WISR Home Loan Review for Australian Expats

WISR Home Loan Options

WISR 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 loan is WISR’s most popular option, offering flexibility and the potential for lower interest rates over the life of the loan.


  • As interest rates fluctuate, you may benefit from lower rates than those offered in fixed-rate loans.
  • Make additional repayments without penalty, allowing you to pay off your loan faster and save on interest.
  • Variable rate loans typically have lower establishment fees compared to fixed-rate loans.


  • Interest rates can rise, leading to increased monthly repayments.
  • The variable rate nature makes budgeting for future expenses more challenging.

Fixed rate loans provide stability and predictability by locking in your interest rate for a set period (usually 1, 2, 3, or 5 years).


  • Lock in your interest rate for a fixed term (1, 2, 3, or 5 years), ensuring predictable monthly repayments.
  • Protect yourself from rising interest rates and ensure your budget remains stable.
  • Fixed rates offer stability and predictability, which can be helpful for budgeting and planning for future expenses.


  • Compared to variable rate loans, fixed rate options may have slightly higher initial interest rates.
  • Early repayment penalties may apply if you pay off your loan before the fixed term ends.

The first home buyer loan is designed specifically to help first-time buyers enter the Australian property market. This loan comes with additional benefits, such as lower interest rates and assistance with the First Home Loan Deposit Scheme.


  • The lender offers dedicated first home buyer rates, potentially lower than their standard personal loan rates.
  • First-time buyers may be eligible for government grants and schemes like the First Home Loan Deposit Scheme (FHLDS), reducing upfront costs.
  • WISR provides dedicated assistance and resources specifically designed for first-time buyers.


  • First-time buyers must meet specific requirements, such as income limits and property value limitations.
  • Some government assistance programs may come with additional fees or ongoing requirements.

WISR Home Loan Review

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

Pros Cons
Streamlined online application
Higher fees
Dedicated expat support
Less personalised service
Flexible loan options
Eligibility restrictions
Transparent and efficient process

Allow us to find you the perfect home loan.

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

Features of WISR Home Loans

WISR can help you get the following home loan features.

Feature Details
Redraw Facility
Redraw facility is offered on most home loans, allowing you to access additional repayments you have made.
Additional Repayments
Make additional repayments on your home loan at any time, helping you pay off your loan faster and save on interest.
Loan Portability
Port your home loan to a new property without incurring additional fees.
Repayment Holiday
May be offered on a case-by-case basis for borrowers facing hardship.

Facts About WISR

WISR holds the distinction of being the first non-bank lender of its kind to be publicly listed on the Australian Securities Exchange (ASX). This happened in 2015.

The lender provides a free credit score checking service that pulls information from Australia's two major credit bureaus, Equifax and Experian.

The lender emphasises a mission to improve the financial well-being of Australians. Hence, they have received numerous awards and accolades for their products and services. These include awards for Best Unsecured Personal Loan and Best Customer Service.

How Do I Apply for an Expat Mortgage with WISR?

Here’s how an Australian expat, permanent resident, or foreign investor living overseas can apply for an Australian expat home loan with non-bank lender WISR.

  • Check Eligibility: Use the lender’s online pre-qualification tool to see if you meet the basic eligibility requirements. You can also get help from a specialist mortgage broker.
  • Gather Documents: Prepare the necessary documents, including income verification, tax returns, visa documents, and property details.
  • Get Pre-approval: Consider getting a pre-approval to understand your borrowing capacity and strengthen your offer when you find a property.
  • Apply Online: The lender offers a fully online application process, allowing you to submit your application and upload documents from anywhere. Your mortgage broker can help with this.
  • Verification Process: The lender will verify your income and creditworthiness, which may involve additional documents and communication.
  • Loan Approval: Once your application is approved, you will receive a formal offer and can proceed with the purchase.
  • Provide Foreign Income Verification: You will need to provide documentation to verify your foreign income, such as payslips, tax returns, or employer letters.
  • Explain Your Visa Status: Clearly explain your visa status and any relevant details to ensure you meet the eligibility requirements.

Taking the help of an overseas home loan specialist such as Odin Mortgage is recommended since they can help you from before application to beyond settlement.

Who is Eligible?

Australian citizens or permanent residents can apply for a home loan regardless of their location.

