Key Takeaways
- Many lenders accept foreign income for Australian home loans
- Currency "shading" reduces effective income (typically 80-90%)
- Documentation requirements are more extensive than domestic loans
- Major currencies (USD, GBP, EUR, SGD, HKD) are most readily accepted
- Self-employed foreign income is more challenging
- Australian residents with foreign income have more options than non-residents
Whether you're an Australian resident earning income overseas, or recently returned and still receiving foreign income, using overseas earnings for an Australian mortgage requires understanding which lenders will accept your income and how they assess it.
At Mortgage & Finance Advisory, we help borrowers with foreign income navigate the lending landscape. We know which lenders accept various currencies and countries, and how to present your application for the best outcome.
Acceptable Currencies and Countries
Lenders have lists of "acceptable" currencies and countries. Generally, major world currencies are fine, while emerging market currencies may be restricted or heavily discounted.
Commonly Accepted
- USD, GBP, EUR, CAD, NZD (often 100% or small shade)
- SGD, HKD, JPY (typically 80-90%)
- AED, CHF (varies by lender)
Documentation Tip: Get your foreign documents in order early. Translated and certified copies take time. Employment verification letters should include salary, start date, position, and employment type. Bank statements should clearly show salary credits.
Frequently Asked Questions
Yes, many lenders accept foreign income, though policies vary. You'll typically need income from an 'acceptable' currency and country, with appropriate documentation including employment verification and payslips.
Typically: employment contract, recent payslips (3-6 months), bank statements showing salary deposits (3-6 months), and possibly tax returns from your country of residence. Documents may need to be translated and certified.
Lenders discount foreign income to account for exchange rate risk. If you earn GBP 100,000, a lender with 85% shading would only count GBP 85,000 when calculating borrowing capacity.
Have Foreign Income?
We'll find lenders who assess your income favourably.
