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Non Residents or Overseas Applicants

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Non Residents or Overseas Applicant

SMP is pleased to assist non-resident individuals in purchasing a property in Australia.
Formal approval from the Foreign Investment Review Board (FIRB) will be required for any residential purchase whether this is vacant land or a dwelling. Applications to purchase are processed free of charge by the FIRB and can be downloaded from their website. Processing your request can take 10-21 days from the time of lodgment.
As a general guide, lenders require a minimum of 20% of the property purchase price however a deposit of 30% of purchase price will result in a greater choice of home loan products and lenders. You should allow approximately 5% of the total purchase price for relevant government charges and stamp duties.
If you do not plan to be in Australia during the purchase period you will need someone to act as your Power of Attorney in the signing of the mortgage and related documents. An Australian solicitor can usually establish Power of Attorney for a small fee, usually around $200.
SMP can assist you with all aspects of your Australian Property Purchase including making contact with Solicitors, Real Estate Agents, and sourcing the most competitive home loan to suit your situation from those available via our panel of lenders.

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