UK Expat Mortgage

We help expats secure mortgages in the UK.
About UsExpat Mortgage Guide

Our Services

Residential

Mortgages for British expats living abroad buying residential property in the UK

Buy to Let

Buy to Let mortgages for expats looking to invest in the UK property market.

Remortgaging

Remortgaging existing UK property for expats living overseas and earning in foreign currency.

Book a Free Consultation

If you’ve struggled to get a mortgage or agreement in principle from your bank, or even with another mortgage broker, don’t hesitate to get in touch.

Book a free, no-obligation call with our expats to see if you’re eligible for a UK mortgage and how we can help.

Luther has been an extremely diligent and helpful mortgage advisor. He was able to offer advice on mortgaging a property that other advisors had told us was not possible.

J Woodland

Luther took on my remortgaging case despite several complexities (expat living in a higher financial risk country, requiring a loan to purchase property here, through remortgaging my UK house). Luther delivered in every regard, maintaining excellent communication throughout.

Matt H

Louis has been brilliant from moment one. Very personable, kind, knowledgeable and thorough. Working across different time zones was not a problem at all and Louis was always ready to help guide me through any jargon that I had to decipher – he knows what he is talking about!

Nusrath H

Client Stories

Fast Expat Mortgage

Fast Expat Mortgage Approved in Just 4 Working Days

Expat mortgages can present unique challenges, but with the right expertise, even complex cases can be resolved swiftly and efficiently. The Client Our client, a UK national, was in the process of relocating back to the UK from the United States with his family. They had already exchanged...
Expat Mortgage Case Study

Case Study: Successfully Securing a UK Expat Mortgage for an Irish Passport Holder

Key Challenges Irish Passport Holder Treated Differently by Lenders: The client held an Irish passport, which complicates the process as not all lenders treat Irish passport holders with the same rights as UK citizens for mortgage eligibility. The client's previous broker had actually overlooked...
US Expat Mortgage

Mortgage for Expat in America Buying New Build in the UK

New build properties are particularly popular for expats: they come without the aches and pains of older buildings and require little-to-no-maintenance - ideal for if you’re overseas and not able to easily inspect and repair your property.  But new builds are very competitive when it comes to...

How We Work

Consultation

Book a free call with one of our expat mortgage brokers so we can explore your borrowing potential. We’ll need to know where you’re based, your income, and your property aspirations.

U

Compare

If you’re eligible, we’ll compare options from multiple expat lenders, high street banks & international building societies to find the best fit for your situation. We are whole of market and fully independent.

h

Agreement In Principle

When we’ve found the best terms for you, we’ll present you with your options and provide your Agreement in Principle to solidify your buying position.

Application

We’ll submit your full mortgage application. We do the heavy lifting, keeping it as simple and stress-free for you as we possibly can – and we’ll keep you updated every step of the way.

Completion

Enjoy your new UK property, with the peace of mind that you got the best deal on the market for your mortgage.

About UK Expat Mortgage

An independent, whole of market, UK expat mortgage broker.

Expat Mortgage Calculator

Find out How Much You Could Borrow

How It Works

Our calculator is designed to give you a rough indication of how much you could borrow with an expat mortgage, depending on your income and the currency in which you’re earning.

We provide 3 figures: a low, medium, and higher estimate.

      • The lower estimate is a figure we would be confident in securing for you provided that you meet the basic minimum eligibility criteria.

      • The medium estimate is also very achievable, but will depend more greatly on other variables such as your income and employment structure, country of residence and credit history.

      • The higher estimate represents the upper limits of your borrowing potential and may be achievable on a case-by-case basis. This will largely depend on the aforementioned variables, but may also only be achievable via a private bank, which could present a more expensive option.

    At UK Expat Mortgage, we can take your application to multiple lenders and package it in the best way possible to ensure you get the maximum borrowing potential available should you need it for your property purchase.

    We also negotiate rates on your behalf, and handle your application from start to finish until you own your UK property.

    Complete Guide to Expat Mortgages

    The expat mortgage process varies depending on whether you’re:

    • Returning to the UK and buying a new home
    • Purchasing or remortgaging a Buy to Let property in the UK while you’re an expat abroad
    • Or buying or remortgaging a residential home in the UK but staying abroad

    If You’re Returning to the UK

    When returning to the UK after living abroad, you’ll generally have two main paths to explore:

      1. Standard UK mortgage
      2. Specialised expat mortgage product

    Standard UK Mortgages

    These mortgages typically offer the best interest rates and most favorable terms.

    You’ll find them advertised by high street banks like Santander, and the main advantage of these products is their competitive rates and terms.

    However, they come with a significant caveat: they usually require a solid UK credit history, which you may not have if you’ve been living overseas for an extended period.

    Expat Mortgages

    If you don’t have a strong UK credit history, expat mortgages become a viable alternative. (We’ll cover how you can build a UK credit profile quickly later, as sometimes it can be worth delaying your application to do this).

    Here’s what you need to know about expat mortgage products:

      • Interest rates: Typically 0.75-1% higher than standard UK mortgages
      • Terms: Generally less competitive when it comes to perks like free valuations (typically £999) and reduced lender fees
      • Flexibility: Many returning expats choose to take out a 2-year deal and then remortgage to a UK resident mortgage at the end of the term

    Despite the slightly higher costs, expat mortgages remain a popular and viable option for many returning expats to get their foot back on the UK property ladder.

    Building Your UK Credit Profile

    If you’re aiming for a standard UK mortgage, establishing or re-establishing your UK credit history is key.

