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Do I qualify for an Australian mortgage?
To qualify for
a mortgage in Australia, a calculation is used to establish whether you can afford to maintain the mortgage repayments. This will automatically happen when you complete the application form, and Mortgage
Helpline International won't charge you for this service.
How much can I borrow?
Calculation based on the valuation or purchase price, whichever is the lower
Up to 70% of LTV
available for house purchase, remortgage or home improvements
Based on joint gross pay, where joint income is applicable
Existing liabilities, e.g. mortgage or rental payments, loans,
credit card payments and maintenance are taken into account, together with the proposed Australian mortgage payments. All this must not exceed 40% of your monthly gross income. Note that Australian
lenders may take up to 70% of proposed rental income into account
What evidence of income do I need?
If you are employed:
Your last three month's payslips
Your latest P60
or Employers Reference
Your last six month's personal bank statements
If you are self-employed:
Your last two year's audited accounts
Your last 12 month's business statements
Your last
six month's personal bank statements.
Example mortgage payments
If, for example, your gross joint monthly income is £2,500, 40% of this equates to £1000. If your only liability is your mortgage
payment, of say £300, this would leave a balance of £700 for your Australian mortgage repayment.
What types of Australian mortgages are available?
For our latest rates and to see the different
types of Australian mortgages on offer, please contact us.
Loans are available in Sterling and Australian Dollars up to 80% of the property's value.
The maximum term of any mortgage is 30
years; this varies on the type of loan.
Repayment and Interest Only mortgages are available.
The minimum loan you can take out is £50,000
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