Property Overseas Help Application

Hi,

As per topic says, would overseas assets in property help an application? and if it is providing +cf income.

 

Most of the lenders will not take oversea property as a security. It is because, if there is a default situation lender(s), would not be able to reach to the security oversea. ( I am happy to hear otherwise)

In the case of +cf property oversea, it needs to prove just like oversea income. Such as tax return, bank statement,....etc.

If the applicant is a Australian resident, then Australian tax return needs to be provided showing the rental income is legitimated.

 

Any asset will make you look stronger for credit scoring. As will any type of income.

Overseas rental Income can even help in serving.

 

They won't take the property as security - but no issues in adding it as an asset. Like Terry said - it would help with credit scoring. If rental income can be demonstrated - you might get a lender willing to take a portion of it for servicing.

Cheers

Jamie

 

Depends on the lender some exclude overseas assets, even for credit scoring, exclude overseas income but use overseas debt. Pick the right lender.

 

Even when the assets and income are taken into account, a debt over the property might hurt the application disproportionately given some lenders interpretation of the overseas debt. A property that has been self sustaining for decades might be seen to be a drain on your finances due to treatment of currency fluctuations.

When we look at this sort of thing we assess the whole picture and determine the best way to go about disclosing everything. How the overseas property or assets are disclosed can make a significant difference in the overall outcome of the application. Getting good advice on this is mandatory.