia
Posts: 1
  Quote ljbl Quote  Post ReplyReply Direct Link To This Post Topic: Foreign income
    Posted: 17/July/2018 at 06:45
Hi team,

My husband and I are Australians living in the US. We are moving back to Australia soon and want to buy a house ASAP, possibly before we move back. Does anyone know any particular banks that don't charge crazy amounts of interest on foreign income?

Thanks!

citizen-joe View Drop Down
Senior Member
Senior Member


Joined: 09/October/2005
Location: Australia
Posts: 646
  Quote citizen-joe Quote  Post ReplyReply Direct Link To This Post Posted: 17/July/2018 at 19:24
You may have a problem, the revelations of malpractice that have come out of the Australian Banking Royal Commission have resulted in all Australian banks tightening up their lending practices. The result of this is almost, that unless you can prove you don't need a loan the chances of getting one are very slim.

The fact that you wish to use income that the bank may have difficulty, 1 verifying and 2 accessing if things go wrong, suggest to me that you may have your backs to the wall.

All I can suggest is that you ask them, and that you try to find an independent broker. Alternatively as you are in the US, is there any chance you could obtain a loan there to purchase an Australian property?

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