The right mortgage for you depends on many factors, including your budget, credit score, life stage, deposit size, the type of property you’re buying and
The right mortgage for you depends on many factors, including your budget, credit score, life stage, deposit size, the type of property you’re buying and
UK Expat Mortgages provide a way of buying a property in the UK whilst living abroad.
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An expat is someone who’s currently living in a country where they are not a national.
For example, if you’re a UK national but living in Dubai you’d be considered a UK expat. Â
An expat mortgage is a mortgage you take out in the UK whilst living elsewhere in the world. If you’re not a UK national but live abroad and want to buy property in the UK, you’ll need an expat mortgage. Â
You can get expat mortgages and remortgages for both residential and buy-to-let properties in the UK. These come with options for repayment or interest-only, and you can choose from fixed, tracker, or discounted rates.Â
If you’re considering an expat mortgage for a residential property, it might be the right choice if you’re planning to move back to the UK. Alternatively, if you’re currently living abroad but your family is in the UK, you might want to buy a property for them to live in, as well as for yourself when you come back. You can choose a repayment or interest-only mortgage depending on your needs. A repayment mortgage could be a good fit if the property is going to be your main home, as it will help you clear the balance by the time you retire.Â
If you’re thinking about an expat mortgage for a buy-to-let property, this could be a good option if you’re looking to remortgage a residential property into a buy-to-let because you’re moving overseas. It also works if you’re based abroad and already have consent to let a UK property but need to remortgage it as a buy-to-let. If you’re renting out your UK property from overseas – possibly under consent to let – you might also want to remortgage it as a buy-to-let to release some funds. Whatever your situation, there are flexible options available to suit your needs.Â
Remortgaging doesn’t have to be this overhanging shadow every time the renewal letter drops through your inbox. We’re committed to making your remortgage process seamless, tapping into our years of experience with lenders, products, and options to simplify the experience. We’ll do all the heavy lifting for you.
We search the whole of market, looking and comparing 1000s of mortgage rates for you. We’ll review your eligibility across hundreds of lenders and make sure to find the most suitable deal for you!
You’ll be assigned a dedicated mortgage adviser and case manager from your first call with UKMC, providing you with a single point of contact throughout your remortgage, ensuring you won’t be passed around to different team members for each query.
With our easy access portal, you’ll be able to seamlessly access and download comprehensive reports on your property with just a few clicks.
Reports include:
Broadband speed
Energy efficiency rating
Property price trends in your postcode
Breakdowns of property types, tenure, professions, and crime in your area
Flood risk
Geology report
Infrastructure projects
Radon risk
Life happens, and let’s face it, when you work a 9-5 job, it’s often impossible to make appointments during standard business hours. That’s why we offer late-night appointments 5 days a week. We are committed to accommodating your schedule, ensuring you receive the support you need at a time that works best for you.
Put simply, an expat is someone living in a country where they are not a national. For example, if you’re a UK citizen but currently live in Dubai, and are looking to buy property back in the UK, you’d be considered a UK expat.
In short, yes. Provided you meet the lender’s criteria, it doesn’t matter whether you’re an expat moving to the UK or still planning on living abroad.Â
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There are three types of expat mortgages you can apply for; residential, buy-to-let and holiday let mortgages. By contacting an expert mortgage adviser at UKMC you’ll be able to understand your eligibility. Â
The amount you will be able to borrow will depend on a wide range of factors including, your current earnings, savings and your debt to income ratio. Your mortgage adviser will be able to crunch the numbers and work alongside you to understand your financial circumstances to secure you with your agreement in principle. Â
Whilst this can vary from lender to lender as a general rule, you will need a UK bank account. Â
Lenders may also want to see a form of UK ID.
It’s important you understand how much you’re able to borrow. Your dedicated mortgage adviser will access your foreign earnings, any debt you have and your savings to secure you an agreement in principle from a lender. Â
Depending on the type of mortgage, whether it be residential, buy to let or even a holiday let, lenders will have a set criteria you will need to match with in order to secure a mortgage.Â
Your adviser will search the whole market, even some lenders you may not know, to find the most suitable deal for you. Once you’ve found your preferred mortgage, your adviser can get to work submitting your application. Â
Your expat mortgage adviser will follow you through all the way to completion ensuring you get the keys to your property and the process is as simple and straightforward as possible. Â
What Is The Criteria To Apply?
Where you live and your tax residency status can impact your application
Lenders typically prefer income that’s in stable currencies such as GBP or EUR, and that can be verified.
Permanent salaried jobs are considered more stable, though self-employed expats can also qualify with extra documentation.
Whether you’re buying a home or applying for a buy-to-let mortgage in the UK can influence the criteria you need to meet.
Each lender has their own requirements, so get in touch with our expert advice team to help you find the best options for your situation.Â
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UK Mortgage Centre Limited is an Appointed Representative of Refresh Mortgage Network Limited. Refresh Mortgage Network Limited is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register under firm number 1019794.Â
As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.Â
The Financial Conduct Authority does not regulate will writing and taxation and trust advice.
You may be charged a fee for your advice. A typical fee is £495, which would be payable when you receive your mortgage offer. Your dedicated advisor will discuss this further on your free initial phone call.
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