Mortgage Ezy Home Loan Review for Australian Expats
Mortgage Ezy is a non-bank lender that was founded in 1994 and based in Queensland, Australia. It offers a range of home loans, including owner-occupied, investment, and SMSF loans. Mortgage Ezy is known for its innovative products and its willingness to lend to borrowers who may not qualify for a loan from a traditional bank.
Find out if this lender is the right one for your particular situation.
- Borrow up to 80% of the property purchase price
- Willingness to lend to borrowers with poor credit
- Strong focus on customer service
Mortgage Ezy Home Loan Options
Mortgage Ezy offers the following home loan products to Australian expats living overseas.
Classic Variable Rate
Certainty Fixed Rate
Expat Packaged Home Loan
The Classic Variable Rate Home Loan is a flexible home loan that offers a variable interest rate. The interest rate is reviewed every six months and can go up or down. This loan is a good option for borrowers who want the flexibility to make extra repayments or who want to be able to switch to a fixed rate loan if interest rates rise.
The Certainty Fixed Rate Home Loan is a fixed rate home loan that offers a fixed interest rate for a set period of time, typically between one and five years. This loan is a good option for borrowers who want to know exactly how much their repayments will be for a certain period of time.
The third main option is their Expat Packaged Home Loan which bundles together a mortgage with other banking products to simplify finances. This loan offers a variable interest rate and a range of features that are designed to make it easier for expats to manage their home loan from overseas. Discounts are also available for larger loans above $500,000.
Mortgage Ezy Home Loan Review
Here are the pros and cons of choosing a Mortgage Ezy home loan to buy property in Australia.
| Pros | Cons |
|---|---|
Online applications for remote access. | Can have higher rates than bigger banks. |
Dedicated expat support staff. | Added fees for international transfers. |
Innovative products. | Not as widely available as traditional banks. |
Repayment flexibility. | Income verification can be strict. |
Allow us to find you the perfect home loan.
Apply online to get expert recommendations with real interest rates and repayments.
Mortgage Ezy Home Loan Features
Mortgage Ezy offers the following home loan features.
| Feature | Details |
|---|---|
Offset Accounts | An offset account is linked to a home loan and allows borrowers to offset their loan balance with the funds in their offset account. This can reduce the interest that you pay on your mortgage. |
Redraw Facilities | A redraw facility allows you to withdraw money from your home loan, up to a certain limit. This can be useful for those who need access to cash for unexpected expenses. |
No Exit Fees | Mortgage Ezy does not charge exit fees on its home loans. This means that borrowers can switch to a different lender without having to pay a penalty. |
Flexible Repayments | Allows borrowers to make extra repayments on their loan without penalty. This can help you pay off your home loan faster and save money on interest. |
Facts About Mortgage Ezy
Mortgage Ezy was awarded the Australian Lending Award for the Best Non-Bank Lender in 2016 and 2017.
It is one of the few lenders that offers SMSF loans.
It has a strong focus on customer service and has been praised by mortgage brokers for its quick turnaround times and helpful staff.
How Do I Apply for an Expat Mortgage with Mortgage Ezy?
Here are the steps on how to apply for an Australian expat home loan with Mortgage Ezy while living overseas.
- Contact a Mortgage Broker: A mortgage broker can help you understand the requirements for an Australian expat home loan and can help you gather the required documents.
- Gather the Required Documents: You will need to provide Mortgage Ezy with a number of documents, including proof of identity, proof of income, proof of assets, and visa documentation.
- Complete the Application Form: Mortgage Ezy will provide you with an application form that you will need to complete.
- Provide a Copy of the Property Contract: If you have already found a property, you will need to provide Mortgage Ezy with a copy of the property contract.
- Submit Your Application: Once you have completed the application form and provided all of the required documents, you can submit your application to Mortgage Ezy.
Mortgage Ezy will then assess your application and will let you know their decision within a few weeks.
Here are some additional tips for applying for an Australian expat home loan with Mortgage Ezy.
- Start the Process Early: It can take some time to gather all of the required documents, so it is important to start the process early.
- Be Prepared to Provide More Documentation: As an expat borrower, you will be required to provide more documentation than a resident borrower.
- Be Patient: The application process may take longer than if you were applying from Australia.
Who is Eligible?
Mortgage Ezy’s eligibility criteria for home loans in Australia are as follows:
- Citizenship or permanent residency in Australia.
- Minimum age of 18 years.
- Maximum loan-to-value ratio (LVR) of 75%.
- Minimum deposit of 20% of the purchase price.
- Good credit history.
- Stable income.
Mortgage Ezy does offer home loans to Australian expats and Aussie permanent residents living overseas. However, there are some additional requirements that these borrowers must meet, such as:
- Having a valid visa that allows them to live and work in Australia.
