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. |
