How long must funds be in Australian account before settlement?

3 months typical. Some accept shorter with strong docs.

What source-of-funds documents are needed?

12 months bank statements, income proof, transfer records.

Are there transfer limits from India?

India LRS: $250K USD/year per person. AUSTRAC reports >$10K.

Tax implications of using overseas savings?

Generally no Australian tax. Source country may have. Confirm with accountant.

Can I use as deposit immediately after transfer?

Plan 3+ months ahead of purchase for seasoning.

Can I Refinancing | Mortgagefy

Who this guide is for

New migrants and PR holders with savings in their home country wanting to use those funds as Australian home deposit.

Indian PR holders with rupees in Indian bank accounts
Pakistani/Bangladeshi families with home country savings
Chinese migrants with savings in mainland accounts
Buyers receiving family deposit gifts from overseas

The local picture

Overseas savings are accepted but documentation requirements are strict. Source-of-funds, transfer evidence, seasoning all matter. Many buyers don't plan ahead.

How Mortgagefy helps locally

Mortgagefy explains exactly what documentation lenders need, helps you time transfers, and identifies lenders flexible with overseas-source deposits.

Multilingual support. Free advice.

How it works — 4 simple steps

Free overseas funds chat

20-minute call about your funds and timeline.

Map documentation needs

We outline source-of-funds, transfer, seasoning requirements.

Application support

We submit with proper overseas-source documentation.

Settle into your home

You move in with overseas funds in place.

Frequently asked questions

We use offer letters and vesting schedules to value RSUs conservatively. We present current vesting value + projected future vesting as a 3-5 year income average. This gives lenders confidence in your income stability while accounting for market volatility.

Both. We work with W2 employees, 1099 contractors, and consultants. For contractors, we use 2 years of tax returns plus business financials. We have lenders who specialise in contractor income—they understand the variability.

Unvested options have zero value for refinancing. We count only vested equity. If you have a 4-year vest, we use 25% of the grant value (what's vested) plus a conservative projection of future vesting.

If you've been in your new role 6+ months, most lenders will refinance. We'll use your offer letter plus 6 months of pay stubs. If less than 6 months, it's harder but possible with specialist lenders.

Yes, if you have 2+ years of bonus history. We average the past 2 years and present it conservatively. Some bonuses get counted at 50% to be conservative with variable compensation.

ESPP is counted as deferred compensation. If your company matches or you have a discount, we value it as part of total compensation package.

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Can I Use My Overseas Savings as Home Deposit in Australia?