A couple buying their first home for $1,200,000 earn 64% of their income in Japan, paid by invoice. Most lenders treated it as self-employed foreign income and would not accept it. Bankwest accepted it, at 80% LVR.
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An associate lawyer with more than 1.5 years at her employer and around four years in the industry, promoted in January 2026. Her partner is a professional athlete playing in Japan, with his current club for more than two years and almost five years in the industry.
Both are high income earners who are careful with discretionary spending, and they had saved a large deposit for their first home.
The way he is paid was the sticking point. He is paid by invoice and manages his own tax in Japan, lodging his own returns. Most lenders viewed him as self-employed and could not accept foreign income earned that way. Without it, 64% of the couple's income would not count.
Most lenders that do accept foreign income limit borrowing to around 70% of the property value. On a $1,200,000 purchase, that would have required another $120,000 in cash.
They had also already applied through a major bank and were unhappy with the service.
| Item | Position | Issue for a lender |
|---|---|---|
| His income | $206,433 a year, earned in Japan | Paid by invoice with his own tax managed in Japan, so most lenders treat it as self-employed foreign income |
| Her income | $115,591 base plus $480 phone allowance | Two pay rises in 2026 |
| Housing | Provided free by his employer | A notional rent still has to be allowed for |
| Living expenses | Two households in two countries | Cannot be assessed as a single household |
| Deposit | Saved for an 80% LVR purchase | Most lenders that accept foreign income cap borrowing at around 70% |
| Metric | Figure |
|---|---|
| Lender | Bankwest |
| Outcome | Fully assessed pre-approval |
| Purchase price | $1,200,000 |
| Loan amount | $960,000 |
| LVR | 80% |
| Typical cap for foreign income | Around 70% LVR with most lenders |
| Extra cash avoided at 80% LVR | $120,000 |
| Income relied on for servicing | $322,504 |
| Overseas income included | $206,433 |
| How the overseas income was treated | Foreign PAYG income, not self-employed |
| Living expenses assessed | $6,780 a month across two households |
| Notional rent allowed | $650 a month |
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