Property in Australia

Buying Property in Australia

 How much can I borrow & what proof of income is required?

Please note, that there no non-status/self-certification mortgage facilities available in Australia (although renting out your property is permitted), all loans need to be supported by a minimum requirement of proof of income.

At a Glance - Property Buying In Australia

Australian Lenders will also take approx. 70% of the gross rental income into consideration toward the cost of the mortgage purposes/repayments.

Your loan is based on your joint monthly pay, before tax, and is calculated on an affordability basis. Your proposed Australian mortgage payments must not exceed 35% of your gross monthly income.Talk to an adviser about a mortgage in Australia.

Example:

Gross joint monthly income £ 2,500 times 35% of that figure is £ 875 minus existing monthly mortgage payment £ 300 No other liabilities. This leaves a balance of £575 for a proposed Australian Mortgage payment.

If you are looking for more information on investment properties, why not click on one of the links below?:

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. 
The above mortgage detail is for information purposes only as does not constitute financial advice under the Financial Services and Markets Act 2000.