Plenty of great lenders are available to work with non-UK residents and foreign nationals, whether you live in the UK.
There is a general misconception about how difficult it is for foreign nationals to get a mortgage in the UK. There is, in fact, a huge availability, great lending terms and a multitude of lenders who will offer mortgages here for non-UK residents or citizens.
Can I get a UK mortgage if I don’t have a UK bank account?
Yes, but this is where experience, expertise and market exposure matters. The UK’s big banks usually look for proven income and a reliable record with credit rating agencies – as an expat you may not have these.
Many lenders will accept foreign bank accounts and foreign currency, but you may need expert advice about foreign currency mortgages and the risks associated with investing in a foreign currency, which could you leave you vulnerable to currency fluctuations, for example.
What will I need to get a mortgage in the UK and how can I do that?
Prove your identity, place of residence, income and assets. We understand that these documents can take different forms and may need to be translated or viewed in line with local customs and laws.
Showing income is very important – the higher the better, as this is what lenders will use to assess whether the loan is affordable.
Typically, you will need to show payslips and bank statements, but this will vary from lender to lender.
Can I get a UK mortgage if I live permanently overseas?
Yes, it doesn’t affect your mortgage eligibility if you live permanently overseas or even if you never plan to return to the UK.
Can self-employed non-UK nationals get mortgages in the UK and can expat get mortgages?
If you’re self-employed, mortgage lenders will, again, need to see evidence of income.
What’s important here is that the accountant you use is an internationally recognised one – this will provide the lender with assurance regarding your income.
Working with a local accountant means that you don’t need to produce accounts.
If you are an expat employee, many big banks have expat mortgage options available now, and buy-to-let continues to be a popular choice among expat investors. But the big banks may not offer the best deal for you, and if you don’t work for a multinational company you may find your options limited