Mortgages for Overseas Buyers
and Expats
Obtaining a mortgage for a property in the UK whilst living overseas can be tricky, but it is possible with the right guidance
If you’re currently living and working outside of the UK and are looking to buy or remortgage a property in the UK, it can be difficult to navigate the market and find a lender who can help. At The Mortgage Story, our dedicated advisors are specialists in overseas and expat mortgages and so we understand the requirements, restrictions and products available from lenders who can help expats and overseas buyers to mortgage their properties in the UK.
In some cases, you may be looking to buy a property to live in before moving to the UK, not all lenders will lend to overseas clients on a residential basis but don't worry, we've got you covered
Lenders who can consider cases from Expats or Overseas buyers typically only offer mortgages for buy to let properties, rather than residential as there are more regulations surrounding a residential mortgage compared to a buy to let one, however, there are lenders out there are a handful of lenders who offer residential mortgages to Overseas and Expat clients.
It can be an incredibly time-consuming process trying to find the right lender, so leave that up to us instead, you can rest assured that with our experience in the field, we’ll find you the best deal possible based on your circumstances. Discover why The Mortgage Story has become one of the leading expat mortgage brokers for buyers and investors in Surrey, Essex, and across the local area and get in touch to discuss your goals and requirements today.
The main factors that impact applying for overseas and expat mortgages
Income
Lenders will review what you do for a living i.e. are you employed or self-employed?
If you are employed, some lenders like to see employment with a multinational company, although this isn’t essential for all lenders.
Other lenders can be strict around self-employed applicants for overseas/expat cases and for those who run limited companies, they may request to see audited accounts.
Most lenders accept foreign currencies to support the loan, however, there are usually restrictions on any income received in a currency which is subject to financial sanctions for example.
Minimum Loan Amount
The majority of lenders who offer mortgages to Overseas clients or expats do have a minimum loan requirement which is typically £75,000-£100,000.
There are a small number of lenders who may have smaller minimum requirements, but this does limit the number of lenders available to you.
Deposit
Depending on whether the case is residential or buy to let, the minimum deposit is typically 20-25% with the majority of lenders.
Lenders will need to be able to see the deposit trail, i.e. how these funds were accumulated.
Country
Many lenders will have a list of countries that they are able to accept mortgage applications from, whether you’re an expat or a foreign national overseas. Typically, lenders will not work with countries subject to financial sanctions, however, there are a small number of lenders who will review on a case-by-case basis.
Some lenders do also have restrictions on working with countries within the EU following Brexit, this is due to the complexity of the regulations.
It’s always best to speak to your broker so that they can determine if there are suitable lenders for your case.
So if you've just moved to the UK from abroad and you're looking to purchase a property, then get in touch with us, we can help save you a lot of time and stress!
Why Choose The Mortgage Story for Your Expat Mortgage?
Combining a wealth of experience with an unwavering commitment to our customer’s success, we are proud to be your go-to partner for all your expat mortgage needs. With clients in Surrey, Essex, and across Greater London, we know there is no one-size-fits-all approach to securing the right product for our client’s specific requirements. That’s why we take the time to understand your hopes, goals, and specific circumstances to take the stress out of your mortgage journey.
Our dedicated expat mortgage advice for UK properties includes:
• Whole of Market Access: With access to lenders from across the market, we can find the best mortgage product based on your circumstances.
• Customer-Centric Approach: Our bespoke service for each and every client ensures our customers are at the centre of everything we do.
• Quick and Simple: Rest assured that we will take care of the details and find the best product for you in a shorter timeframe than your bank. Book your no-obligation consultation regarding your expat mortgage for a UK property today!
Get in touch to arrange a free consultation
What We Do For You
Source The Best Deals
Our role is to find you the best deal based on your circumstances and with access to the whole market, you can trust that we will find the best deal for you.
We’ll take into consideration your individual circumstances in order to find the most suitable lender for your case,
Provide Additional Services
There’s a lot to think about when it comes to buying a property, but there are other aspects, aside from mortgages that we can help with.
We can help with finding the right solicitor to deal with your case or even local firms to carry out your surveys if you like. It’s one less thing that you need to worry about.
Work Quickly and Efficiently
There’s nothing more frustrating than having a mortgage adviser who takes days to respond to your last email. So, we’ve made it our mission to always be as responsive as possible so that you can get the answers that you need in as little time as possible.
Mortgages for Expats and Overseas Clients
If you’re living outside of the UK and need help with finding a mortgage for a property in the UK, then get in touch with us using the form below. We will help to navigate you through the entire process.
For a free & personalised quote, get started by entering your details below.