The EXPAT mortgage market for UK residents looking to buy or refinance a London home is strong. There is also a healthy mortgage market for overseas buyers looking to invest in UK property from overseas.
Especially for the London property market.
UK banks recognize that increasingly people are working overseas, wherever that might be. Especially recognized are Dubai, UAE, Singapore, Hong Kong.
But that is just the start.
In the last few months we have organized mortgage finance for clients working in as countries as diverse as Bangladesh and Iraq.
It helps enormously if you work for a multi-national company – or one with main offices in the UK. But again, if you don’t the list doesn’t stop here.
What is true is that the banks will make it hard work (mind you, that’s one of their favourite pastimes).
So, before you embark on this journey we’d suggest getting an Agreement in Principle. This could save a lot of time and effort later on. It’s basically an agreement from the bank that they like the overall look of you, your credit history (whatever they can find) your employment status, income. They should give an indication of terms that they are prepared to offer you at this stage.
By the way, if you are still in London and planning on going overseas, please get in contact before you go – you will probably have many more options around mortgages before you get on that plane.
We can’t promise that it will be plane sailing finding an expat mortgage (it will be a paperwork mission) but we can give you a clear indication upfront of what your options are.
