Expat Mortgages

BUYING A PROPERTY ‘BACK HOME’ NEEDN’T BE COMPLICATED AND COSTLY. YOU JUST NEED THE RIGHT KIND OF EXPAT MORTGAGE EXPERTISE ON BOARD

As an expat, you may be thinking about buying a property in the UK as a rental investment or as somewhere to live when you return home. For some people, securing an expat mortgage in the past has been tricky as high street lenders have struggled to work in a different currency, or there have been issues around proof of income and the ever present ‘red tape’.

Fortunately, as expat mortgage brokers, the Bespoke Money team know which lenders to approach and what information is needed to find an affordable UK expat mortgage.

WHAT YOU NEED TO KNOW ABOUT EXPAT MORTGAGES

How your income is assessed will be slightly different to that of a UK resident and currency fluctuations will be taken into account too. You may need a higher deposit, and the interest rate on a UK expat mortgage will almost certainly be higher too.

Certain lenders will be cautious if you’re based in what’s deemed a high-risk country. There may be some challenges around obtaining a full credit history if you’ve been out of the country for some time and this will also make lenders view you as a higher risk. And there will be extra identity checks too.

TALK TO AN EXPERIENCED UK EXPAT MORTGAGE BROKER

It’s essential to speak to an expat mortgage broker before you start looking for a property, so you understand all the ins and outs of what’s needed.

We have access to lenders with the lowest interest rates and the lowest set up fees who are in the market for UK expat mortgages and are willing to lend. We also know all the paperwork that’s required to ensure you secure your mortgage at the best rate possible.

Think carefully about securing other debts against your home or property. Your home or property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.