Chinese People Yuan (CNY) or Renminbi (RMB) is accepted by most Australian lenders and you may prove your revenue just like you were an Australian resident.
Get competitive rates of interest and put money into 二胎 through mortgages for Australian expats in China.
Australian banks and lenders typically limit foreigners to borrowing approximately 80% of the property value. However, this isn’t the way it is for mortgages for Australian expats in China. Since you’re still an Australian citizen, you are able to borrow approximately:
80% in the property value: You can’t borrow more than this if you’re struggling to present banking institutions with financial documents that may prove your foreign income.
90% of your property value: By providing full documents of your income, assets and debts that report you’re in a strong financial position, you may be able to borrow approximately this amount.
In the case of mortgages for Australian expats in China, some lenders might still assess you as being a foreigner so it’s essential you are applying with the right lender.
Speak with one of our expat home mortgage specialists on 1300 889 743 ( 61 2 9194 1700 if you’re overseas) or complete our online for free assessment form.
We may be able to qualify you for a home loan for Australian expats in China today!
Yes! The Chinese Yuan (CNY) or Renminbi (RMB) is on the approved listing of acceptable currencies for mortgages for Australians located in China.
CNY or RMB is probably the strongest performing currencies on the planet due to China’s population, manufacturing industry, as well as its growing middle class.
Luckily, you may still qualify for a mortgage within australia regardless of whether you’re earning within a currency aside from Yuan/Renminbi and it falls outside of the list about the Australian Expat Mortgages page.
Note that lenders usually have some restrictions and conditions in place including limiting your borrowing capability to 80% Loan to Value Ratio (LVR).
What should i prove my income in China?
Mortgages for Australian expats in China might be taken off using the same documents as borrowers within australia trying to get a mortgage to prove their income.
If you’re borrowing over 80% LVR, you may prove your revenue through:
Your two most recent payslips (should not be handwritten).
Your last two years’ financial tax returns.
You can also prove your income by way of a letter through your employer as long as you’re borrowing lower than 80% LVR.
My financial documents have been in Mandarin / Cantonese!
When your financial documents have been in Mandarin, Cantonese or some other foreign language, you will need an interpreter’s certificate as some lenders won’t accept documents that aren’t dexqpky02 in English.
An interpreter’s certificate is surely an official and certified document that translates the very first financial document to English.
The easiest way to receive an interpreter’s certificate may be from the Australian Consulate in China.
However, you can also send us in your documents directly since a number of 房屋二胎 are fluent in Mandarin and Cantonese.