How much can I borrow for overseas income loans?
Different lending institutions have different standards, but the general LVR is between 60% and 80%, which is lower than the proportion of domestic income that can be borrowed. Do you want to know how banks and lending institutions determine your loan amount?
What proportion of overseas income can be adopted?
Generally, lending institutions will only accept overseas income in a specific currency and calculate the income at a ratio of less than 80% to prevent exchange rate fluctuations. In addition, overseas income generally cannot be used to calculate negative tax deductions, so it will reduce your ability to borrow.
What are the acceptable currencies for overseas income?
British pound, US dollar, euro, Singapore Dollar, New Zealand Dollar, Canadian dollar, Hong Kong dollar, Japanese yen, Renminbi
What are the application materials for overseas income loan?
Generally speaking, in order to confirm the authenticity of overseas income and expenditures, it is often necessary to submit more proof of income than local income, such as：
The last two pay slips
Bank statement showing income for 6 months
Employer's certificate
Work contract
3 months credit card bill
6-month loan bill
In addition, if you are already married to a foreign citizen and want to use the other party's income to apply for a loan, please be sure to confirm whether the lending institution can use your spouse's income, what is the proportion, etc.
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