Australian expats can also apply, but their eligibility will depend on several factors, including the following.

  • Visa Status: Permanent residents have a better chance of approval than temporary visa holders.
  • Employment Status: Income verification and stability play a crucial role.
  • Country of Residence: The lender may impose stricter requirements for expats residing in non-OECD countries.
  • Loan-to-Value Ratio (LVR): Expats may qualify for lower LVRs compared to residents.

Foreign investors living overseas can also apply, but their eligibility will be subject to stricter criteria and may be required to meet the following.

  • Higher Deposit: Larger LVRs may not be available.
  • Strong Financial History: Proven income and assets are crucial.
  • Specific Visa Types: Some visa categories may be excluded.

Other eligibility requirements include the following.

  • Age: Applicants must be at least 18 years old.
  • Income: Minimum income requirements apply, based on individual circumstances and loan type.
  • Creditworthiness: A good credit score is essential for approval.
  • Debt-to-Income Ratio (DTI): Your DTI must meet WISR’s criteria.
  • Property Type: WISR offers loans for various property types, but eligibility may vary.

For more precise eligibility details, it’s best to contact us directly.

What Documents Do I Require?

The specific documents required for an Australian expat home loan with WISR will vary depending on your individual circumstances, visa status, and employment type. However, here is a general overview of the documentation typically required.

Proof of Identity

This includes documents such as a copy of your passport, driver's license, or birth certificate. You may also be required to provide your passport with visa stamps, visa grant letter, and evidence of ongoing visa validity.

Foreign Income Verification

This includes documents such as translated payslips, tax returns, or employer letters with supporting documentation.

Proof of Address

This includes documents such as utility bills, bank statements, or rental agreements.

Credit Report

You can obtain your credit report from Equifax or Experian.

Proof of Assets

This includes documents such as bank statements, investment statements, or property ownership documents.

Additional Documents

This includes documents such as evidence of a deposit through bank statements or investment statements showing your available deposit funds, the signed property purchase contract, and building and pest inspection reports if required.

It’s important to note that this is not an exhaustive list, and you should always check with us directly for the most up-to-date information and any specific requirements they may have.

Other Related Products from WISR

Home Renovation Loan

WISR offers a home renovation loan that can be used for construction projects, including new builds. This loan is designed to help finance various home renovation projects, including:

  • Kitchen and bathroom renovations
  • Extensions and additions
  • Swimming pool installations
  • Roof repairs and replacements
  • Energy efficiency upgrades

Personal Loan

The lender offers a personal loan that is available to self-employed individuals. However, they may have stricter eligibility criteria and require additional documentation to verify income. This loan can be used for a variety of purposes, including:

  • Consolidating debt
  • Funding home improvements
  • Purchasing a car or motorcycle
  • Financing travel or holidays
  • Medical expenses

Debt Consolidation Loan

The lender’s debt consolidation loan can be used to access equity in your existing home. This loan is specifically designed to help consolidate multiple debts into a single, easier-to-manage payment. This can help you:

  • Reduce your interest rate
  • Simplify your repayments
  • Save money on fees
  • Get out of debt faster

Need a Mortgage With WISR?

WISR is a well-respected and trusted lender in the Australian market. They are known for their customer service and commitment to financial wellness. This non-bank lender can be your key to property ownership in Australia, depending on your circumstances. Let us help you find out!

Odin Mortgage specialises in home loans for Australian expats, permanent residents and foreign investors living overseas looking to buy property in Australia. Contact us today to discuss your needs and unique situation to check out your best options.

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.


Yes, you may be eligible. However, eligibility depends on factors like your visa status, employment type, country of residence, and income verification. Permanent residents have a better chance than temporary visa holders. Self-employed expats may require stricter documentation.

Aussie expats living overseas typically qualify for lower LVRs than residents. This means you may need a larger deposit. The actual LVR offered will depend on your individual circumstances and may range from 80% to 90%.

In addition to standard documentation like income verification and credit reports, expats will need to provide visa documentation, foreign income verification, and proof of assets. Specific requirements may vary depending on your situation.

Yes, WISR offers several convenient features like redraw facilities, additional repayments, and loan portability. However, some features like 100% offset accounts and interest-only loans may not be available. Contact us for the specifics.

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