Australian Expat Mortgages for Expats in Macau
The Odin Mortgage team has experienced brokers who can help you find the right Australian expat home loans.
- Australian Mortgages in Macau
- Quick Online Application Process
- No-fee Service & No Obligation To Proceed
Australian expats in Macau are eligible for the same loan features and terms as anyone in Australia.
Discover more about mortgage opportunities for Aussie expats in Macau.
Australian Expat Mortgage in Macau
Here is everything you need to know about expats in Macau finding Australian home loans.
Loan Types: Variable, Fixed, or Interest-Only
Australian expats can enjoy different loan types, from variable interest to fixed rate mortgages. Additionally, Aussies can opt for interest-only home loans. Lenders also offer guarantor loans to expats in Macau, so you can borrow up to 105% of the property value.
Choose the home loan that’s right for you.
Loan Size and Term
With no maximum loan size, Australians in Macau can borrow up to 90 - 95% of the property value with most loan options. Moreover, you’re eligible for the maximum loan term of 30 years.
Macanese nationals might get a home loan up to 70 - 80% LVR.
Home Loan Package: Offsets and Redraw
Home loan features, such as offset, redraws, and lines of credit, help home buyers pay back their loans more quickly. Plus, you can reduce your overall interest payments by making early repayments without incurring penalties.
How Do Lenders View Macanese Pataca?
Macanese pataca is a tier 2 currency in Australia, it’s relatively unfamiliar. Therefore, lenders might not consider your entire net income. As an expat in Macau, expect lenders to look at about 60 - 80% of your foreign income.
Pros and Cons
Take a look at the pros and cons of home loans for expats in Macau.
| Pros | Cons |
|---|---|
Australian expats in Macau have the same home loan options as other Aussies around the globe. | Macau currency is not familiar to Australian lenders, therefore expats might struggle to prove their borrowing power. |
Specialist Australian lenders are willing to lend to expats in Macau and Macanese nationals with competitive interest rates. | Expats might need a licensed professional to translate Macanese documents into English for Australian lenders. |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Mortgage Features
Here are the main mortgage features of an Australian expat home loan in Macau:
| Feature | Details |
|---|---|
Deposit Size | Australians should ideally raise a deposit of around 20%. However, many lenders will offer loan products with 95% LVR, requiring only 5% deposits.Macanese borrowers might need a 30% deposit. |
Borrowing Power | Australian lenders typically apply their own tax rates to foreign income, impacting your borrowing power. |
Repayment Options | All borrowers should enjoy flexible repayment options, including weekly, fortnightly, or monthly. Choose the repayment plan that suits your overseas lifestyle. |
Interest Rates | Australian lenders offer competitive interest rates to Australian citizens and those in Oz alike. You might have to pay higher fees and charges to account for overseas borrowing. Macanese borrowers might face higher interest and comparison rates too. |
Key Facts
2,500 Australian expats live in Macau.
Australians in Macau might have to pay double tax as there is no tax treaty between Macau and Australia.
Aussie expats in Macau can borrow up to 95% of their property purchase price.
Applying for Australian Mortgage in Macau
When applying for an Australian mortgage as a Macenese or expat in Macau, you’ll need to meet the lender’s eligibility criteria.
Eligibility
Make sure you apply with a lender who specialises in home loans for Australians in Macau.
- A good credit score or history of making repayments on time.
- Australian citizenship (if you’re an expat).
- 20 – 30% deposit if you’re a Macau national.
- Over 18 years of age.
Documents required
- Two forms of income verification, such as recent payslips, an employment letter, or a tax return.
- Form of identification, such as a passport, driver’s licence, or birth certificate.
- Details of your expenses, such as other credit liabilities and living costs.
Other Considerations
Double Taxation Agreement
Macau charges a maximum 12% personal income rate while Australia’s top rate is 45%. Unfortunately, Australia and Macau do not have a Double Tax Agreement. Therefore, if you’re a tax resident of both countries, you might find yourself paying tax twice on the same income.
FIRB Approval
Australian expats in Macau don’t need to apply for FIRB approval to purchase property in Australia. Macanese nationals will. However, restrictions don’t apply to Australian citizens married to foreign nationals.
Stamp Duty Surcharge
Australians do not need to pay the foreign ownership stamp duty surcharge unless they are married to a non-resident. If jointly purchasing with a foreign national, then they will have to pay a surcharge of 7 – 8%.
We also provide expat mortgage services in the following countries
Frequently Asked Questions
Australian expats can buy a house in Australia without facing any restrictions. However, not all lenders will consider foreign currency. You will need an expert Australian expat mortgage broker to help you find the right lender. Odin Mortgage will provide you with all the information you need. Get in touch today!
Australian expats can borrow up to 90 – 95% LVR if they can supply sufficient evidence of their income and have enough borrowing capacity. Self-employed Aussie expats might be able to borrow 80% LVR.
Foreign nationals must apply to FIRB for approval before purchasing a house. Typically, non-residents are only allowed to purchase new buildings or vacant land.
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