Brighten Home Loans Review for Australian Expats
Brighten Home Loans is a non-bank lender based in Australia that offers a range of home loans, including fixed-rate, variable-rate, and interest-only loans. The company is willing to consider borrowers with lower credit scores and less than perfect employment histories. This makes it a good option for borrowers who may have difficulty getting a loan from a traditional bank.
Discover if Brighten Home Loans is a lender to consider for your home loan from overseas.
- Borrow up to 80% of the property purchase price
- Specialist lender for non-residents and foreign income
- Online application and fast conditional approval
Brighten Home Loan Options
Brighten Home Loans offers the following home loan products. However, they may not be available to all Australian expats borrowing from overseas. You can contact us to confirm and find the right deal for you.
Expat Home Loans
Non-Resident
Alt Doc
Brighten’s Expat Home Loans product provides a streamlined home loan option for Australians living overseas. With flexible eligibility and an easy online application, it can be a good choice for expats looking to buy property back home.
Non-Resident Home Loans offer a convenient way for foreigners and temporary visa holders to get financing for property purchases in Australia. With flexible eligibility requirements and quick processing times, they can be an ideal option for non-residents. If you are a foreigner or temporary visa holder who is interested in buying property in Australia, a Non-Resident home loan may be a good option for you.
The Alt Doc Home Loans from Brighten are designed to provide more accessible financing options for self-employed borrowers who may not have all the typical income documents. By using alternative income verification methods, Brighten can facilitate loan approvals for applicants who may not qualify through standard documentation channels.
Brighten Home Loans Review
Here are the pros and cons of choosing a Brighten Home Loans to buy property in Australia.
| Pros | Cons |
|---|---|
Specialist lender for expats and foreign buyers | Limited product range |
Fast conditional approval within 48 hours | Large prepayment costs on fixed rates |
Accepts foreign income and visas | Minimum property size limits |
Online application process |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Brighten Home Loan Features
Brighten Home Loans can help you get the following home loan features.
| Feature | Details |
|---|---|
Interest Only | Allows you to pay just the interest on the loan for an initial period, reducing overall repayments. This provides greater flexibility. |
Redraw | Allows you to access any extra repayments you have made on your variable rate loan. This provides access to cash if needed. |
Equity release | Allows you to access the equity built up in your home and take some of it out as cash for other purposes. |
Cash out | When refinancing your home, you can take out additional funds above the outstanding mortgage amount as cash in hand. |
Facts About Brighten Home Loans
Brighten Home Loans was founded in 2017 and is headquartered in Sydney, Australia.
It is a wholly owned subsidiary of the Real Asset Management Group.
Brighten operates as a non-bank lender that specialises in loans for expats, foreign buyers and non-residents.
How Do I Apply for an Expat Mortgage with Brighten Home Loans?
Here are the steps on how to apply for an Australian expat home loan with Brighten Home Loans while living overseas:
- Contact a mortgage broker: A mortgage broker can help you understand your options and apply for a loan with Brighten Home Loans.
- Gather your documents: You will need to provide Brighten Home Loans with a number of documents, such as your passport, visa, tax file number, and proof of income.
- Complete an application form: You will need to complete an application form with Brighten Home Loans.
- Provide a deposit: You will need to provide a deposit of at least 20% of the property value.
- Meet with a lending specialist: You will need to meet with a lending specialist from Brighten Home Loans to discuss your application.
- Get approved for the loan: If your application is approved, you will be able to sign the loan documents and close the loan.
Who is Eligible?
Here are the general eligibility requirements for a home loan with Brighten Home Loans:
- You must be an Australian citizen, permanent resident, or temporary resident with an acceptable visa.
- You must have a minimum deposit of 5% of the purchase price.
- You must have a good credit history.
- Your income must be sufficient to service the loan repayments.
- You must be able to pass the lender’s financial assessment.
If you are an Australian expat or Aussie permanent resident living overseas, you may be eligible for a home loan with Brighten Home Loans. However, you will need to meet the lender’s specific requirements for expat borrowers. These requirements may include:
- You must have a valid Australian passport.
- You must have a visa that allows you to work or live in Australia.
- You must have a good credit history in Australia.
What Documents Do I Require?
Here are the documents that Brighten Home Loans in Australia requires for a home loan from overseas with them.
Proof of Identity
This could be a copy of your passport, driver's licence, or birth certificate.
Proof of Residency
This could be a copy of your visa, residency permit, or utility bill.
Proof of Income
This could be a copy of your payslips, tax returns, or bank statements.
Proof of Assets
This could be a copy of your property title, investment statements, or other financial assets.
Letter From your Employer
This letter should confirm your employment, salary, and length of service.
Bank Statement
This statement should show your current account balance and recent transactions.
Other Related Products from Brighten Home Loans
Bridging Loan
Brighten’s bridging loan is a short-term loan that is used to bridge the gap between the sale of one property and the purchase of another. It can also be used to finance a renovation or other project. Bridging loans are typically secured against the property that is being sold, and they have higher interest rates than traditional mortgages.
Full Doc
A full doc home loan is a type of mortgage that requires borrowers to provide complete documentation of their income and assets. This includes things like payslips, tax returns, bank statements, and investment statements. Full doc loans are considered to be the safest type of mortgage for lenders, so they typically offer the lowest interest rates.
Brighten Elevate
If you are an Australian expat who is looking to buy a property in Australia, the Brighten Elevate home loan could be a good option for you. It offers a competitive interest rate and a maximum LVR of 80%. You will also need to meet the eligibility criteria, but if you do, you could be approved for a loan quickly and easily.
Need a Home Loan with Brighten Home Loans?
Brighten Home Loans presents a compelling option for Australian expats seeking to purchase property back home. For expat borrowers wanting a lender that understands their situation, Brighten Home Loans warrants serious consideration.
Odin Mortgage has years of experience dealing with lenders regarding overseas home loans. Speak with one of us to discuss your requirements in detail and receive tailored solutions and help throughout the loan application process, even beyond settlement!
Other Australian Lender Reviews
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
FAQs About Brighten Home Loans
What is the process for applying for a Brighten Home Loan?
The process for applying for a Brighten Home Loan is relatively simple. You can apply online or by calling their customer service line. You will need to provide some basic information about yourself and your financial situation, such as your income, assets, and debt. You will also need to provide documentation to support your application, such as payslips, tax returns, and bank statements.
How long does it take to get approved for a Brighten Home Loan?
The approval process for a Brighten Home Loan typically takes a few days. However, the exact time frame may vary depending on the complexity of your application.
What are some of the things I can do to increase my chances of getting approved for a Brighten Home Loan?
There are a few things you can do to increase your chances of getting approved for a Brighten Home Loan, including:
- Having a good credit history.
- Making a large down payment.
- Having a stable income.
- Choosing a loan that is right for your financial situation.
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