UK Expat Mortgage Broker
Welcome to Fox Davidson. We are a UK-based expat mortgage broker. We specialise in helping British expats based around the globe to secure mortgages on UK property.
Fox Davidson work with lenders across the market including high street and private banks, building societies and specialist broker-only lenders. We deal with the banks here in the UK and liaise with clients by phone, email and webchat meaning you do not have to return to the UK to arrange your mortgage.
As a UK expat mortgage broker, we can secure funding for most situations including main residence and buy-to-let mortgages.
What is an Expat Mortgage?
An expat mortgage is a mortgage on a UK property for a British national living and working abroad.
Expat mortgages are offered by a handful of banks and building societies, each with its own intricate criteria. Navigating the market for an expat mortgage directly with a lender can be difficult.
Working with a UK expat mortgage broker will save you considerable time and help you to secure the most competitive terms from across the UK mortgage market.
How to secure an expat mortgage.
Expat mortgages are offered by a restricted number of UK lenders due to the extra layer of underwriting and due diligence an expat mortgage requires.
Fox Davidson handles the whole process for our clients. From initial enquiry through to the drawdown of funds, we will liaise with the lender, surveyor, and solicitors on your behalf. Our clients benefit from a dedicated broker, paraplanner and case manager.
To get started please complete our enquiry form or email us directly enquiry@foxdavidson.co.uk and we will agree a convenient time with you to speak by phone, email or webchat.
Do you need an expat mortgage broker?
To secure an expat mortgage one does not need to use an expat mortgage broker. However, the process of securing a mortgage is more time-consuming, the number of lenders who will lend is less and of those that will lend they all have varying criteria. Using a mortgage broker ensures your application goes to the right mortgage lender the first time.
Types of Expat Mortgages UK
There are several types of expat mortgages including Main residence mortgage, buy-to-let mortgage and mortgage for dependant relatives/family. Whatever your intended use is for the property in the UK we should be able to find a solution that works for you.
Expat mortgage criteria
Lenders can typically lend to 90% loan to value on ain residence and 75% on buy to let.
A mortgage can be arranged on a repayment or an interest-only basis.
Expats should be employed as we are unable to help clients that are self-employed.
We are unable to help expats based in FATF high-risk countries. This is an evolving list so please do contact us if you are unsure.
Expat mortgage on main residence in the UK.
Whilst living abroad you may require a mortgage on a UK property for you to return to when visiting the UK. You may have family that remain in the UK and therefore wish to mortgage a property for your family to live in whilst you are living and working abroad. Main residence mortgages for expats are offered by some of the mainstream lenders and as such can offer very competitive rates of interest.
Buy to let Expat mortgages.
Buy-to-let expat mortgages are available to expats wishing to remortgage or purchase a property as an investment. Expat buy-to-let mortgages are available on residential and commercial property. Lending is possible in personal or in a Ltd company name.
Can you get a mortgage as an expat?
It is possible to secure a mortgage on a UK property as an expat. Many of the UK mortgage lenders offer mortgage solutions for British expats.
Which UK banks offer mortgages to expats?
High street banks and private banks offer mortgages to expats. UK banks all have different lending criteria, so it is important to find the right lender for your situation.
How much deposit do I need for an expat mortgage?
The deposit required for an expat mortgage is typically 10% for a main residence mortgage and 25% for a buy-to-let expat mortgage.
Can I get a mortgage in the UK if I don’t live there?
It is possible to secure a mortgage in the UK even if you do not live there. Mortgages for people living outside of the UK are called expat mortgages.
I work for the armed forces and have a BFPO address, do I need an expat mortgage?
Military personnel with a BFPO address are not classed as expats and can secure mortgages in the normal way as if they were living and working in the UK.
What is the best type of mortgage for expats?
The best type of mortgage for an expat is one that meets your mortgage requirements and that has the most competitive lending terms for your situation.
Can British expats still buy property in the UK?
British expats can still buy property in the UK so long as they meet the mortgage lenders’ lending criteria.
How long does an expat mortgage take to arrange?
An expat mortgage typically takes around 4 weeks to arrange. The application process is slightly longer due to the extra due diligence a mortgage lender must apply to applicants living outside of the UK.
What are the best expat mortgages UK?
The best expat mortgages in the UK are those offered by high-street banks and building societies which often have the best expat mortgage rates on the market.
Are expat mortgage rates competitive?
Expat mortgage rates can be as competitive as mortgages offered to UK resident applicants. An expat should be prepared to pay a little more as the number of lenders offering expat mortgages is reduced compared to the number of lenders who will lend to UK resident applicants.
Do I need a good UK credit history to get a UK expat mortgage?
It is beneficial to have a good UK credit history as most lenders will still carry out a UK credit search. However, some lenders do not lend based on credit score and will judge each case by its own merits.
