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Lending Options

Buying a home – it’s the great Australian dream. Turning that dream into reality begins with the right information. There are various ways to borrow money. The choice you make and your circumstance’s affects how much you can borrow as well as the types of loans you can apply for. When choosing your home loan you should ensure it not only has the features that work for you now, but also the flexibility to work for you in the future – because everyone’s life changes

The London office offers loans from two broad categories; onshore and offshore.

Onshore Australian Loans

Onshore loans are the exact same loans that are offered to Australians in Australia. They can be interest only, Principal and Interest, Fixed rate and Variable rate. The London office facilitates the application process and the ongoing servicing of the loan by providing a London transfer account that you can convert £GBP to $AUD to meet the necessary loan repayments.

Offshore Australian Loans

Australian Residential Property Loan  (ARPL) provides the ability to finance the purchase of property in Australia, through the Commonwealth Bank of Australia. Australian and New Zealand residents, along with foreign citizens who have obtained Foreign Investment Review Board (FIRB) approval, are eligible to apply for lending.

Benefits include:

• Lending can be denominated in the currency earned, or in Australian dollars e.g. An Australian expatriate working in the UK may choose to borrow in Great British pounds
• Payments can be made monthly, quarterly or semi annually. Lump sum payments can be made without penalty.
• Lending available as interest only or as principal and interest
• Loan term up to 25 years
• Dedicated UK based Relationship Managers

For further information about the Australian Residential Property Loan (ARPL) please click here to read our Product Information Booklet (PIB). The Commonwealth Bank strongly recommends you consider the PIB carefully, before entering into a lending contract.  To download an ARPL application form, please click here.

Call our Home Loan Specialist Howard Smith on +44 (0) 20 7710 3998 or email howard.smith@cba.com.au for further information, or to arrange an appointment at our London office.

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