Fordo81Participant@fordo81Join Date: 2015Post Count: 1
Do I need to disclose foreign investment property debt to the banks in Australia when applying for a mortgage for an Australian investment property? It seems very unfair the banks look at foreign investment debt but not the rental income.mj23001Participant@mj23001Join Date: 2012Post Count: 10
Depends if the bank/lender is aware of your international activities. In some cases, it may be beneficial to keep those details out of the application.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,018
may be beneficial to keep those details out of the application.
But of course would be mortgage fraud not to disclose.
Yours in FinanceJason DParticipant@jasondras80Join Date: 2019Post Count: 24
If you already own a property in Australia and only have 60-70% remaining on the mortgage, you can actually use your equity for buying property overseas. Your Australian lender won’t accept a foreign property as security outright but you can do a cash out with the help of your mortgage broker.