Click Loans Home Loans Review for Australian Expats
Click Loans is an Australian-owned company that was launched in 2015. They offer customers an easy online home loan experience with the help of expert consultants based in their Sydney headquarters. They are not a bank, but rather a lender that offers online home loan solutions to customers.
Discover if Click Loans is a lender to consider for your home loan from overseas.
- Borrow up to 80% of the property purchase price
- Backed by some of Australia's largest financial institutions
- Quick and easy application process
Click Loans Home Loan Options
Click 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.
Variable Rate Home Loan
Fixed Rate Home Loan
Offset Home Loan
A variable rate home loan helps provide some level of flexibility, in that you have the chance to save money if interest rates fall. Variable rate home loans typically have lower interest rates than fixed rate home loans, but the interest rate can change up or down over time, depending on the market. This can be a good option if you are willing to take on some risk in exchange for the potential to save money on their home loan repayments.
A fixed rate home loan will help you know exactly how much your repayments will be each month. This can be useful if you are on a tight budget or want to budget accordingly for your home loan repayments. Fixed rate home loans typically have higher interest rates than variable rate home loans, but this can be offset by the peace of mind of knowing exactly how much your repayments will be.
An offset home loan is a good option for expats who want to save money on interest. An offset home loan allows you to offset your home loan balance against your savings account. This means that the interest you earn on your savings account will be credited towards your home loan balance, reducing the amount of interest you pay on your loan. Offset home loans typically have higher interest rates than other types of home loans, but this can be offset by the savings you make on interest.
Click Loans Home Loans Review
Here are the pros and cons of choosing a Click Loans home loan to buy property in Australia.
| Pros | Cons |
|---|---|
Team of experienced mortgage brokers who specialise in helping expats get home loans. | Charges a fee for their services, which can vary depending on the complexity of your loan. |
Access to a wide range of lenders, so they can help you find the best interest rate and terms for your individual circumstances. | May not be able to offer the best interest rates or terms available, as they are limited by the lenders they work with. |
Can help you with the entire home loan process, from application to settlement. | May not be able to help you if you have a poor credit history or if you are self-employed. |
Offers a free consultation, so you can get started without any obligation. |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Click Loans Home Loan Features
Click Loans can help you get the following home loan features.
| Feature | Details |
|---|---|
Flexible Repayment Options | A variety of repayment options, so you can choose a plan that fits your budget. |
Online Account Management | Manage your account online, including making payments, viewing statements, and tracking your progress. |
24/7 Customer Support | Constant availability of customer support, so you can get help when you need it. |
Loan Splitting | Divide your loan into two or more parts. For example, one part could have a fixed interest rate, and the remainder could have a variable rate. |
Facts About Click Loans
Click Loans has grown rapidly since its inception in 2015. The company now has over 100,000 customers and has lent over $10 billion in home loans.
It is owned by Australian Credit and Finance, rebranded to Lendi, a financial technology company that specialises in online lending.
They created Australia’s first online home loan, won awards for their customer service and the value of their home loans, and are backed by some of Australia’s largest technological and financial institutions.
How Do I Apply for an Expat Mortgage with Click Loans?
Here are the steps on how to apply for an Australian expat home loan with Click Loans while living overseas.
- Apply for a Home Loan: Visit the Click Loans website and click on the “Apply for a Home Loan” button.
- Complete the Online Application Form: Make sure to provide all of the required information, including your personal details, financial information, and employment information.
- Upload the Required Documents: Click Loans will require you to upload copies of your passport, visa, proof of income, and proof of employment.
- Discuss Your Application: A Click Loans representative will contact you to discuss your application and answer any questions you may have.
- Application Processing: Wait for Click Loans to process your application, which can take a few days or weeks.
- Receive a Decision: Click Loans will notify you of their decision on your application. If your application is approved, you will be able to proceed with the loan settlement process.
Note that the lending criteria for expats can be more stringent than for Australian residents. This is because lenders are more likely to lend to expats who have a stable income, a good credit history, and a clear purpose for the loan.
