ChoiceLend Home Loans Review for Australian Expats

ChoiceLend Home Loan Options

ChoiceLend offers the following home loan products. Please note that these may not be available for borrowers from overseas. Speak with us to discuss your best options.

The variable rate home loan is a flexible option that allows your interest rate to fluctuate with market conditions. This means that your monthly repayments could go up or down depending on the interest rate environment. Variable rate home loans are typically best suited if you are comfortable with the possibility of interest rate changes and who want to take advantage of potentially lower interest rates in the future.

The fixed rate home loan provides the certainty of fixed interest repayments for a set period, typically 1, 3, 5, or 7 years. This means that your monthly repayments will remain the same, regardless of changes in the interest rate environment. Fixed rate home loans are a good option if your want to budget for your mortgage payments and want to protect yourself from interest rate fluctuations.

First home buyer loans are specifically designed for first-time homebuyers, including expats, offering competitive interest rates and government assistance programs.

ChoiceLend Home Loan Review

Here are the pros and cons of choosing ChoiceLend to buy property in Australia.

Pros Cons
Streamlined application process
Limited availability
No monthly or ongoing fees
No offset accounts
Experienced expat mortgage specialists
Interest rates may not always be competitive
Flexible repayment options

Allow us to find you the perfect home loan.

Apply online to get expert recommendations with real interest rates and repayments.

Features of ChoiceLend Home Loans

ChoiceLend can help you get the following home loan features.

Feature Details
Unlimited Loan Splits
Allows you to split their home loan into multiple accounts with different interest rates and repayment terms. This can be a useful way to manage different financial goals, such as saving for a deposit on an investment property or funding a renovation.
No Lock-in Contracts
Does not charge any lock-in break fees, giving you the flexibility to refinance your home loan if you find a better interest rate elsewhere.
Online Account Management
Offers you the ability to manage your home loan account online, making it easy to make repayments, track your balance, and access important documents.

Facts About ChoiceLend

ChoiceLend home loans are only available through Choice Aggregation Services mortgage brokers.

ChoiceLend was launched in 2007 and has since become one of the leading mortgage brokers in Australia. Their home loans are available through a network of over 1,500 mortgage brokers across Australia.

They have won a number of awards for its products and services, including the Canstar Choice One Star Mortgage Broker of the Year for 2017, 2018, and 2019, the Moir Competing in a Changing Market Award for 2019, and the MPA Innovation Award for 2019.

How Do I Apply for an Expat Mortgage with ChoiceLend?

Here’s a step-by-step guide on how an Australian expat, permanent resident, or foreign investor living overseas can apply for an Australian expat home loan with ChoiceLend.

  • Check Eligibility: Before you begin the application process, it’s crucial to ensure you meet the eligibility criteria for their expat home loans. This typically includes requirements such as being an Australian citizen or permanent resident and having a regular and verifiable income.
  • Gather Required Documents: Once you’ve confirmed your eligibility, start gathering the necessary documentation to support your application. This typically includes documents such as proof of identity and proof of deposit funds.
  • Contact a Mortgage Broker: Their home loans are only available through Choice Aggregation Services mortgage brokers. Find a broker in your preferred location or use ChoiceLend’s broker search tool to find a suitable match.
  • Pre-approval: Your mortgage broker will assess your financial situation, creditworthiness, and property details to determine your borrowing capacity and obtain a pre-approval for an expat home loan. Pre-approval provides you with an estimated interest rate and loan amount, giving you a clearer picture of your affordability.
  • Formal Application: With pre-approval in hand, you’ll be guided through the formal application process. This involves completing an application form, providing the gathered documentation, and undergoing a credit check.
  • Valuation and Approval: The lender will arrange for a property valuation to assess the property’s market value. Once the valuation is complete, the final loan approval will be granted, subject to satisfactory conditions.
  • Contract Signing and Settlement: Upon approval, you’ll receive a loan contract outlining the terms and conditions of your expat home loan. Once you’ve reviewed and signed the contract, the settlement process will commence, transferring the property ownership to you.

Remember, the application process may vary depending on individual circumstances and lender requirements. It’s advisable to consult with a specialist mortgage broker like Odin Mortgage to discuss your specific situation and receive personalised guidance.

Who is Eligible?

Here’s an overview of eligibility for ChoiceLend home loans in Australia.

