Ex pat mortgage

Mchad2

Hello

I am based in the middle east, do NOT get paid into my british bank account however i have a British passport. Does anybody know if i have any chance at all of getting a Uk mortgage to buy property?

Any advice is greatly appreciated.

MC

sammyjammy

In the Middle East? No.

Mchad2

To buy property in the Uk?

csgohan4

Sure you can, if you pay it all in cash

Hillwalker11

I may be able to offer some advice as my son has just done this. He works in Asia, his salary is paid into a Chinese bank account but he still holds a UK bank account.
You are unlikely to get a residential mortgage unless you can prove you will be moving back to the UK in the next 12 months. You will not be able to get a residential mortgage and then be allowed to rent it out.
My son got a BTL mortgage. He used John Charcoal as a broker as they specialise in ex pat mortgages. His mortgage is with Skipton Building Society who are based in Guernsey.
Expect to pay a higher rate and you have to jump through lots of hoops to comply. However I am pretty sure you will have to have an English bank account as they will not deal with 'unusual' currencies .
We also set up my husband as POA as this made communication easier, especially with an 8 hour time difference.
Not the easiest thing to do but it is achievable.
Good luck.

Penguin2017

You can get a mortgage from the Barclays International division but you will have to pay up to 25% of the downpayment, and your interest rate is around 3.5%. i assume other international banks as HSBC will also offer this. Its not really hard in terms of process though 25% & 3.5% or so may not be easy for most.

Hillwalker11

Believe it or not HSBC wouldn't touch my son, really encouraging as the name of the bank is where my son lives! Barclays International wouldn't either or Natwest. Natwest have stopped doing ex-pat mortgages completely. What they offer on websites etc, once you talk to them the reality is very different, unless you are a very, very high earner looking at mortgages in the million + market.
As he bought a BTL he had to put down the full 25%, this was the absolute minimum and the broker fee was expensive and the BS charged a pretty hefty fee too.