Can Kiwis get a mortgage in Australia?

Kiwis can obtain a mortgage in Australia, benefiting from the Trans-Tasman Travel Arrangement that allows them to live and work indefinitely in Australia under a Special Category Visa (SCV). This visa grants them the ability to purchase property without the restrictions that apply to other foreign nationals, including exemption from FIRB review. To successfully secure a mortgage, New Zealand citizens should ensure they have strong financial documentation, explore various mortgage options, and consider consulting with mortgage brokers experienced in trans-Tasman financial arrangements to navigate the process smoothly.

Getting a home loan to buy property in Australia as a NZ citizen

New Zealanders, commonly known as Kiwis, often look to Australia as a destination for property investment, thanks to the close economic ties and free movement agreements between the two countries. Under the Trans-Tasman Travel Arrangement, Kiwis have unique opportunities and considerations when it comes to purchasing property in Australia. This article explores the specific conditions under which Kiwis can obtain a mortgage in Australia, highlighting the benefits and outlining the necessary steps.

Eligibility Criteria for Kiwis

New Zealand citizens benefit from a special status in Australia, thanks to the Trans-Tasman Travel Arrangement, which allows them to enter Australia and stay indefinitely with full work rights. This agreement significantly simplifies the process for Kiwis to qualify for mortgages as they are treated similarly to Australian citizens in many respects. To apply for a mortgage, Kiwis typically need only their New Zealand passport as proof of their right to live and work in Australia.

Special Visa Conditions and Rights

Upon arrival in Australia, Kiwis are automatically granted a Special Category Visa (SCV). This visa allows them to reside in Australia indefinitely as long as they remain New Zealand citizens. Importantly, holding an SCV means Kiwis can purchase property and apply for mortgages without the restrictions that apply to other foreign nationals, such as needing approval from the Foreign Investment Review Board (FIRB).

Mortgage Application Process for NZ Citizens

The mortgage application process for Kiwis in Australia is straightforward and mirrors that for Australian citizens. They need to provide identification, proof of income, employment details, and undergo a credit check. Australian lenders readily accept financial documentation from New Zealand, including credit histories, which facilitates the approval process.

Financial Considerations

When applying for a mortgage, Kiwis must demonstrate financial stability through credit history, income, and employment status. Australian banks evaluate New Zealand credit records similarly to local records, but it’s crucial for applicants to ensure their credit history is strong before applying. Other financial prerequisites include sufficient income to cover the mortgage and other living expenses, and often a deposit of at least 20% of the property’s value.

Types of Properties Kiwis Can Buy

Unlike other non-residents, Kiwis are not restricted to buying new properties and can purchase existing homes. This flexibility is a significant advantage, as it opens up more investment opportunities. However, some state-specific regulations may influence the types of properties that can be purchased, so it's advisable for Kiwis to research local laws in the state where they wish to buy.

Advantages of Buying Property in Australia as a Kiwi

One of the primary benefits for Kiwis buying property in Australia is the exemption from FIRB review, streamlining the purchasing process. Additionally, there may be tax advantages depending on the individual’s residency status for tax purposes. These benefits make investing in Australian property a potentially lucrative and less cumbersome option for Kiwis.

Steps to Obtain a Mortgage as a Kiwi

Obtaining a mortgage as a Kiwi involves several key steps:

  • Research: Investigate various mortgage products offered by Australian banks to find the best rates and terms. A mortgage broker can assist you with this step.
  • Pre-approval: Apply for mortgage pre-approval to understand how much you can borrow, based on your financial situation.
  • Documentation: Gather necessary documents, including proof of income, employment, and your New Zealand passport.
  • Application: Submit a formal mortgage application to your chosen lender.
  • Closing: Once approved, complete the property purchase and mortgage documentation to finalize the deal.

Potential Challenges and How to Overcome Them

Despite the relatively straightforward process, Kiwis might face challenges such as navigating the Australian legal system or understanding tax implications. Higher interest rates or stricter loan conditions might also apply, depending on the lender’s policies. To overcome these challenges, NZ citizens should consider working with a mortgage broker experienced in trans-Tasman financial arrangements and seek legal advice to ensure all requirements are met.


While the process for a Kiwi to obtain a mortgage in Australia is facilitated by the Trans-Tasman agreement, thorough preparation and understanding of the financial and legal landscape are crucial. By taking advantage of their unique position and following the outlined steps, Kiwis can successfully invest in the Australian property market. Potential buyers should conduct detailed research and seek professional advice to navigate this process smoothly.

Speak to a Mortgage Expert

If you’re a Kiwi considering buying property in Australia, start by consulting with a mortgage broker who specialises in assisting New Zealand citizens. Their expertise will be invaluable in helping you understand your options and guiding you through the mortgage application process, ensuring a successful investment.

Leave a message below and an expert will call you to discuss your situation, with no fees involved at any step of the process.

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