How we can help?
(We only consider investment buy to let properties)
Following several changes to the mortgage rules since 2010, the number of British lenders offering non - resident mortgages in the UK has got a lot smaller.
Unlike with straightforward residential mortgages, it’s much harder to find a list of ‘best buy’ rates.
This is why using us can become a big advantage.
We have special relationships with a number of lenders that have experience dealing with foreign national lending that also includes several smaller building societies and a number of specialist lenders that only deal with intermediaries.
We are already assisting families from China, Middle East and India who have the comfort knowing that their loans can be dealt with quickly and correctly.
The following topics are covered
What is an Expat Mortgage?
An ex-pat is someone who has temporarily left his own country to work overseas. He may wish to return and make some property investments to support his future income.
What type of Deposit do I need for an Expat Mortgage?
The normal norm is 35% of the property value, however there are some lenders who may require a lower deposit. The proof of deposit need to be evidenced as well as the source to cover AML (Anti Money Laundering) requirements
What are the Income Requirements on Expat Buy to Let Mortgages?
The lenders normally consider expat mortgages on the strength of the rental income of the property if it is an investment mortgages. They also like to look at the income which should be sufficient to cover any rental voids.
Tips for Applying for UK Buy to Let Mortgages for Expats
Our top tips to make the process streamlined:
1. Use a solicitor who speaks both your local language and is familiar with UK property law
2. Use an independent lawyer
3. Make sure any legal representative is experienced within international real estate
4. Insurance may be required by some lenders when purchasing an ex-pat buy to let
5. Don't rely on online calculators for a definitive answer as to what you can borrow - these can't take into consideration all the details and criteria surrounding an expat buy to let mortgage
6. Consider whether your payslips can be translated
This article is intended to provide a general understanding of the topic and should not be treated as advice.