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Expatriates buying in the UK

Buying property in the UK

As an expatriate working abroad you may want to purchase property in the UK.

There are many reasons why you may want to buy.

You could be returning to the UK after working abroad
This property may be bought as a family home for immediate use by your family. Or you may want to let this property out until you return to the UK at some point in the future.

You may want to buy one or several properties to let. You could build up a portfolio of properties with the rental income covering the mortgage premiums.

The type of mortgage offered will depend upon your use of the property.

As a guide, you are likely to need a minimum 25% deposit.

If you are buying the property as a family home, your income will need to cover the borrowing. As a guide, with most lenders, you can borrow about 4x's your gross income. With a ceiling at about 5x's your income.

The maximum borrowing may be affected by other mortgages or borrowing you may have.
Even if any existing mortgages are buy to let.

Foreign countries may have low or no income tax to pay, unfortunately this fact will not help your mortgage application

To establish your borrowing capacity, please complete Your enquiry

Buy to let mortgage applications may be assessed differently and some lenders will just require that the rent covers the mortgage payments by (typically) 125%. You would need to assess the market rental potential of any property you were considering - see buy to let

Mortgage Advice for Expatriates

you will need a minimum 25% deposityou may be able to borrow up to 5x's your income -  as a maximum

You will have to prove your income.

If your income is difficult to prove then you may have to make other plans

You must be employed at the time of application. At the very minimum, you must have a job offer with a start date in the very near future.

Mortgage lenders will want to see proof of your income.

If you have recently returned to the UK or intend to return shortly, register your UK address with your bank and credit card companies. This will help your mortgage application by improving your credit visibility.

You will have to prove your identity and address with all lenders

Not all situations are acceptable; contact us at an early stage to discuss your situation

Do NOT enter any contractual agreement or pay a deposit until you have a mortgage offer