Upsizing home as an Australian expat with foreign income
Occupation
PAYG – Accounting
(Expat working in Malaysia)
Location
NSW (Cat 1)
Loan Amount
$1.2m
LVR
70%
Property Type
Townhouse
Scenario
Mr L is an Australian Permanent Resident working in an accounting firm in Kuala Lumpur. His wife, Mrs. L lives in Sydney with their young children.
Mr and Mrs L wish to upgrade to a bigger house and rent out their existing owner occupied property. However, most banks either don’t accept Mr L’s Malaysian income, or they would apply a significant shading on his income, which would largely impact how much Mr and Mrs L can borrow.
How did Brighten help?
We accepted 90% of Mr L’s offshore net monthly income plus his bonus payments received in the past financial years. We also accepted Mr and Mrs L’s rental income from their current owner occupied property after receiving a rental appraisal letter from a registered real estate agent.
We approved a $1.2m loan at 70% LVR under the Brighten Elevate product.
Fees, charges, lending criteria applies.