- Having a minimum deposit of 30% of the purchase price.
- Providing evidence of their income from overseas.
Foreign investors living overseas can also apply for a home loan with Mortgage Ezy. However, there are even more stringent requirements that these borrowers must meet, such as:
- Having a permanent resident visa in Australia.
- Having a minimum deposit of 40% of the purchase price.
- Providing evidence of their income from overseas.
- Providing evidence of their assets from overseas.
It is important to note that Mortgage Ezy’s eligibility criteria may change from time to time. Therefore, it is always best to contact an experienced mortgage broker directly to discuss your individual circumstances.
What Documents Do I Require?
Mortgage Ezy requires the following documents for a home loan from overseas.
Proof of Identity
This could be a copy of your passport, driver's license, or other government-issued ID.
Proof of Income
This could be a copy of your payslips, tax returns, or other documentation that shows how much you earn.
Proof of Assets
This could be a copy of your bank statements, investment statements, or other documentation that shows what you own.
Visa Documentation
If you are not a permanent resident of Australia, you will need to provide proof of your visa.
Property Information
This could include a copy of the property contract, valuation report, or other documentation that shows the details of the property you are buying.
In addition to these documents, Mortgage Ezy may also require other documentation, such as a letter from your employer or a letter from your bank. It is always best to contact a mortgage broker to discuss your individual circumstances and to see what documentation will be needed.
Other Related Products from Mortgage Ezy
Ezy Alternate Documentation Home Loan
The Ezy Alternate Documentation Home Loan is designed for borrowers who may not be able to provide the standard documentation required for a home loan, such as payslips or tax returns. This loan is typically offered to borrowers who are self-employed or who have irregular income.
To qualify for an Ezy Alternate Documentation Home Loan, borrowers will need to provide Mortgage Ezy with a range of alternative documentation, such as bank statements, investment statements, or letters from their employer. Mortgage Ezy will assess this documentation to determine the borrower’s eligibility for the loan.
Ezy Low Doc Home Loan
The Ezy Low Doc Home Loan is designed for borrowers who have a good credit history but may not be able to provide all of the documentation required for a standard home loan. This loan is typically offered to borrowers who have recently started their own business or who have recently moved to Australia.
To qualify for an Ezy Low Doc Home Loan, borrowers will need to provide Mortgage Ezy with a range of documentation, such as payslips, tax returns, and a credit report. Mortgage Ezy will assess this documentation to determine the borrower’s eligibility for the loan.
Ezy Construction Home Loan
The Ezy Construction Home Loan is designed for borrowers who are building a new home in Australia. This loan offers a range of features that are designed to make it easier for borrowers to manage their loan during the construction process, such as:
- The ability to draw down funds as the construction progresses.
- The ability to extend the loan term if necessary.
- The ability to switch to a different loan product after the construction is complete.
To qualify for an Ezy Construction Home Loan, borrowers will need to provide Mortgage Ezy with a range of documentation, such as a building contract, a valuation report, and a credit report. Mortgage Ezy will assess this documentation to determine the borrower’s eligibility for the loan.
Need a Home Loan with Mortgage Ezy?
Looking for the perfect home loan for an Australian property from overseas? Mortgage Ezy delivers solutions tailored specifically to the needs of Aussie expat borrowers worldwide, and they can be the ideal lender for your situation.
Contact the expat home loan specialists at Odin Mortgage to discuss your Australian property plans in more detail. With years of experience assisting Australian expats, permanent residents, and foreign investors – our brokers can help you secure the ideal mortgage deal. Get in touch today!
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 Mortgage Ezy Mortgage
Can I get pre-approval on a home loan if I'm living overseas?
Yes, Mortgage Ezy offers pre-approval online for expat borrowers based on verification of your financial details.
Will my foreign income be considered for a home loan?
Yes, Mortgage Ezy will assess your overseas salary and assets when applying for an expat home loan.
Can I switch to a different home loan product later on?
Yes, you can refinance to a different Mortgage Ezy product after 12 months or switch lenders. Break costs may apply to fixed loans.
Can Australian expats apply for a Mortgage Ezy Home Loan from any country?
Yes, Australian expats can apply for a Mortgage Ezy Home Loan from most countries around the world.
How long does the loan approval process take?
The loan approval process typically takes several business days, but it may vary based on the complexity of the application.
Is Mortgage Ezy affiliated with any Australian banks?
Mortgage Ezy is an independent financial institution, but it collaborates with several Australian banks to offer competitive loan products.
Can expats buy investment properties through Mortgage Ezy?
Yes, expats can use Mortgage Ezy Home Loans to purchase both residential and investment properties in Australia.
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