Whether you've decided to extend your buy to let portfolio, or simply looking to buy a property to let until you return to the UK, we can help you find the right mortgage.
In general most lenders will assess buy to let mortgage applications based on either rental income projections or an applicants own personal income when determining borrowing limits. A limited number of lenders will consider both rental and personal income when assessing a case.
The table below can be used to give you a good idea of the maximum Loan To Value (LTV) available if you're considering purchasing a buy to let property in the UK.
|Employment status||Max LTV|
UK Expatriate mortgages are regulated if more than 40% of the property being purchased will be occupied by the purchaser or a member of the purchaser's immediate family.
Mortgage Regulation also applies to "buy to let" property if you or your family have an intention to return to live in more than 40% of the property at some time in the future. Most other buy to let mortgages will not be regulated by the FCA.
Even when mortgages fall outside regulation parameters it is prudent to use the Annual Percentage Rate Charge (APRC) when comparing mortgage products.
The APRC is more significant than the mortgage interest rate alone as the APRC will indicate the true cost of the mortgage including start up costs and any lenders fees. For example, costs and fees may be higher for mortgages with low interest rates and no early repayment charges. Early repayment charges are often applied if you decide to switch to a different lender in the future.
Our company was established in 2002 as a specialist expat mortgage and insurance broker.
Since then we've helped 1000s of UK expats and our experience means we can quickly find the best products to suit your individual needs.
Being part of one the UKs largest network of Financial Advisors also means we have access to many exclusive mortgage rates not available anywhere else.Read More
We help both UK expatriates and foreign nationals find mortgages for UK property.
We can normally find a suitable mortgage for most individuals including contractors and self employed workers.Contact Us