If you are a British expat and you are living and/ or working outside the UK, finding a mortgage may seem quite difficult whether you are seeking to purchase an investment property (i.e. buy-to-let) or a property for you or your family to live in either now or sometime in the future. Many lenders simply just cannot help you. So what four things do you particularly need to be aware of?
1. Be prepared to prove everything. Aside from completing the lender’s application form, you will need
to supply (i) proof of your identity (a copy of your passport, certified by an internationally recognised
legal or accountancy firm is the most common way of providing this), (ii) proof of your address (e.g.
bank statements or recent utility bills, (iii) proof of income (your last 3 payslips and an employer
reference if you are employed, or your last 3 years audited accounts if you are self-employed), (iv)
your last 3 or 6 months bank statements for all of your accounts (held in the UK and overseas) and (v)
proof of your deposit (if you are buying a property). In addition to these standard requirements, the
lender may also request a copy of your CV, employment contract, existing mortgage statements,
tenancy agreements, etc. As most lenders providing mortgages to expats will not accept scanned
copies of documents, original documents must be supplied via post or courier.
2. It is not necessary to return to the UK to complete the mortgage application. All paperwork can
be signed and sent via courier.
3. You will need a UK bank account to make the mortgage payments.
4. Typically you should expect pay a slightly larger deposit and rates will be higher when you are resident overseas.
Many of the mortgages that we can help with are aimed specifically at the Expat market, whether you are purchasing one property for your own future residential use, or maybe to be used as the family home whilst you work away, we can source a product to meet your needs. Alternatively, if you are building a portfolio of properties in the UK we can assist with or knowledge of lenders that provide buy-to-let mortgages. You can send us an email right now to firstname.lastname@example.org as we would be happy to provide you with a free quote or help with any queries you may have.
Few other brokers have the knowledge and expertise required regarding the provision of mortgages for expatriates. We offer a tailored, personal service based on many years of combined experience in the mortgage market. We utilise the latest technology and research from a wide-range of lenders before making a final recommendation.
We specialise in sourcing expat mortgages and we're based in the UK. This means we're regulated by the UK Financial Conduct Authority and our advisers are fully qualified to provide mortgage advice.
We aim to provide you with the right kind of mortgage for your personal circumstances.
We constantly review banks' and building societies' lending policies with regards to expat lending, as they have ever-evolving rates and criteria. We can currently provide access to over 40 different lenders who are willing to accept applications from British Expats looking for UK Mortgages.
We try to be as flexible as possible with our working hours and always take into consideration the time differences around the world.
Speak to our advisors today to see how we can help you.
If a mortgage is denominated in a currency other than your home currency, there is a risk that changes in the exchange rate may increase the equivalent value of the debt in terms of your home currency.
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