Advantedge Home Loans Review for Australian Expats
Advantedge Financial Services offers a simple, low-cost home loan product that is exclusively available through mortgage brokers. The product is designed to be easy to understand and use, with competitive rates and fees. The lender also offers a high level of service to its brokers, with a dedicated team of lending experts available to provide support.
Could Advantedge be the lender for your Australian expat home loan?
- Borrow up to 80% of the property purchase price
- International lending experience
- Simple, transparent application process
Advantedge Financial Services Home Loan Options
Advantedge offers the following home loan products to Australian expats living overseas.
International Home Loan
Flexi Home Loan
Offset Home Loan
The Advantedge International Home Loan is specifically designed for Australian expats and Aussie permanent residents living overseas. Here are some of its key features:
- Variable interest rate with a discount for the first 12 months
- Fast approval process
- Minimum deposit of 20% of the purchase price of the property
- No application fees
- No ongoing monthly fees
The Advantedge Flexi Home Loan offers a variable interest rate with a choice of repayment options. It also has a redraw facility, which can be helpful for expats who may need to access their equity for unexpected expenses. Here are some of its key features:
- Variable interest rate
- Choice of repayment options
- Redraw facility
- Minimum deposit of 20% of the purchase price of the property
- No application fees
- No ongoing monthly fees
The Advantedge Offset Home Loan offers a variable interest rate with an offset account. This means that you can offset your outstanding loan balance with your savings, which can save you money on interest. Here are some of its key features:
- Variable interest rate
- Offset account
- No application fees
- No ongoing monthly fees
- Minimum deposit of 20% of the purchase price of the property
Advantedge Home Loans Review
Here are the pros and cons of choosing an Advantedge Financial Services home loan to buy property in Australia.
| Pros | Cons |
|---|---|
Wealth of experience lending to Australian expats. | Not available in all states. |
Competitive interest rates. | Requires a minimum deposit of 20%. |
Flexible repayment options. | Not the best rates for everyone. |
Dedicated team of lending experts. | Potential for higher costs. |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Advantedge Home Loan Features
Advantedge offers the following home loan features.
| Feature | Details |
|---|---|
No Application Fees | No application fees are charged for home loans. This can save you money upfront. |
Offset Account | You can offset your outstanding loan balance with your savings, which can save you money on interest. |
Line of Credit | Can be a good option if you want to have access to a larger amount of cash, or if you want to be able to withdraw money without affecting your home loan interest rate. |
Early Repayment Incentive | Available on some home loans to help save money on interest by repaying your loan early. |
Facts About Advantedge Financial Services
Advantedge Financial Services was established in 1999. It was originally founded as Challenger Mortgage Management Services Limited and operated as a subsidiary of Challenger Limited, a prominent Australian financial services company.
It was acquired by the National Australia Bank (NAB) Group in 2009 and rebranded to Advantedge Financial Services, further solidifying its position in the financial sector. Becoming a part of the NAB Group provided the company with increased resources, expertise, and access to a broader network, allowing it to expand its reach and offerings.
In 2018, the lender won the MFAA National Excellence Award for Lender of the Year.
How Do I Apply for an Expat Mortgage with Advantedge?
Here are the steps on how to apply for an Australian expat home loan with Advantedge Financial Services while living overseas.
- Contact a Mortgage Broker: A mortgage broker can help you compare different lenders and find the best option for your needs. They can also help you with the application process.
- Gather the Required Documentation: The lender will require you to provide a number of documents to support your application, such as proof of income from overseas and a copy of your passport.
- Complete the Application Form: They will provide you with an application form that you will need to complete. The form will ask for your personal details, financial information, and the details of the property you are looking to buy.
- Submit Your Application: Once you have completed the application form, you will need to submit it to the lender. You can do this online, by mail, or in person at one of their branches.
- Wait for Approval: They will assess your application and let you know if you have been approved. If you are approved, they will issue you a loan contract.
- Sign the Loan Contract: Once you have received the loan contract, you will need to sign it and return it to the lender. Once they have received your signed contract, they will release the funds to you.
We can help you with your home loan application, from initial assessment and submission to settlement and beyond.
Who is Eligible?
Advantedge Financial Services offers home loans to a wide range of borrowers, including Australian expats and Aussie permanent residents living overseas. However, there are some eligibility criteria that borrowers must meet in order to qualify for a loan.
To be eligible for a home loan with Advantedge, you must:
- Be a permanent resident of Australia or a citizen of Australia who has been living overseas for less than 12 months.
