Hi,
Wondering if anyone knew any info. or has experience on the pitfalls or advantages with an expat mortgage?
I live in Japan and plan to live here for 2-4 more years. Both ANZ and NAB have offices here which offer cross currency mortgages at around 2% interest, which switch to Aussie interest rates when I move back.
To get these loans you need 25% deposit, which I am in the process of saving for. My plan was to buy a 2 brm unit in Syd or Melb at around $400K, have the rental income cover the mortgage and use ongoing savings to pay the loan off quickly, then move to Australia when the loan was manageable at Aussie interest rate levels. Here is some info on NAB and ANZ.
http://www.nabasia.com/vgnmedia/downld/product_information_jp.pdf
http://www.anz.com/japan/ExpatMortgage.asp
Any info. or comment is appreciated.
Matt.
Wondering if anyone knew any info. or has experience on the pitfalls or advantages with an expat mortgage?
I live in Japan and plan to live here for 2-4 more years. Both ANZ and NAB have offices here which offer cross currency mortgages at around 2% interest, which switch to Aussie interest rates when I move back.
To get these loans you need 25% deposit, which I am in the process of saving for. My plan was to buy a 2 brm unit in Syd or Melb at around $400K, have the rental income cover the mortgage and use ongoing savings to pay the loan off quickly, then move to Australia when the loan was manageable at Aussie interest rate levels. Here is some info on NAB and ANZ.
http://www.nabasia.com/vgnmedia/downld/product_information_jp.pdf
http://www.anz.com/japan/ExpatMortgage.asp
Any info. or comment is appreciated.
Matt.