Expats buy to rent mortgages

Dinkypooh

My partners daughters is currently living in South Africa and would like to get on the home owners ladder. So she is looking to buy a flat and rent it out in the uk, how does she go about getting a buy to let mortgage?

elsien

Starting point.

http://www.thisismoney.co.uk/money/buytolet/article-4745780/How-buy-let-mortgage-UK-expat.html

ACG

This seems to be a growing market. I have had 3 lenders email about expat BTLs in the last month or so.

There are a few rules about taxes, employer and countries that need to be researched. But a broker should be able to help.

buggy_boy

Also it might be worth buying in a ltd company but you would need to really look into it to see if it is worth it for your circumstances.

Hillwalker11

My son is an expat living in Shanghai. He bought a BTL property about 18months ago. It us not the easiest process but is doable. He used a broker John Charcoal who specialise in ex pat mortgages. His mortgage is through Skipton Building Society. He had to have an English bank account and be prepared to pay hefty set up fees to both broker and Building Society. Also the paper trail regarding how the deposit was raised is checked in more detail due to money laundering regulations. The minimum deposit is 25%. However once all the criteria was met the actual process was reasonably straightforward. For ease of signatures etc. My husband has POA which helps to speed things up.