We’ve been supporting UK nationals living and working abroad with mortgages for over 10 years, and to further enhance our proposition, we’ve added new 85% LTV products to our Expat Residential range for those looking to purchase or remortgage a main residence here in the UK.

Here are some examples of how we’ve helped your clients by widening our range…

Client: Brian (38) Income: 144,000 Canadian Dollars

Brian currently lives and works as an accountant in Canada. He’s divorced and has a child in the UK. He’s been out of the UK for five years but would like to purchase a property so he has a main residence when visiting his son back home. Brian would like to purchase a property valued at £200,000 at 85% LTV.

How we could help:

  • Brian lives in one of our acceptable countries and is paid in an acceptable currency.
  • There is no requirement for the property to be permanently occupied – subject to sufficient buildings insurance in place.
  • There is no restriction on how long the applicant has been out of the UK.
  • After reviewing our income multiples of 4.5x and using our new affordability calculator, we were able to lend Brian £170,000 (85% LTV) over 25 years on a repayment basis in order to support him with his purchase.

Clients: Chris (43) & Julie (40) Income: 210,000 Singapore Dollars & £24,000

Chris and Julie are married and both work as teachers. Chris moved to Singapore 12 months ago to work whilst Julie remained in the UK with their two children. Their main residence is currently mortgaged and they would like to take out some additional borrowing to make improvements to the property. They’d like to borrow up to 85% LTV. As Chris is paid in a foreign currency, their existing lender couldn’t help them.

How we could help:

  • Chris lives in one of our acceptable countries and is paid in an acceptable currency.
  • Based on our haircut when assessing foreign currency, we were able to use approximately £97,000 of Chris’s income and all of Julie’s income.
  • Additional borrowing for home improvements is acceptable up to 85% LTV.
  • Multiple currencies on applications accepted.

Our top tips for placing Expat Residential business with us

  • Remember to check our acceptable countries and currencies list.
  • One applicant must be a UK national. We’ll consider joint applications if the second applicant has permanent right to reside in the UK.
  • Our minimum income requirement is £37,500.
  • We’ll consider interest only up to 50% LTV.

Got a case in mind?

We’re here to answer any questions you may have, or if you’ve got a case in mind, we’re happy to discuss it with you, just get in touch.