UK Expat Mortgage
Trusted by Expats
Thank you so much to Luther and his team for getting our expat mortgage for a residential purchase in the UK.
From the very start Luther was friendly, professional and extremely uncomplicated and fast. Other companies I had contacted basically bored me with their complicated requests and problems. With Luther there was no problems and always solutions.
I would definitely use Luther again.
Ms. Hurst
Excellent service from start to finish from Luther. Quick and straightforward in arranging finance where highstreet lenders had failed.
Highly recommend, especially expatriate workers looking for mortgages in the UK.
Mr. Hawley
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! I would recommend Louis time and time again, they have made a lifelong client out of me. Thank you for being the best.
Nusrath H
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 communications throughout and guiding me through the process to a successful conclusion. His advice was honest, very accurate and timely, reducing stress and the time required to complete the transaction.
Matt H
It was the sheer professionalism which was standout from the off with this company, combined with the meticulous detail that was of paramount importance to me in regards to our financial scenario. The mortgage being dealt with was never going to be straight forward, however Luther was on hand out of hours and excelled in his communication making things much easier.
I’ve worked with many consultants over the years through many economic headwinds, this was by far up there with a service level very rarely encountered.
Christopher M
Louis and has team have been incredible throughout the whole process of securing our first mortgage. He made everything easy to understand and answered all questions promptly.
Being expats as well, my wife and I thought there would be extra complexities, but Louis ensured the whole experience went smoothly.
I would highly recommend UK Expat Mortgage
J Coates
An excellent experience with Luther. We are an expat family relocating from the US to the UK. Luther helped us through the process of finding a new home and truly helped us settle into a new country. We very much appreciate all the help and assistance. We would highly recommend Luther.
Anonymous
From the moment I reached out to Luther, Luther was incredibly responsive and professional. He took the time to understand my financial goals and provided tailored advice that was both insightful and practical.
Luther’s expertise and knowledge in the field was evident throughout the entire process, not only did he help me create a comprehensive financial plan, but he also guided me through various investment options, ensuring I made informed decisions. I truly felt like he had my best interests at heart.
Dominic W
Given our complex situation (both being self-employed), we would never have found the option we went with on our own, so the value of going with a broker like Louis was game-changing for us!
Would highly recommend.
Danielle
First time applying for a mortgage, and thanks to Luther and Megan everything was explained well, we had all our questions answered promptly, and had an offer within days. Communication and service were brilliant, friendly and professional, thank you so much!
Emily R
Book a Free Consultation
If you’ve struggled to get a mortgage or agreement in principle from your bank, or even through another mortgage broker, don’t hesitate to get in touch.
Book a free, no-obligation call with our experts to see if you’re eligible for a UK mortgage and how we can help.
Client Stories
How We Work
Free Quote
Tell us a few details and we’ll confirm whether you’ll be eligible, how much you could borrow, what the best rate would look like, and what our fees would be for helping you. Free of charge, and no obligation to proceed.
Agreement In Principle
We’ll talk you through your best mortgage option(s) and clearly explain any finer details you may need to consider. If and when you’re ready to proceed, we’ll arrange your Agreement in Principle with the lender to solidify your buying position.
Application
When your offer is accepted, we’ll submit your full mortgage application. We keep it as simple and stress-free for you as we possibly can, and will keep you updated every step of the way. This is when we charge the first portion of our fee (usually £495), with the remainder due upon completion.
Completion
Throughout your purchase, we’ll monitor rate changes in the market in case any better products become available during your transaction. If any speed bumps arise during your property purchase we’re here to help – we’re responsive, proactive, and there’s little we haven’t seen before.
Why Us
Access to the 25+ specialist expat lenders to find the best rates and terms for you.
We can even secure UK products for expats in some cases, which can equate to huge savings.
End-to-end application support, handling all paperwork and communications.
Streamlined process that reduces delays and uncertainty.
We can work to your time zone for telephone and video calls.
Familiar with complex income situations (self-employed, contractors, multiple currency earnings etc.).
Expertise in dealing with international employers and foreign employment contracts.
Private lending options available for high-value cases.
