ex-pat buy-to-let mortgage advisors and mortgages

fodderstompf · 15 May 2017 at 4:31PM

Hi,

I’m looking for an ex-pat buy-to-let mortgage for a UK property. I am British but a non-uk resident.

From what I can tell there really is very little choice: Barclays, HSBC and Ipswich Building Society.

I was was wondering if anyone knew of any independent brokers who handled expat mortgages? Is there such a thing?

I found this company, has anyone dealt with them? Fee is 2.5% of mortgage.
http://www.international-mortgage-plans.com

Any help greatly appreciated.

ACG · 15 May 2017 at 5:02PM

If you are in the EU there are one or 2 more lenders I know of.

To be completely honest, if your enquiry landed on my desk I am not sure it would be one for us. I have no idea about the market. Their fee may be high, but if they get you the bst deal you may find it pays for itself. If the Mortgage is large enough, it might be worth asking if there is any room for manouvre on their fee.

fodderstompf · 15 May 2017 at 5:25PM

Thanks for the reply. No, I'm in South East Asia. But I should have mentioned its my own property and I am currently on a residential mortgage but have been told I need to move to BTL.

Lilla_D · 15 May 2017 at 10:58PM

Although I haven't done many expat mortgages either, I have dealt with cases where the clients lived outside the EU and converted their former resi home's mortgage to a BTL remotely. Last time I did this exercise was in Jan this year, so I can confirm that there are definitely more lenders than the 3 mentioned above. However, whether they are suitable, it will depend on whether you are employed or self-employed and if the latter, where the business is and who your accountants are, how much your personal and the rental income is, the property itself, etc.

fodderstompf · 16 May 2017 at 8:47AM

Hi Lilla,

Thats's great thank you. Could you give me some of the names of the other lenders if possible?

I'm self-employed in UK and also full time employed here.

When you changed the residential to BTL for your non-EU clients, was it reasonably straight forward, or is there anything myself (or agent) should look out for?

Any help greatly appreciated.

Lilla_D · 19 May 2017 at 5:00PM

Sorry, was away for a few days. I'm afraid that as a broker I'm not allowed to name lenders on the open forum here.

I would say that once the right lender is chosen, all the necessary information and documents are collected, these cases are about the same in terms of complexity / difficulty as for UK residents. Let's not forget that even if someone lives in the UK, there are many factors that can limit their lender choice, so yours is just another example where the circumstances are limiting the options. Beyond that, it's fine

ex-pat buy-to-let mortgage advisors and mortgages

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