Australia financing guideA mortgage in Australia for foreigners means passing two separate tests: the Foreign Investment Review Board decides whether you may buy, then the bank decides whether it will lend. This guide covers both, with the temporary ban on established homes, state surcharges and what lenders do with foreign income.
First gate: are you allowed to buy?
Foreign persons generally need FIRB approval before buying residential property, and approval is usually limited to new dwellings or land on which a home will be built. From 1 April 2025 to 30 June 2029, foreign persons, including temporary residents and foreign-owned companies, are also barred from buying established dwellings unless an exception applies. The ban was originally due to end on 31 March 2027 and was extended in the 2026-27 Budget, so check the Treasury or ATO pages for the latest position. Exceptions include permanent residents, New Zealand citizens and certain spouses.
Contracts often include a condition for FIRB approval. Penalties apply if you buy without it. Our Australia consultation guide covers the ownership rules in more detail.
In Australia the approval to buy and the approval to borrow are separate gates, and non-residents must clear both.
Second gate: how banks treat non-residents
Several major banks have stepped back from lending to non-residents. Others lend, typically around 60-70% of value, and apply a discount to income earned in another currency, which shrinks what you can borrow. Specialist brokers who work with expatriates and offshore buyers are useful because they know which lenders say yes.
Pricing follows the Reserve Bank's cash rate and bank funding costs, with a premium for non-resident risk. Variable loans dominate, with fixed terms of one to five years. Look at the comparison rate, and ask if offset or redraw features are available to you.
| Item | Non-resident outlook |
|---|---|
| Maximum lending | Around 60-70%, lender-dependent |
| Term | Up to 30 years with some lenders |
| Foreign income | Often shaded down in the assessment |
| Currency | Australian dollar |
What to hand over
Expect a long document list. Typical items: passport and visa, FIRB approval or exemption certificate, foreign tax returns and payslips, an employer letter, bank statements showing the deposit, and details of the new dwelling or land. Some lenders want documents certified by a notary or by an Australian consulate. If your income is not in Australian dollars, ask the lender what exchange rate it uses for assessment, since a conservative rate reduces your borrowing.
State by state: duty and surcharges
Stamp duty and foreign surcharges are state matters, and they can add several percentage points. Some states also charge extra annual land tax to foreign owners. A conveyancer in the state where you buy should quote the figures before you bid, since auctions carry no cooling-off period and finance must be ready.
| Cost | Where it comes from |
|---|---|
| Stamp duty | State government; varies with price |
| Foreign purchaser surcharge | Added by most states on top of duty |
| FIRB fee | Tiered by price of the property |
| Conveyancer | Roughly AUD 1,000-3,000 |
The practical order of work
- Decide on new dwelling or land, which is where approval is possible.
- Apply to FIRB or confirm your exemption.
- Obtain written pre-approval from a lender that accepts non-residents.
- Exchange contracts with the approval condition in place.
- Settle, pay duty, and register the mortgage.
Plan on two to three months, longer if FIRB takes its time. See what is on the market in Australian apartments, houses or land.
If no bank will lend
Many foreigners buy off the plan with cash, paying a deposit early and the balance at settlement. The risk is that your funding must still be in place at the end of the build, not only at the start. Equity release on a home abroad is another route, though borrowing in one currency to buy in another leaves you exposed to exchange moves. For help finding advisers, use our contact page, and for a first sense of value try the property valuation tool.
Last updated 8 October 2026
Frequently asked questions
Can a foreign buyer get a mortgage in Australia at all?
Yes, from lenders that accept non-residents, usually with a larger deposit and more documentation. Many major banks do not.
Is the foreign ban on established homes still in force?
Yes. It began on 1 April 2025 and has been extended from 31 March 2027 to 30 June 2029. Confirm the current rules with the ATO or an adviser.
What is FIRB approval?
Permission from the Foreign Investment Review Board for a foreign person to buy residential property. It is generally limited to new dwellings and vacant land.
Why do banks reduce my foreign income?
They apply a safety margin to income in another currency, partly because of exchange moves, which lowers how much you can borrow.
Do states charge extra to foreigners?
Most add a purchaser surcharge to stamp duty, and some levy extra annual land tax. Ask a conveyancer in the relevant state for exact figures.
Is there a cooling-off period?
It depends on the state and does not apply at auction. Arrange finance before you bid.