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Buy-to-let mortgage for UK expat
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Qatcat
Posted: 11 May 2012 09:17:31(UTC)
#1

Joined: 26/04/2011(UTC)
Posts: 14
We were forced abroad due to job redundancy. After two years away we are now considering selling our family home in the UK, for buy-to-let property which makes more sense (in terms of rental, management etc). Our current mortgage lender (Halifax) has advised we have to close our existing mortgage. But getting another mortgage (buy-to-let as an expat) is not that straight forward. Anyone got any advice or recommendation on mortgages/IFAs etc? Thanks
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Jason Coupe
Posted: 11 May 2012 15:59:13(UTC)
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Joined: 16/10/2008(UTC)
Posts: 4

Was thanked: 1 time(s) in 1 post(s)
I had a similar chat with some of the expats at work. It seems near impossible to get.
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1 user thanked Jason Coupe for this post.
Qatcat on 11/05/2012(UTC)
Jerry Jones
Posted: 11 May 2012 16:22:10(UTC)
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Joined: 12/08/2010(UTC)
Posts: 22

Was thanked: 3 time(s) in 2 post(s)
There are lenders who offer this. You need to speak to a specialist buy-to-let mortgage broker. Names that come to my mind are Paul Unsworth at Lycia, Lisa Orme at Keys and Mortgages For Business. You could also try asking on Property Tribes, which is where most of the knowledgeable types hang out.
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2 users thanked Jerry Jones for this post.
Qatcat on 11/05/2012(UTC), espinasseur on 12/05/2012(UTC)
Dave Duffy
Posted: 13 May 2012 05:30:10(UTC)
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Joined: 14/05/2011(UTC)
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Qatcat

If you want to try directly with a bank for a BTL mortgage within the UK it may be worth trying Ulster Bank. I was told by another Expat about them 6 months ago and they were reported to be quite helpful but take your time and get a few quotes as some of the BTL mortgages have rather high fees.
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Qatcat on 13/05/2012(UTC)
Amelia Brown
Posted: 18 December 2012 05:15:45(UTC)
#5

Joined: 14/12/2012(UTC)
Posts: 12
With the recent rise in UK property prices, many overseas investors feel there has never been a better time to invest in the UK property market. Buy to Let mortgages are specifically designed for those investors who seek to invest in the real estate London market and rent properties out to tenants.

Typical Rates, subject to status and lending amount, can be between 1.5% - 3% above UK base rate with loan to values up to 75% and interest-only terms over 25 years.

Special schemes and discount offers are provided by many good firms of London such as Savills, Foxtons, Plazaestates, Zoopla and many more to expatriate buyers, UK residents and foreign nationals, to purchase residential as well as commercial property.
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