Expat Mortgages

Mortgages if you have been working abroad.

More and more people get a job abroad – that's the fun bit. Proving your taxable income in the UK – that is the challenge. However, plenty of banks out there offer expat mortgages. Although often a more complicated mortgage, it is indeed doable.

Expat Mortgages South Coast

What defines someone who is Expat?

Different lenders and different banks will have different definitions. The most common is that you are British, have lived in the UK at some point, have left the UK to work and thus have very little financial exposure/credit profile left in the UK.

How do you prove where you live to get an Expat mortgage?

It will be different in every country in terms of what you can get. It also will depend on your residency – if you are regarded as ‘resident' in the offshore jurisdiction, you will typically have a personal tax return that will always confirm your address.

What kind of proof is accepted for my income?

As an employee – payslips – but nothing better than a tax return – to prove your taxable income from all sources.

Can I get an Expat mortgage from a UK High Street bank?

No. It is a specialist mortgage, and the lending criteria verifies the overseas income rather than the UK income - most UK High Street banks are not geared up for this kind of mortgage.

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Will I have to pay more interest if I have International income?

Yes - of course, you will. However, it all depends on the type of mortgage that you want or need. An expat mortgage for a UK Buy-2-Let – that will be easier as the stress test is on the rental income received – and the same rules apply as a UK BTL. A residential mortgage, however - where the income of the expat alone has to be stress tested – any UK lender will be tougher on this – the amount of the income and the source of the income.

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Frequently Asked Questions: 

What if I want to rent out my house?

n the first instance you should seek permission from your Mortgage Lender. Your lender may increase the interest rate to reflect the change in risk, as you need a specific Buy-2-Let Mortgage. We can provide you with advice on your mortgage and insurance options. Remember that you may also need to change the type of building insurance you hold on the property to ensure it is appropriate for this purpose.

Do I have to have a survey?

It will always depend on what your lender insists upon. You have to have a valuation if you are buying with a mortgage but you may not need to have a survey. However, in most situations it is advisable. There are different types of valuation and different lenders charge different amounts of money for them. The valuation can be called a ‘desk-top valuation’

What is 'Whole of Market' mortgage advisor?

A Whole of Market mortgage advisor is an impartial intermediary who acts solely in the interests of the mortgage borrower and not the lender. Unlike the High Street banks, Whole of Market advisors provide advice from products across more than one lender, offering a much wider choice.

Where can I get more information?

Please visit our FAQ page here or contact Bram directly and/or get a confidential & professional call back from Bram here.

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London West End office:

020 7504 1090

Isle of Wight office:

01983 642 643