Expat Residential Mortgage UK

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1
I would like to purchase a property in the U.K. are there any lenders that do a 2 or 5-year fixed capital/interest repayment? Or any recommendations?

2
I remortgaged one of my UK properties with HSBC Expat. They're very good, and understand the needs of expats. I would recommend.

3
Are you buying to let (in the short term)?

If so, you need a very specialist Broker. There are not many lenders willing to accept an expat BTL mortgage.

Good news is they are usualy fixed rate for 5 years. Bad news is the rates are at least a 1% loading on the interest rate for a UK full time resident.

I have used property-master.com for a number of years and can highly recommend them. You can do a full market search for quotes online and then talk to a proper human later.

Kind regards

Ian

4
Beware of stamp duty. For non-residents it's 2% above the rate for residents- on all bands.

5
I have a buy to let on my UK house through TSB.

6

Yes, I forgot to mention that. Another nice sting in the tail.

Oh, and if you ARE doing a BTL, you will find it very difficult (read impossible) if you plan o rent it to a connected person (parent, child, sibling). This is specifically prohibited in virtually all UK BTL mortgage deeds.

Kind regards

Ian

7
Thanks for the advice..... I intend for it to be a residential mortgage as opposed to BTL / fixed interest rate.

8
Then in theory it should be easier. But UK banks still don't much like lending to people with only foreign income.

First port of call should be your own UK bank, as they will have the clearest real view of your finances.

If not, as others have mentioned HSBC claims to offer specialist lending to expats.

Or there's a broker like John Charcol. Never used them, but they have been around for donkeys years so must be doing something right.

Finally, a quick google shows that Building Societies like Skipton, Family and Suffolk (all actually ex clients of mine!) also claim to offer expat mortgages for UK properties.

When you apply, be prepared to jump through lots of hoops, provide tons of paperwork, and still get let down at the last minute. Good luck!

Kind regards

Ian