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Australia – Property Financing

Mortgages for Foreign Nationals in Australia

Lenders and Banks in Australia

Local banks and other lenders in Australia do issue mortgages to foreign nationals. However, the process can be more difficult than for Australian citizens, and the interest rates may be higher. Foreign nationals will typically need to provide proof of income and a valid work permit, as well as a larger deposit, in order to be considered for a mortgage. Some of the local lenders that provide mortgages in Australia include: 

  • Commonwealth Bank of Australia
  • Westpac
  • ANZ Banking Group 
  • National Australia Bank

Deposit Requirements for Buying Property in Australia

When buying a property in Australia, the deposit required will vary depending on the lender and the specific circumstances of the transaction. Typically, a deposit of 5-20% of the purchase price is required. However, some lenders may require a higher deposit or may have different requirements for foreign nationals. 

Responsibility for Outstanding Debts on Property in Australia


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In Australia, new property owners are not typically responsible for any outstanding debts on the property, such as unpaid taxes or utility bills, that were incurred by the previous owner. However, it is important for buyers to conduct a thorough investigation of the property and any outstanding debts or liabilities before purchasing to avoid any surprises later on. It is also important to note that when buying a property, the buyer should conduct a pre-purchase building and pest inspection, as well as a strata title search (if it’s a unit or apartment) to ensure that there are no hidden debts or issues with the property.


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