Case study: Non-resident refinancing investment mortgage

southbank, melbourne

If you’re a non-resident that’s paying more than 5% mortgage rate for an investment property in Australia, find out how Colin reduced his interest rate with our help.

Non-resident refinancing Southbank apartment

Mr Colin Tan (not his real name) has saved more than $400 a month in mortgage repayment on his investment property by switching to a new lender after his repayments crept up in the past 12 months.

His residential property is located in Southbank, Melbourne. His mortgage rate started at 4.59% in 2016 and crept to almost 6% after the expiry of the fixed rates. Despite record RBA interest rate at 1.5%, the tightening on lending practices on foreign investors left him with little options in Australia. When the loan repayment crept up, we helped him to source for a lower rate and sustainable mortgage solution available to non-residents.

The higher repayment resulted in a poor investment cashflow position. We looked at his personal profile, income and debt documentations and quality of his property. Bear in mind he is a foreigner working overseas outside Australia. We found cheaper rates in Australia and Singapore. After much consideration, the loan terms he took up through our advisory services are:

  • Non-resident foreign investor refinance from Australia lender to Singapore bank

  • Property is in acceptable catchment area (Southbank, Melbourne)

  • New mortgage interest rate of 4% variable at time of writing

  • Period is 30 years

  • Negative gearing-friendly

  • Full redemption or exit of the loan is allowed after 1 year

Many foreigner borrowers are paying rates above 5% and some are paying close to 7%. If you are seeking refinancing and have trouble meeting the tough new income standards, or lending policies, contact us with your details and our mortgage consultant will follow up.



How we can help

At FindAHomeLoan, sourcing mortgage solutions from Singapore and Australia for investors looking to buy property in countries like Australia is one of our specialities.

We would be happy to speak or meet with you to discuss your needs and goals. We believe you should have a mortgage partner.  Just like you engage a mechanic to make your car run smoothly, we can do the same with your investment property financing.

We’ll take the time to understand your circumstances and provide the best advice.

Contact us now to find out how we can help you!


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