A Quick Overview
| Details | Description |
|---|---|
| Customer Goal | Australian expats living in Singapore aimed to purchase another investment property in Australia while managing their complex financial situation. |
| Problem | Needed to find a lender who understood expat financial situations, maximising lending potential with foreign income, and managing a portfolio with seven existing properties |
| Loan Amount | $400,000 |
| LVR and Term | 79.20% Loan-to-Value Ratio (LVR), 30-year term |
| Income | Emma: $220,000 yearly
Oliver: $135,500 yearly |
| Solution | Home Loan Experts’ Mortgage Broker Manish Rana found a lender who accepted expats living in Singapore, considered 80% of their net foreign income, and provided loan features, including 100% offset and interest-only repayment. |
Thriving Abroad, Investing Back Home
Emma and Oliver, an Australian couple with two children, are thriving in Singapore. Emma has established herself in a senior role at a major multinational company, earning a significant income after nearly a decade of dedication. Oliver, fresh into a senior position at a prominent financial institution, is quickly making his mark. They already had seven investment properties. Now, with their successes abroad, they were keen to invest further back home in Australia. However, navigating the complex mortgage process as expats felt daunting, especially with their diverse portfolio and unique financial situation.
The Expat Investment Challenge
Their ambition to secure another investment property was met with several obstacles:
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Finding a suitable lender: They needed someone who understood the complexity of expat financial situations.
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Maximising lending potential: Ensuring their foreign income was considered to the fullest extent.
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Managing their portfolio: With seven existing investment properties and two credit cards, they needed a lender who could see the strength in their diverse portfolio.
Despite their extensive experience with investment properties, Emma and Oliver were particularly anxious about finding a lender that would accept most of their net foreign income, offer favourable terms, and lend them the largest amount possible. The sheer volume of their investments and the complexity of their expat status added layers of stress to the process.
Manish To The Rescue: Expert Solutions for Expat Investors
Their journey seemed daunting until they met Manish Rana, a seasoned broker from Home Loan Experts, known for his finesse in handling high-net-worth clients and complex financial scenarios. Emma and Oliver were already long-time clients of Home Loan Experts, having relied on our services for previous investment properties. Their trust in the team was strong, but this new challenge required exceptional expertise.
Manish immediately got to work, leveraging his deep knowledge and experience. He provided the couple with:
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Expat-Friendly Solutions: He identified a lender willing to accept Australian expats living and working in Singapore.
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Optimised Income Consideration: He secured a deal where the lender considered 80% of their foreign income, maximising their borrowing capacity.
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A Detailed Pre-Approval Process: Manish ensured a manual assessment for their pre-approval, which was crucial given their complex financial landscape.
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Comprehensive Loan Features: He negotiated loan terms that included 100% offset features and interest-only repayment, important tools for managing their finances.
A Successful Outcome And A Long-Term Partnership
Manish’s meticulous planning and strategic presentation of Emma and Oliver’s financial profile led to a smooth pre-approval process. Despite the geographical distance, his clear and consistent communication made the entire experience effortless. Emma and Oliver secured their new investment property, valued at $400,000, at an interest rate of 7.59%.
The couple was thrilled with the exceptional service they had once again received from Home Loan Experts. Emma’s feedback was glowing: “Manish made everything effortless. No lender could find fault with our application, thanks to his detailed work.” They now plan to refinance their other deals through Manish, confident in his ability to deliver outstanding results.
Loan Product Description
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Interest Rate: 7.29% (Variable), 30 years
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Features: Redraw, Extra repayments, Interest-only repayments for a maximum term of five years, 100% Offset.
Conquer Your Expat Investment Hurdle with Home Loan Experts
For expats like Emma and Oliver, having an expert like Manish can transform the intimidating investment loan process into a smooth, stress-free journey, allowing them to continue building their investment portfolio with ease and confidence.
Are you an expat looking to invest in Australian property? Contact us today at +61 2 9194 1700 or fill in our free online assessment form and learn how we can help you achieve your investment goals.