Australian clients living and working in China or earning income from a China-based employer still have options when it comes to financing property in Australia. If their overseas income can be verified and the application meets the lender’s credit criteria, they may be eligible for an Australian property loan.
For brokers, the key is finding a lender that can assess foreign income and work with the client’s circumstances. MA Money’s Expat Loans can support eligible borrowers earning CNY, with 100% of net income considered for servicing once converted to AUD. Options are available across purchases, refinances and cash out.
In this article
- How CNY income can be assessed: What brokers need to know about verifying overseas income and using it for servicing.
- More options with our latest Expat Loan enhancements: How increased maximum loan sizes can help brokers support a wider range of expat scenarios.
- Real scenarios: How two applications involving CNY income progressed, including a $1.4 million Near Prime refinance and a $1.5 million refinance and equity release.
How is CNY income assessed for expat loans?
For Australian expats working in China, income earned in CNY can be used to support an Australian property loan application. MA Money can use 100% of your client’s net income for servicing once it has been converted to AUD.
| Scenario | What to know |
| PAYG | The two most recent payslips are required to verify income. Documents that aren’t in English will need to be translated by a certified NAATI translator as part of the application. |
| Recently started a new role | Short-term employment, including probation, may be considered. |
| Australian investment property income | 90% of verified rental income can be used for servicing. |
| Self-employed Full Doc | One year of personal tax returns, one year of company or trust tax returns, plus corresponding Notice of Assessment (NOA), none older than 21 months |
| Self-employed Alt Doc |
|
It helps to clearly establish how your client earns their income and gather the relevant documents early. If documents are in Chinese, or details such as the client’s name differ between documents, flag this when preparing the application so the assessment team can confirm what supporting information is required.
What are the new policy enhancements for expat loans?
As part of broader policy changes, MA Money has increased maximum loan sizes across our Expat Loan range, giving brokers more scope to support overseas clients with larger lending requirements.
The biggest change applies to Near Prime Expat Loans, with the maximum loan size increased from $2 million to $5 million. Limits have also increased for Category 2 and Category 3 properties.
| Expat loan | Maximum loan size |
| Near Prime | $2m → $5m |
| Category 2 | $1.5m → $2.5m |
| Category 3 | $500k → $1m |
The enhancements give brokers more flexibility across a wider range of expat scenarios.
Alongside the policy updates, our Residential Rate Refresh is still running until 30 September, with Expat Prime risk fees reduced to 0.50% on loans up to $5m, helping your clients save on upfront costs.
Can an Australian expat earning CNY refinance and access equity?
Australian expats earning CNY may be able to refinance and access equity with MA Money, provided their income can be verified and the application meets lending criteria.
The situation
A married couple living and working overseas wanted to refinance their Australian home loan and access equity for personal use.
The challenge
Due to their mortgage payments being disrupted while they were overseas, they qualified for a Near Prime loan. They were able to continue regular mortgage payments once they returned to Australia.
The loan
The couple applied for an Expat Near Prime refinance and cash out of approximately $1.4 million.
The result
The application was approved at 78% LVR, with servicing supported by stable employment, a positive monthly surplus and a clear retirement exit strategy.
The takeaway
Verified CNY income can support an expat refinance and cash-out application. Where there are extra considerations, providing clear supporting information upfront can help the credit team assess the full picture.
Can a borrower living in Australia use income from an overseas employer to refinance?
MA Money can consider eligible borrowers living in Australia who earn income from overseas, provided the income can be verified and meets lending criteria.
The situation
A borrower living in Australia but working for an investment firm in Beijing wanted to refinance their owner-occupied property and access approximately $1.18 million in equity.
The customer had worked for the firm since 2020 and was paid in CNY.
The challenge
The customer’s country of residence needed to be confirmed so their foreign income could be assessed correctly. The application also involved a substantial cash-out request, an existing investment loan and other considerations affecting the property.
The loan
The customer applied for an Expat refinance and cash out of $1.5 million at 80% LVR.
The application was supported by Chinese payslips and a salary certificate to verify CNY income, satisfactory mortgage conduct, a clear credit file and supporting information for the cash-out purpose.
The result
The full property valuation came in at $1.88 million, supporting the $1.5 million loan at 80% LVR, and the application was approved
The takeaway
Verified CNY income from an overseas employer can support a refinance and equity release. In this case, stable foreign employment, satisfactory mortgage conduct and supporting documentation helped the application progress at 80% LVR.
Got an expat scenario on your hands?
If you have an Australian expat client in China, or a client earning income from a China-based employer, contact a BDM to talk through the scenario and the MA Money options that may be available.
Information for broker use only. This article does not constitute financial, tax or legal advice and does not take into account personal objectives, financial situation or needs. You should seek independent advice from a licensed professional before making any financial decisions. Applications for credit are subject to eligibility and lending criteria. Fees, charges, T&Cs apply (available on request).
MA Money Financial Services Pty Ltd ACN 639 174 315 Australian Credit Licence 522267.