    At UK Expat Mortgage, we can advise on the best approach for you and roughly how long it may take, but here are some generally effective strategies across the board:

      1. Register to Vote: Use a family member’s address (with their permission) to quickly start building credit.
      2. Open a UK Bank Account: Once on the electoral roll, use this to apply for a UK bank account. Ensure it’s an account that reports to UK credit rating agencies like Experian. If you can get yourself added to a utility bill at the property too at this stage, this can also help.
      3. Create a Credit Report: Start building an Experian credit report to potentially become eligible for a UK mortgage.

    Alternatively, you could consider renting and applying this same strategy, but with most rental contracts lasting a minimum of 12 months (or 6 months at best), this is a longer-term approach and might not be worth the costs.

    If You’re Purchasing or Remortgaging a Buy-to-Let

    Getting a buy-to-let mortgage in the UK as an expat has its challenges, but it’s far from impossible.

    There are specialised lenders who offer mortgages specifically for expats looking to invest in UK property.

    Key Features of Expat Buy-to-Let Mortgages:

      • No UK residency required
      • Ability to earn in a foreign currency
      • No need for a UK credit score (although it helps)
      • Top slicing personal income is an option
      • Borrowing up to 75% loan-to-value (varies by lender and circumstances)
      • Borrowing capacity typically 3.5 to 6 times your income

    These mortgages are designed to accommodate the unique circumstances of expats, including overseas residency, earnings in foreign currency, and lack of UK credit history.

    Interest-Only Option

    Consider exploring interest-only expat mortgages.

    These can provide more flexibility for your cash flow while you’re working overseas and are generally popular among expats, especially those earning large annual bonuses, for example.

    You can repay the mortgage ad hoc in line with your earnings, or simply service the interest until you sell the property further down the line, hopefully taking profits from rental income and asset apreciation.

    If You’re Buying or Remortgaging a UK Home & Staying Abroad

    Many expats face rejection when approaching high street banks for mortgages while living abroad.

    This is because most of these banks aren’t set up for expat mortgages – they lack specialist underwriters and focus on generic UK mortgages.

    Remember: A mortgage advisor from a high street bank can only advise on that bank’s own products. If they can’t offer an expat mortgage, they might tell you it’s not possible, when in fact it is through other lenders.

    This is where specialist expat mortgage brokers come in. We have connections with:

      • High street banks
      • International building societies
      • Specialist expat lenders
      • Private banks

    These connections allow us to facilitate a wide range of expat mortgage solutions. We can compare rates across the market to ensure you’re getting the best deal possible for your situation.

    How Much it Costs (Rates and Fees)

    Expat mortgage rates in the UK are generally slightly higher than standard mortgage rates due to:

      • Added complexity
      • Perceived higher risk
      • Challenges like earning income in a foreign currency
      • Language barriers
      • Unfamiliar legal and financial systems
      • Limited UK credit history

    However, specialist lenders and international building societies that cater to the expat market may offer more competitive rates.

    Finding the Best Rates

    High street banks often offer the best expat mortgage rates, but only a small number accept expat mortgages, and their lending criteria are typically the most strict.

    We do our best to fit our clients’ applications into high street lending criteria if the rate saving is significant, but if this isn’t possible a competitive solution from a building society or specialist lender is still affordable.

    Additional Costs

    Be prepared for potentially higher costs in terms of:

      • Deposit requirements
      • Broker fees (you can see our fees here)
      • Lender fees
      • Property valuation fees (often not waived for expat products as they might be for standard UK mortgages)

    How Long the Process Takes

    The expat mortgage process generally takes about the same time as a standard mortgage, ranging from 2 to 6 weeks, but sometimes slightly longer due to:

      • Need for lenders to liaise with international employers
      • Communication across different time zones
      • Additional verification steps

    A good expat mortgage broker with an understanding of the international landscape can help speed up this process.

    What Deposit You’ll Need

    You generally need a 20% deposit for a residential expat mortgage.

    Some lenders are willing to go higher than this for some applicants depending on your income and situation, while others won’t.

    For buy to let expat mortgages, you generally need a 25% deposit.

    Again, some lenders can go above this threshold in some cases, and others will cut lending off below this – it depends on the lender and your specific application.

    To understand exactly how much you can borrow, how much deposit you’ll need and how much it could cost you in terms of rates and fees, book a free call with an advisor and we can walk you through the details.

    For help with the process and to get a clear picture of your borrowing potential, speak to us today.

    How Much You Can Borrow

    You can generally borrow from 3 to 5.5 times your salary with a residential expat mortgage, provided you have the necessary deposit to facilitate the loan size.

    Note that if you’re not earning in GBP, your income will be docked roughly 15% to account for currency fluctuations.

    Use our expat mortgage calculator for a rough idea.

    Buy to let expat mortgages are based on the projected rental income of the portfolio and stress testing by the lender, so this is a separate calculation. Speak to us if you have a buy to let property in mind and want to work out whether you can afford to purchase it – or if you just want an initial idea of what you may be able to afford.

    Why Use an Expat Mortgage Broker

    Working with a specialist expat mortgage broker can significantly improve your chances of securing a loan with favorable terms and rates. Here’s why:

    1. Market Comparison: We can compare rates across the market and provide independent advice.
    2. Tailored Solutions: A good broker will clearly outline your best funding options to ensure you’re making the right decision for your situation.
    3. Potential Savings: Their expertise can often save you thousands of pounds in interest and fees, depending on your loan size and circumstances.

    Perhaps most importantly, they provide end-to-end support for your application. This includes:

      • Dealing with lenders, solicitors, surveyors, employers, and more
      • Ensuring your application gets prioritised and chased through
      • Handling all the paperwork to make the process less stressful for you

    Apply Now

    Contents