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Expatriate mortgages for a new house purchase.
If you wish to buy a house in the UK and use it as your
primary residence, some lenders will consider advancing up to
95% of the purchase price.
Lending criteria and mortgage terms
vary tremendously and different lenders will use their own
policy to determine a maximum loan figure.
In addition to the offshore lenders, a number of UK based banks
and building societies will now consider applications from British expatriates
planning to purchase
a home in the UK.
Expatriate lenders will use income multiples, affordability
and employment status before offering mortgage terms. Some
lenders have strict policies and rigid lending criteria whereas others are more
flexible and consider individual circumstances before issuing a mortgage
offer.
Expat mortgages - our experience counts.
We've been
sourcing expat mortgages for a long time,
and we know exactly which lenders will consider your application
from the outset.
We can save you considerable time and expense when applying for a mortgage
and we'll use our experience to ensure your application is successful
first time
Unfortunately some lenders who initially accept applications from
expats decline them later during the underwriting
stage when strict lending criteria cannot be fully met.
Generally speaking, the following table should give you a good
idea of the maximum Loan To Value (LTV) available if you're considering
buying in the UK.
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Employment
status |
Max LTV |
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Employed |
75% |
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Employed with Multi-National Company |
75% |
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Employed and returning to the UK |
95% |
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Expat mortgages and UK mortgage regulation
Since October 2004, the selling
of UK mortgages has been overseen by the Financial Services Authority (FSA).
For regulated mortgages you should now be able to find clear comparable
information about the service you receive and the mortgage itself. This also
means that when you ask us to give you mortgage advice you can be assured that
we'll offer you a mortgage that best fits your needs.
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