Heritage Bank Home Loans Review for Australian Expats

Heritage Bank Home Loan Options

Heritage Bank 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.

This package offers a low annual fee, a great interest rate, and discounts on other Heritage products. It is a good option for borrowers who want to save money on their home loan costs. This package has an annual fee, but it also includes a number of benefits, such as a discounted interest rate, discounts on other Heritage products, and free redraws.

Heritage Bank offers fixed rate home loans with terms of 1, 2, 3, 5, and 10 years. The interest rates on these loans are typically lower than the rates on variable rate home loans.

These loans offer a fixed interest rate for a set period of time, which can provide peace of mind in an uncertain economic climate. Heritage Bank’s fixed rate home loans also allow unlimited extra repayments, which can help borrowers pay off their loan faster. 

Heritage Bank’s bridging loans have a maximum term of 12 months. The interest rates on these loans are typically higher than the rates on other home loan products. This type of loan is designed to help borrowers cover the costs of buying a new home before they sell their old one. 

Heritage Bank’s bridging loans are typically 1% more expensive than their other home loans, but they can be a helpful option for borrowers who need to move quickly.

Heritage Bank Home Loans Review

Here are the pros and cons of choosing a Heritage Bank home loan to buy property in Australia.

Pros Cons
Ability to keep Australian bank account open when moving overseas
May have stricter lending criteria for expats
Ability to make payments on home loan from overseas
Not available through all mortgage brokers
Easy application process
May not have as many branch locations as other lenders
Excellent customer service

Allow us to find you the perfect home loan.

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

Heritage Bank Home Loan Features

Heritage Bank can help you get the following home loan features.

Feature Details
Free unlimited extra repayments
Can make as many extra repayments as you want on your Heritage Bank home loan without incurring any fees. This can help you pay off your loan faster and save money on interest.
Free online redraw
Can redraw any extra repayments you make on your Heritage Bank home loan at any time, free of charge. This can be helpful if you need some extra cash in an emergency.
Family guarantee
If you have a family member who is willing to act as a guarantor for your home loan, Heritage Bank may be able to offer you a lower interest rate. This is because the guarantor is agreeing to repay the loan if you default.
Mortgage Crusher Offset Account
This is a linked savings account that can help you save money on your home loan interest. Any money you deposit into the Mortgage Crusher Offset Account will be deducted from your outstanding loan balance, which will reduce your interest payments.

Facts About Heritage Bank

Heritage Bank is a mutual bank, which means it is owned by its members. It was founded in 1875 and became Heritage Bank in 2011.

It is committed to giving back to the community and has donated millions of dollars to local charities and organizations.

It is the second-largest mutual bank in Australia, with over 62 branches and mini-branches in southern Queensland and New South Wales.

How Do I Apply for an Expat Mortgage with Heritage Bank?

To apply for an Australian expat home loan with Heritage Bank while living overseas, you can follow these steps:

  • Contact a mortgage broker: A mortgage broker can help you assess your borrowing capacity and find a loan that meets your needs. They can also help you with the application process.
  • Gather the required documentation: The required documentation will vary depending on the lender, but it will typically include:
    • Proof of income
    • Proof of employment
    • Proof of residency
  • A letter from your employer stating that you are allowed to work overseas
  • A foreign currency mortgage, which means that the loan will be denominated in a foreign currency.
  • Complete the application form: The application form will ask for your personal details, financial information, and the details of the property you are buying.
  • Provide supporting documentation: You will need to provide supporting documentation to verify the information you have provided in the application form.
  • Undergo a credit check: The lender will conduct a credit check to assess your credit history.
  • Wait for approval: The lender will assess your application and let you know if you have been approved.

Who is Eligible?

To be eligible for an Australian expat home loan with Heritage Bank, you must meet the following criteria:

  • You must be a permanent resident of Australia or New Zealand.
  • You must have a stable income and a good credit history.
  • You must have a deposit of at least 20% of the purchase price of the property.
  • You must be able to afford the monthly repayments.

If you are an Australian expat or an Aussie permanent resident living overseas, you may be able to get a home loan from Heritage Bank if you meet the eligibility criteria. However, the lending criteria for expats may be stricter than for Australian residents. You may also need to provide more documentation, such as a letter from your employer stating that you are allowed to work overseas.

If you are a foreign investor living overseas, you may also be able to get a home loan from Heritage Bank. However, the lending criteria for foreign investors is even stricter than for expats. You will need to provide a lot of documentation, such as proof of your income and assets, and you will need to show that you have a genuine intention to live in Australia.

It is important to speak to a mortgage broker or financial advisor to discuss your eligibility for a home loan with Heritage Bank.

What Documents Do I Require?

Heritage Bank 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, Heritage Bank may also require other documents, such as a letter from your accountant or a letter from your lawyer. 

Other Related Products from Heritage Bank

Offset Home Loan

This type of loan allows you to offset your outstanding loan balance with any money you have in a linked savings account. This can help you save money on interest.

Offset home loans are a good option for borrowers who have a high level of savings or who are able to make regular deposits into their linked savings account. They can also be a good option for borrowers who are looking to reduce their monthly repayments.


Heritage Bank offers a variety of refinancing home loans, including standard variable rate refinancing, fixed rate refinancing, packaged refinancing, offset refinancing, refinancing to a lower interest rate, refinancing to consolidate debt, and refinancing to access equity. The specific features and eligibility criteria for each type of loan will vary, so you can find more information on Heritage Bank’s website or by speaking to a mortgage broker.

Investment Loans

Heritage Bank offers investment loans for buying, developing, and flipping investment properties. These loans typically have higher interest rates than owner-occupied home loans, but they may offer other features, such as the ability to make interest-only payments for the first few years.

Need a Home Loan with Heritage Bank?

Heritage Bank offers tailored home loan solutions for expatriates, with a customer-centric approach that addresses their unique challenges. Whether you are looking for stability with a fixed-rate loan or a bridging loan, Heritage Bank has something to offer.

However, it can be challenging for Aussie expats living overseas to qualify for a great deal or negotiate a better rate. That’s where we come in! We have years of experience helping expats get home loans, and we can help you get the best possible deal.

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.


The amount you can borrow from Heritage Bank for a home loan will depend on your individual circumstances, such as your income, expenses, and credit history. You can use the Heritage Bank home loan calculator to get an estimate of how much you can borrow.

The time it takes to get approved for a home loan from Heritage Bank will vary depending on your individual circumstances. However, it typically takes around 2 weeks to get approved for a loan.

The fees associated with a home loan from Heritage Bank will vary depending on the type of loan you choose and your individual circumstances. However, some of the common fees include application fees, establishment fees, annual fee and late payment fee. 

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