expat buy to let mortgage?

vanmann

I am enquiring on behalf of my son who is a UK citizen but has been living overseas for last 10 years. He is now thinking of moving back to UK in next 2-3 years.
My question is, what are the chances of him getting a buy to let mortgage whilst abroad to provide a home when they move back to UK.
He would be looking to spend £220-300k on property and would have approximately £70-90k as deposit.
Also if it was possible to purchase a property what would the position be re: stamp duty being buy to let but a first time buyer
Thanks in advance for any help or info.

YHM

Absolutely possible, but expat BTL is quite specialist, so would recommend contracting a broker to find the most appropriate lender for your son.

sal_III

I don't think it's the smartest move. He has no guarantee that the tenant will leave when he is due to return to the UK. His requirements for a home might change in the next 2-3 years (new partner, kid, pet etc.) and no longer fit the BTL property. Last but not least the market is cooling down and property price raises are likely to be low or stagnant in the next several years, not to mention the slight chance of collapse.

There are better short term (2-3) investments than BTL in the UK.

vanmann

Thanks for your thoughts, will try to speak to broker

haras_nosirrah

I did two expat buy to lets last month. There are lenders available but it will depend a little bit on where he lives. These were clients in Singapore and we managed to get them placed but not all lenders will lend on all countries so definately one for a broker

vanmann

currently living in Austria