Frequently Asked Questions: Australian Home Loans For Aussie Expats in the UAE

Australian expats living in the UAE often dream of buying property back home. However, getting a mortgage from overseas can be difficult, as Australian lenders have strict requirements for expat borrowers’ income and employment.

This FAQ guide answers some of the most common questions asked by Aussies in the UAE who are looking for financing for an Australian property purchase. 

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FAQs About Australian Home Loans for Aussie Expats in the UAE

As an Australian citizen living in the UAE, you can qualify for an Australian home loan to purchase property, provided you meet the lender’s eligibility criteria regarding income, assets, credit history etc, however more documentation is required to verify foreign income.

Documents required for an Australian home loan application from the UAE include income statements, ID, living expenses, the property purchase contract, and potentially an Australian Power of Attorney authorization for legal matters.

If you have dual Australian-Emirati citizenship, you can qualify for an Australian home loan, however some lenders treat dual citizens as foreign borrowers which can limit options, so find a lender that recognizes your Australian citizenship.

Australian expats in the UAE can access variable, fixed and interest-only home loans, with Australian citizens able to access better rates, while UAE citizens may face higher interest rates from Australian lenders.

While a 20% deposit is recommended, Australian expats may qualify for 5-10% deposit loans from the UAE. However, UAE citizens usually need a 20% minimum deposit as foreign buyers.

Yes, as an Australian expat you can access standard Australian home loan interest rates, however UAE citizens will likely pay higher mortgage rates from Australian lenders.

Many lenders will use 100% of foreign income when assessing borrowing capacity, however some apply an 80% discount to UAE earnings when calculating an expat’s serviceability.

Lenders consider all living expenses, debts, school fees plus costs associated with buying and holding the property when determining an expat borrower’s affordability.

UAE citizens looking to purchase property in Australia must obtain FIRB approval, have a 20% deposit, strong credit history, proof of income, meet age requirements, and satisfy other eligibility criteria as foreign property investors.

No, UAE buyers will be treated more conservatively by Australian lenders in terms of borrowing capacity, however strong UAE income can still provide reasonable borrowing power.

A favorable AED exchange rate can positively influence affordability assessments for Australians purchasing property from the UAE, however impact varies between lenders.

Foreigners can buy new dwellings, established dwellings for redevelopment, and vacant land for development in Australia. They cannot buy established dwellings for investment, commercial properties, or agricultural land. There are also restrictions on the amount of property that foreigners can own.

To buy property in Australia, foreigners must apply for approval from the FIRB. The FIRB will consider a number of factors when making their decision, including the type of property you are buying, the location of the property, and your intentions for the property.

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