Australian citizens can apply for ChoiceLend home loans if they:

  • At least 18 years old
  • Have a regular income
  • Have a good credit history
  • Can provide a deposit of at least 20% of the property’s value

Permanent residents can apply for ChoiceLend home loans if they:

  • Are at least 18 years old
  • Have a permanent visa for Australia
  • Have a regular income
  • Have a good credit history
  • Can provide a deposit of at least 20% of the property’s value

Australian expats can apply for ChoiceLend home loans if they:

  • Are Australian citizens or permanent residents
  • Have a regular income from employment or investments
  • Have a good credit history
  • Can provide a deposit of at least 20% of the property’s value
  • May need to provide additional documentation, such as proof of employment and income, and a copy of their passport

Foreign investors living overseas can apply for ChoiceLend home loans if they:

  • Are not Australian citizens or permanent residents
  • Have a regular income from employment or investments
  • Have a good credit history
  • Can provide a deposit of at least 30% of the property’s value
  • May need to provide additional documentation, such as proof of employment and income, and a copy of their passport

In addition to the above, there may be additional eligibility criteria that apply to specific types of home loans, such as low doc loans or first home buyer loans. It is always best to check with a specialist mortgage broker like Odin Mortgage directly to get the most up-to-date information on eligibility criteria.

What Documents Do I Require?

The specific documents required for a home loan with ChoiceLend from overseas may vary depending on your individual circumstances, but they will typically include the following.

Proof of Identity

This includes documents such as a copy of your passport or driver's licence.

Proof of Income

This includes documents such as recent payslips or tax returns.

Evidence of Employment

This includes documents such as employment contract or recent employer confirmation and proof of deposit funds.

Additional Documentation

Depending on your circumstances, you may also be required to provide additional documentation, such as proof of visa status, proof of tax residency, and evidence of assets or investments.

It’s advisable to contact a specialist mortgage broker to discuss your specific situation and obtain a comprehensive list of required documents. They can also guide you through the application process and ensure you have all the necessary information to apply for an expat home loan with ChoiceLend from overseas.

Other Related Products from ChoiceLend

Construction Loan

Construction loans are suitable for expats planning to build a new home in Australia, providing financing for the construction process and land purchase.

Investment Home Loan

Investment home loans cater to expats seeking to invest in Australian property, offering options for rental properties or potential future capital gains.

Low Doc Loans

Low doc loans are designed for expats who have limited documentation of their income or employment, such as self-employed individuals or those with irregular income streams.

Need a Mortgage With ChoiceLend?

ChoiceLend can be a good option for Australian expats living overseas who are looking to buy property in Australia because they offer competitive interest rates, a streamlined application process, and a range of other beneficial features. However, you can find it difficult to secure your mortgage due to your unique circumstances of applying from overseas. That’s where we come in!

We can help you secure your overseas home loan with this or any other lender that could be more suitable for you. Please speak with us today to discuss your situation and requirements!

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 ChoiceLend

ChoiceLend is a white-label mortgage product offered by Choice Aggregation Services, an aggregator for mortgage brokers in Australia. ChoiceLend home loans are only available through Choice Aggregation Services mortgage brokers. This means that if you are looking to apply for a ChoiceLend home loan, you will need to find a broker who is a member of the Choice Aggregation Services network.

To be eligible for a ChoiceLend home loan, you must be an Australian citizen or permanent resident and have a regular income from employment or investments. You will also need to have a good credit history and be able to provide a deposit of at least 20% of the property’s value.

In addition to the general eligibility criteria, there are also some specific eligibility requirements for Australian expats who want to apply for a ChoiceLend home loan. You can find more in the relevant section above.

To apply for a ChoiceLend home loan, you will need to find a Choice Aggregation Services mortgage broker. Your broker will be able to help you with the application process and provide you with information on the specific eligibility requirements for Australian expats.

Or you can contact Odin Mortgage, who has a team of overseas mortgage specialists, to help you apply for and secure a home loan to buy property in Australia from overseas.

See What You Qualify For

Featured In
Geo Expat Logo
Asia xpat Logo
Expat.com Logo
Expat Living Logo
AAHK Logo
Easy Expat Logo
FREE GUIDE

10 Best Tips for Australian Expats to Maximise Borrowing Power & Approval Success