Islamic home finance for temporary residents

Last updated 2 November 2026 · Reviewed by Riyadh Financial Services Compliance

Who can apply?

Selected Ijaar home finance is available to some temporary visa holders who live in Australia. Whether you're eligible depends on your visa type, your income and your circumstances, and the financier assesses each application.

• Temporary residents living in Australia: may be eligible for selected Ijaar home finance.
• Australian and New Zealand citizens and permanent residents: eligible to apply for our Ijaar home finance, subject to credit criteria.
• Australians living and working overseas: may be eligible for selected Ijaar home finance.
• Non-residents: may be eligible for selected Ijaar home finance. Foreign buyer rules and FIRB approval apply, as they do for temporary residents.

Do temporary residents need FIRB approval?

Usually, yes. Under Australia's foreign investment rules, most temporary residents are treated as foreign persons and need approval before buying residential property in Australia. Application fees apply, and approval can come with conditions.

There are some exceptions, for example in some cases when you buy jointly with your Australian citizen or permanent resident spouse. The Australian Government's foreign investment website (foreigninvestment.gov.au) explains the rules, and your solicitor or conveyancer can confirm what applies to you.

What property can temporary residents buy?

Foreign buyer rules affect which homes you can buy:

• Established homes: the Australian Government has put a temporary ban on foreign persons, including most temporary residents, buying established homes, with limited exceptions.
• New homes and vacant land: may be possible with FIRB approval and conditions, for example a requirement to build within a set time on vacant land.

These rules can change. Check the current position on foreigninvestment.gov.au before you sign a contract.

What extra costs should you plan for?

• FIRB application fees.
• Foreign purchaser surcharges. Most states and territories charge extra stamp duty, and some charge extra land tax, when a foreign person buys residential property.
• A vacancy fee if the property isn't lived in or rented out for enough of each year.
• The usual purchasing costs, such as stamp duty, legal fees and government registration fees, plus fees for the finance.
• Conventional property insurance. Takaful isn't currently available through our products.

Your solicitor or conveyancer can tell you which surcharges apply in your state or territory.

What does the financier look at?

As with any application, the financier assesses whether the finance suits you and whether you can afford it. For temporary residents, that usually includes:

• Your visa: its type and the time left on it.
• Your income: how stable it is and where it's earned.
• Your own contribution towards the price and costs.
• Your credit history, in Australia and, where relevant, overseas.

Your broker will confirm the documents you need.

How do you get started?

1. Talk to your broker, or contact us and we can refer you to an accredited broker. Talk them through your visa, your income and the property you want to buy.
2. Check FIRB requirements with your solicitor or conveyancer before you sign a contract.
3. Apply through your broker for selected Ijaar home finance.
4. Approval and settlement. If approved, you sign your documents, and at settlement you become the registered owner.

General information only. It isn't financial, tax, legal or religious advice and doesn't consider your objectives, financial situation or needs. Fees, charges and credit criteria apply.