UK Banks and Building Societies Rarely Provide Expat Mortgages

Lots of our clients are shocked to learn that their existing bank or building society will not support them with a mortgage whilst living in Dubai. In many cases the applicant(s) will have lived and worked in the UK for years and/or have a long-established relationship with their bank/building society, but still they still won’t help.

Unfortunately, when many high-street lenders look at a foreign currency income they will immediately say no. This is down to a policy of not offering expat lending and so you will need to look elsewhere.

Despite this, there are lots of lenders who specialise in expat lending – the majority of which we partner with. A few years ago there was only 4-5, but many more are now offering these products, which is fantastic news for the consumer. This is because more lenders in the market equals more competition, lowering rates to levels never seen before.

With the support of a specialist expat mortgage broker such as Expat Mortgage Expert, these specialist lenders, who can be more flexible in their decision-making, will be able to offer you a very attractive rate.

Of course, you could manage this directly with the lender, but as an expat, we were highly recommend against this. Not only are you likely to encounter time difference and location issues, but a lot of these specialist lenders are smaller institutions whose products are only accessible via a mortgage broker.

Whether you’re looking to remortgage an existing UK-based property or purchase a new buy to let investment, contact us today to secure a great deal, hassle-free.