Financing Overseas Property with SG loan
Hi everyone, looking for insights from anyone who has financed an Australian property while based in Singapore.
Status: SC+ Aus PR (working in SG)
Monthly Income: ~8k++ net take-home (~S10k gross)
Existing Debt: ~S$200,000 outstanding HDB housing loan, 15++ yrs left.
Target: Residential property in Australia (plan to invest initially, then transition to PPOR)
Questions:
**Singapore Bank vs. Australian Bank Financing**
* Which route gives a higher borrowing capacity after accounting for my existing S$200k HDB gov loan left.
* Any idea what’s the rough borrowing rate via an overseas property loan from an SG bank (DBS/OCBC/UOB in SGD or AUD)? I’m trying to compare it against an expat/foreign-income package from an Australian lender (I have rough numbers).
* is the idea of mortgage splitting across both an Australian and a Singaporean bank for the same property, an option?**Investment vs PPOR**
* does buying for rental vs for myself make a difference in max loan amount I can get?
Would love to hear from mortgage brokers, expats, or anyone who has navigated this recently. Thx!