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:
- For joint applications we can consider when only one applicant holds a British Passport (subject to British national meeting our criteria and affordability).
- Deposits built up in the country of residence are accepted and only need to be back in the UK in time for completion
- For buy to let and holiday let most currencies are accepted.
- For residential and regulated buy to let we accept 11 currencies.
- Can consider up to 5.5x 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.
We’re here to make it simple, so here’s a list of our most commonly asked questions.
If you can’t find what you’re looking for, or you’d like to chat through your case, we’re only a phone call away. Find your BDM or contact our helpdesk. If you’re ready to submit a case enquiry click here for our mortgage enquiry form.
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 and Qatari Riyal.
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).
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.
Let us make it easy for you. We’ve put together some of the useful documents for you below, but if you can’t find what you need, or you’d prefer to talk, just give us a call on 0330 123 1073 (option 1).
From our blog
Latest expat news.
Here you can find our latest blogs covering expat lending.
Our regular emails include our latest news, so if you don’t already receive our updates get in touch and sign up. You can also follow us on Twitter and LinkedIn.
Expat holiday let – available by popular demand!
Expat case study
Residential rates are coming down
We’ve dropped rates on holiday let and expat BTL
January improvements: Week three – Expat criteria
New Year: new lending criteria
