Expat mortgage brokers UK
Living ABROAD and looking to buy a UK PROPERTY? Talk to a SPECIALIST UK expat mortgage broker
As an expat you may be considering buying a property in the UK. Typically this would be for use as a buy to let investment property or as a home for when you return to live in the UK.
Most high street lenders don’t offer expat mortgages, mainly because they can’t easily credit search expat applicants and verify complex income situations. It’s just not their bag.
Fortunately, an expat mortgage broker will have access to the niche lenders that are interested in helping expats buy UK property.
What is an expat mortgage?
An expat is a UK national who is living, and usually working, abroad.
An expat mortgage is a mortgage for a UK property, this could be a buy to let, holiday let etc, taken out by an expat who will be living overseas. The purpose of the mortgage could be to purchase or remortgage but it is the status of the borrower that is important here.
If you are away working on a ship for up to six months each year, you won’t be classed as an expat, but you could find that a mortgage specifically for seafarers is helpful. These are offered by lenders who understand the nature of your work and how your income is likely to be paid.
Will I need a expat mortgage broker?
Arranging a mortgage is far more complex for expats than for UK residents. There are less lenders to approach and many of these are not easy to find! Many of them actually prefer receiving their business via brokers.
The best ex-pat mortgage brokers know which lenders are actively accepting expats and on what basis. They are constantly kept up to date with changes to the lending criteria and the interest rates etc.
Experienced brokers can also find lenders that are happy with complex income structures that could include:
- foreign earned income
- investment income
- family trust
- offshore investments
- international wealth
To have the widest possible choice of lenders you will need to work with a mortgage broker that is experienced in arranging mortgages for expatriates.
In addition to this extra choice, your broker will be able to provide advice concerning your arrangements and also monitor your application once it has been sent to the lender.
What are the benefits of working with an expat broker?
There are quite a few but we would suggest:
EXPERTISE – Arranging a mortgage for an expat UK national is very different to arranging a standard mortgage. By having an experienced broker on your side you will get the benefit of their expertise in steering you through the various options.
CONTACTS – Many of the expat mortgage lenders are not visible on the high street and do not appear in a brokers sourcing software. But a broker in this market will have built up strong relationships with these lenders over the years and will be aware of the type of borrowers that they are looking for.
TIME – Your broker will remove the main burden of finding, agreeing and applying for an expat mortgage. While they are working hard to find a solution you can get on with your life.
What can a broker do?
Finding the right expat mortgage for a borrower takes knowledge, experience and the ability to negotiate. These mortgages are not ‘off the shelf’. Mostly they are manually underwritten (assessed) and your broker will be instrumental in this process, making sure your situation is correctly represented.
They will have access to UK lenders, private banks, specialist lenders and family offices.
Consequently there’s no real upper limit on the amount of mortgage achievable, as long as the lender feels comfortable with it. Large mortgage loans are commonplace in these situations with exclusive or bespoke terms to match your requirements.
The next step
It’s always advisable to speak with your mortgage broker as early in the process as you can. Sometimes they will see issues that aren’t always obvious.
Respect Mortgages can connect you with one of the best expat mortgage brokers in the UK, who regularly help UK expats arrange mortgages for properties in Britain.
Their highly experienced team have access to expat mortgage lenders not available on the high street that can take into account complex income structures like family trusts, offshore investments, international wealth and multi-currency income profiles.
CONTACT A MORTGAGE BROKER
If you are ready to take the next step then we can put you in touch with a fully qualified independent mortgage broker.
A wide range of mortgage options
LOOKING AFTER YOUR BORROWING NEEDS
Buy to let
Competitive buy to let mortgages that include options for SPV borrowing, purchase, remortgage or capital raise.
Holiday Let
Specialist advice for UK holiday let mortgages including Furnished Holiday Lets, Airbnb and mixed use properties. Solutions for purchase, remortgage and develop.
Moving Home
Take the stress out of finding a moving home mortgage by letting our brokers arrange that for you.
Second Homes
A second home mortgage will allow you to purchase a UK holiday home for you and your family to enjoy.
Remortgages
Time to remortgage? Switch your mortgage to a new lender and grab yourself a new interest rate at the same time.
Right to Buy
If you are a local authority tenant and want to buy the property you’re living in using the Right to Buy scheme, we can help you find the best mortgage deal.
Guarantor / JBSP
If you are struggling to qualify for the mortgage you need, or don’t have enough deposit, then perhaps a guarantor mortgage could help.
Just a small selection
of the 120 banks, building societies and specialist lenders that you could have access to.
Only an independent mortgage broker has the ability to search the whole of the market to get the best mortgage for their clients and their individual situation.
First Time Buyer
All the help you need getting onto the property ladder and buying your first home. Including a cracking mortgage deal, sourced just for you.
Equity Release
An equity release lifetime mortgage can provide a tax-free lump sum or ongoing sums of money that you can spend however you wish.
Specialist Mortgages
Multiple streams of income, employment status, size of mortgage or perhaps an unusual property? Let’s get to work…
Mortgage Guides
Our mortgage guides will help you understand and compare different mortgage products whether you’re starting out, moving, remortgaging or buying to let.
Insurance
Making sure you, your home and your mortgage are protected against the unexpected.
Mortgage Calculators
Our easy to use mortgage calculators can help you at every stage of your mortgage journey. From working out what you could borrow to calculating the Stamp Duty.
SPV Mortgages
Rather than buying an investment property in their own name, many investors are now choosing to do this through a Special Purpose Vehicle limited company, or SPV.
Mortgages for professionals
Securing a mortgage can be a challenging process, but if you are a professional with qualifications and a stable income, you could be eligible for mortgages designed specifically for certain occupations.
Typically, this includes solicitors, accountants, doctors, and others who are viewed as having stable, high-earning professions.
Your status as a professional may grant you access to exclusive rates or bespoke deals that general mortgage products don’t offer.