Odin Mortgage specialises in home loans for overseas borrowers. We can help you secure a great deal on your home loan and assist you through to settlement and beyond.
Who is Eligible?
Click Loans offers home loans to a variety of borrowers, including Australian citizens, permanent residents, and foreign investors. However, there are some eligibility criteria that borrowers must meet in order to qualify for a loan.
- You must be at least 18 years old.
- You must be a resident of Australia or have a valid visa that allows you to live and work in Australia.
- You must have a stable income and a good credit history.
- You must be able to afford the monthly repayments on the loan.
- You must meet the lender’s specific requirements.
Australian expats, Aussie permanent residents, and foreign investors living overseas may be eligible for a home loan with Click Loans, but they will need to meet the lender’s specific requirements for expat borrowers. These requirements may include having a stable income from an overseas job and having a good credit history.
What Documents Do I Require?
Click Loans in Australia requires the following documents for a home loan from overseas.
Personal Identification
This can include a copy of your passport, driver's license, and birth certificate.
Proof of Income
This can include your recent payslips, tax returns, and bank statements.
Proof of Employment
This can include an employment contract or a letter from your employer.
Asset and Liability Statement
This is a statement with a list of your assets and liabilities, such as savings accounts, investments, properties, debts, and loans.
Proof of Residency
This can include your visa or permanent residency card and utility bills.
Bank Reference
This is a letter from your bank confirming your account history and creditworthiness
In addition to these documents, Click Loans may also require other documents depending on your individual circumstances. For example, if you are self-employed, you may need to provide additional documentation to prove your income.
Other Related Products from Click Loans
Split Loans
A split loan allows you to combine a fixed rate home loan with a variable rate home loan. This can be a good option if you want the stability of a fixed rate home loan with the flexibility of a variable rate home loan.
For example, you could choose to fix your interest rate for the first 5 years of your loan, and then switch to a variable rate after that. This can give you the peace of mind of knowing your repayments will be fixed for the first 5 years, but also the flexibility to save money if interest rates fall after that.
Line of Credit Loans
A line of credit loan is a flexible loan that allows you to borrow money as you need it. This can be a good option if you may need to borrow money for unexpected expenses.
For example, if you need to pay for a medical emergency or car repair, you can simply draw on your line of credit. You will only pay interest on the money you actually borrow, so this can be a cost-effective way to borrow money for short-term needs.
Interest-Only Loans
An interest-only loan only requires you to pay interest on your loan balance for a set period of time. This can be a good option for expats who want to minimise their monthly repayments and save for a larger deposit.
For example, you could choose to take out an interest-only loan for the first 5 years of your loan and then switch to a principal and interest loan after that. This will allow you to save money on your monthly repayments in the early years of your loan, which can give you more time to save for a larger deposit.
Need a Home Loan with Click Loans?
Click Loans serves as a guiding light for Australian expats dreaming of owning property in their homeland. Through its tailored solutions and commitment to understanding expat complexities, this lender can pave the way for Aussie expats to turn their real estate aspirations into reality.
However, you may still need help to secure a home loan from overseas since it can be challenging. That’s where we come in!
Odin Mortgage is the leading mortgage broker for Australian expats, permanent residents, and foreign investors living overseas looking to buy property in Australia. Contact us today to discuss your needs and situation in detail with one of our specialists and get on the fast track to homeownership 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 Click Loans
Can I apply for a loan if I have multiple sources of foreign income?
Absolutely. Click Loans takes into account various income streams when considering loan applications.
How can I stay updated on my loan application's progress while abroad?
Click Loans provides regular updates through online channels, ensuring you’re informed every step of the way. If you’re taking the help of a mortgage broker, they will keep you updated constantly so you always know what’s going on with your mortgage application.
What if I'm uncertain about which loan option is best for me?
Lenders can guide you through the loan selection process on their available options, ensuring you make an informed decision. A mortgage broker can help you choose the ideal home loan as well as the ideal bank or lender for your situation.
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