- Have a minimum deposit of 20% of the purchase price of the property.
- Have a good credit history.
- Be able to demonstrate that you have sufficient income to repay the loan.
Foreign investors living overseas are also eligible for home loans. However, they will need to meet stricter eligibility criteria, such as a minimum deposit of 30% of the purchase price of the property. They may also need to provide additional documentation, such as a letter from their financial advisor verifying their assets.
It is important to note that the eligibility criteria for a home loan with the lender may change from time to time. It is always best to speak to a mortgage broker to get the latest information on eligibility criteria and interest rates.
What Documents Do I Require?
Advantedge Financial Services in Australia requires the following documents for a home loan from overseas with them.
Proof of Income from Overseas
This can be a letter from your employer verifying your salary, or a bank statement showing your recent income.
Proof of Residency Outside of Australia
This can be a copy of your visa, or a letter from your landlord verifying your address.
Proof of Identity
This can be a copy of your passport, or a driver's license.
Proof of Assets
This can be a copy of your bank statements, or a letter from your financial advisor verifying your assets.
A Copy of Your Passport
This is a mandatory document that you need to provide to any lender in Australia.
In addition to these documents, you may also be required to provide other documentation, such as:
- A letter from your accountant verifying your tax returns.
- A letter from your lawyer verifying that you have the right to purchase property in Australia.
- A letter from your bank stating that you have sufficient funds to cover the deposit and closing costs.
Other Related Products from Advantedge
Advantedge Introductory Home Loan
This offers a low interest rate for a set period of time, which can help you save money on your monthly repayments. The interest rate is lower for the first 1 to 3 years, depending on the loan term you choose.
Here are some of its key features:
- Low interest rate for a set period of time
- No application fees
- No ongoing monthly fees
- Minimum deposit of 20% of the purchase price of the property
The Advantedge Introductory Home Loan can be a good option for borrowers who want to save money on their monthly repayments in the short term. It is important to note that the interest rate will increase after the introductory period, so you will need to be prepared for this.
Advantedge Fixed Rate Home Loan
This offers a fixed interest rate for a set period of time, which can provide peace of mind if you are worried about interest rates rising. The interest rate is fixed for the first 1 to 10 years, depending on the loan term you choose.
Here are some of its key features:
- Fixed interest rate for a set period of time
- No application fees
- No ongoing monthly fees
- Minimum deposit of 20% of the purchase price of the property
The Advantedge Fixed Rate Home Loan can be a good option for borrowers who want to know exactly what their repayments will be for the life of the loan. It can also be a good option for borrowers who are worried about interest rates rising.
Advantedge Construction Home Loan
This construction home loan is designed for borrowers who are building a property. It offers a flexible repayment schedule and a fast approval process. The loan can be used to finance the construction of a new home or to renovate an existing home.
Here are some of its key features:
- Flexible repayment schedule
- Fast approval process
- Minimum deposit of 20% of the construction costs
The Advantedge Construction Home Loan can be a good option for borrowers who are building a property. The flexible repayment schedule can help you to manage your cash flow during the construction period, and the fast approval process can help you to get started on your project sooner.
Need a Home Loan with Advantedge Financial Services?
Advantedge caters to the unique needs of Australian expats looking to invest in the property market back home. With flexible repayment options, competitive interest rates, and a streamlined application process, they make the journey of buying property from overseas a smoother experience. We’re here to make things even simpler for you!
Our mortgage brokers specialise in overseas home loans to buy or invest in Australian property. Speak with one of our experts and get on the fast track to property ownership in the land down under.
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 Advantedge Financial Services
Can I apply for an Advantedge home loan if I'm not an Australian citizen?
Yes, Advantedge home loans are available to Australian citizens living overseas as well as Australian expats holding citizenship in other countries.
What currencies can I make loan repayments in?
Advantedge offers a variety of currency options for loan repayments, including major foreign currencies. This flexibility is a key benefit for expats with income in different currencies.
Are the interest rates fixed or variable?
Advantedge provides both fixed and variable interest rate options, allowing borrowers to choose the option that suits their financial strategy best.
How long does the loan approval process typically take?
The loan approval process with Advantedge varies based on individual circumstances. However, the streamlined online application process can expedite the overall timeline.
Can I refinance an existing mortgage with Advantedge?
Yes, it is possible to refinance an existing mortgage with Advantedge, subject to their terms and conditions. It’s recommended to contact their team for personalised assistance.
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