Our Advisers
Luther Yeates CeMAP
Head of Mortgages
Luther is the founder of UK Expat Mortgage and our parent company, Orton Financial.
After working in the industry for a number of years he decided to create his own company, the principle values being focused around fair and honest financial advice.
“Arranging a mortgage isn’t about selling a product. If you provide the best advice, the advice sells itself”.
With significant advisory experience in the expat lending market, Luther has an exceptional awareness of the challenges faced by expatriate borrowers buying property in the UK.
Louis Levine CeMAP
Senior Mortgage Broker
Louis is a Senior Mortgage Broker at UK Expat Mortgage, advising expats on securing cost-effective mortgages for UK property.
He also works with foreign nationals investing in the British property market, and individuals earning in foreign / multiple currencies.
He has strong relationships with BDMs and senior underwriters at the international building societies that lead the expat lending market.
Who We Can Help
We can help expats living in the below countries buy property in the UK:
Expat Mortgage Calculator
Find out How Much You Could Borrow
Complete Guide to Expat Mortgages
The expat mortgage process varies depending on your circumstances. We recommend skipping to the section that’s most relevant to you:
- I’m an expat returning to the UK and purchasing a new home >
- I’m an expat purchasing (or remortgaging) a Buy to Let property in the UK >
- I’m an expat purchasing or remortgaging a residential home in the UK, but staying abroad >
1. If You’re Returning to the UK
When returning to the UK after living abroad, you’ll generally have two main paths to explore:
- Standard UK mortgage
- 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 HSBC, 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:
- Register to Vote: Use a family member’s address (with their permission) to quickly start building credit.
- 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.
- 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.
2. 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. If you’ve only recently moved abroad and are remortgaging an existing buy-to-let, or are now renting out your UK home, it’s unlikely that your existing lender will offer you the best terms when remortgaging from overseas, or even accept you at all.
This means you’ll almost definitely need to shop around.
But the good news is that there are many specialised lenders that offer BTL mortgages specifically for expats.
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 (meaning you can add some of your personal income to meet affordability if the rental income is low)
- Borrowing up to 80% loan-to-value (varies by lender and circumstances)
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
It’s also worth considering 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 (usually easily covered by the rental income), hopefully taking profits from the increase in property value over time.
3. 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. If you go to remortgage your home with your current bank, for example, you almost definitely won’t be offered the best rates, or even be accepted at all.
This is because most of these banks aren’t set up for expat mortgages – they lack specialist underwriters and focus on generic UK mortgages (it simply fits their business model better).
Remember: A mortgage advisor from a high street bank can only advise on it’s own products. If they can’t offer an expat mortgage, they might tell you it’s not possible entirely, 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, and 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 15% 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 20% 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:
- Market Comparison: We can compare rates across the market and provide independent advice.
- Tailored Solutions: A good broker will clearly outline your best funding options to ensure you’re making the right decision for your situation.
- Potential Savings: Our expertise can often save you thousands of pounds in interest and fees, depending on your loan size and circumstances.
Perhaps most importantly, we 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
FAQs
Can I get a mortgage as an expat?
Yes, you can get a mortgage as an expat. There are specialised expat mortgage products available for British expats living abroad who want to buy property in the UK, whether for residential purposes or as buy-to-let investments. Even without a UK credit history, many specialist lenders are willing to provide mortgages to expats.
Which UK Banks offer expat mortgages in the UK?
High street banks like HSBC, Santander and NatWest offer international mortgage products for expats, though their criteria are typically stricter.
There are also specialised expat lenders, international building societies, and private banks that cater to the expat market. You can see a comprehensive list here. As a whole-of-market broker, UK Expat Mortgage has access to 25+ specialist expat lenders.
How much deposit is required for a UK expat mortgage?
Generally, you’ll need a 15% deposit for a residential expat mortgage and a 20% deposit for a buy-to-let expat mortgage. Requirements do vary based on your individual circumstances and the specific lender.
Are expat mortgages more expensive?
Yes, expat mortgages are typically 0.75-1% higher in interest rates compared to standard UK mortgages. They also generally have less competitive terms regarding perks like free valuations and may have higher lender fees. In some cases, we are able to fit expats into the criteria of a UK product, equating to huge savings, but it is not always possible.