Expat mortgages.

We’re experts in expat

Here’s what you need to know.

We lend to expats borrowing for residential, buy to let and holiday let purposes. And we consider most countries of residence (except those UN Sanctioned). Here’s why you should choose us for your expat cases:

  1. For joint applications we can consider when only one applicant holds a British Passport (subject to British national meeting our criteria and affordability).
  2. Deposits built up in the country of residence are accepted and only need to be back in the UK in time for completion
  3. For buy to let and holiday let most currencies are accepted.
  4. For residential and regulated buy to let we accept 11 currencies.
  5. Can consider up to 5.49x income if one applicant earns £100,000+ (after haircut, unless paid sterling)

An introduction to expat lending from Ian Stockley, BDM.

FAQs

Your questions answered.

For buy to let and holiday let most currencies are accepted. For residential and regulated buy to let we accept: Sterling, Euro, Swiss Franc, Norwegian Krone, US Dollar, Canadian Dollar, Singapore Dollar, Hong Kong Dollar, UAE Dirham, Kuwaiti Dinar, Qatari Riyal, Saudi Riyal, Australian Dollar, New Zealand Dollar, Swedish Krona and Danish Krona.

Applicants must be employed or in receipt of retirement income, with at least one applicant earning a minimum of £40,000 or equivalent. When assessing affordability we can consider employment, pension, UK property and investment income.

We convert foreign income to sterling, then take a 20% haircut before entering into the affordability calculator.

Note: the affordability calculator will deduct Tax & NI.

Yes, we will consider expat buy to let and holiday let applications from a first time buyer.

Buy to let is calculated at 145% x payrate + 2% or 5.5% (whichever is greater) or 145% x payrate for a 5 year fixed (subject to availability).

Holiday let is the average of low, medium and high weekly yield x 30 weeks divided by 12, and then a normal rental calculation of 145% x payrate + 2% or 5.5% (whichever is greater) or 145% x payrate for a 5 year fixed (subject to availability).

Click here to use our rental cover calculator.

We assess applicants who are returning to the UK on a standard residential basis, which includes retired applicants. For employed applicants we would need to see evidence that the job is in place, and this would need to be in a similar role

Yes. Please refer to our expat ID and V requirements.

We require employed applicants to be earning the equivalent of at least £40,000 and employed by a “reputable” company, meaning we will consider domestic employers. This could include schools, infrastructure, health care, sports and more.

Quite simply – yes!

No, we are unable to mix currencies within an application. Only one currency can be used in the affordability assessment and to meet our minimum income requirement.

We can consider joint applications which include a non-UK national, as long as one applicant holds a full British Passport. The British national will need to meet our criteria and affordability assessment on their sole income. (If you have a non-UK national living in the UK, please contact us directly to discuss this further.)

Yes, our holiday let mortgages allow personal use for up to 60 days per year.

Yes, they can use Airbnb, Vrbo or similar lettings portals and / or an ARLA registered letting agent.

Useful resources

Helpful information.

Expat ID&V requirement

Download

Expat deposit declaration

Download

Packaging requirements

Download

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