Expat Mortgages
Looking for an expat mortgage?
If you’re looking for an expat mortgage, the Fidelius Mortgages team are on hand for every step of your journey. Our expat mortgage broker services take away the strain and worry that can come with buying, or raising finance, from a property – we are here to help you!
Whether you’re an expat looking to get a residential or buy-to-let mortgage, or need some advice on your next steps, our experts are happy to be at your service.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Residential Mortgage
You may be looking for a residential mortgage if you’re planning on moving back to the UK and want a property to live in when you do. Alternatively, you may be overseas but want to purchase a house for your UK based family and yourself when you return. If this sounds like you, get in touch today.
Buy-to-Let Mortgage
If a residential mortgage isn’t the right fit for you, then you may want to consider a buy-to-let mortgage. A buy-to-let mortgage is ideal for expats who want to re-mortgage a residential property on a buy-to-let basis if you’re about to move overseas, you’re situated overseas but want to raise money by re-mortgaging, or you are looking to buy for investment purposes. This can be for capital appreciation, rental yield or both.
Process of buying a residential property as an expat
1. Speak with our advisers
Get in touch with our friendly mortgage team to find out how we can help you. We will be able to assist in answering any of your queries and discuss your options and next steps. Whatever the question, we’re here for you!
2. Get an agreement in principle
Our advisers will then apply for your Agreement in Principle (AIP). This is an indication that the lender will let you borrow the specified amount on the condition that all submitted information is correct and nothing changes after the initial application. Once you have this, the property hunting begins and you can put an offer on a property you wish to purchase or proceed with re-mortgaging.
3. Assign us as your mortgage brokers & choose a conveyancer
Once your offer has been accepted, we will support you with your mortgage application and liaise with both the lender and you. This is where our great relationship with lenders comes in handy. The lender will now assess your application and may choose to do a valuation of your property to ensure they are lending the correct amount against it.
4. Receive your mortgage offer
If your lender is happy with everything, they will send both us and youan approved mortgage offer. Your chosen conveyancer will now complete any of the required legal work. You will also want to speak with us at this stage about protection planning, and buildings and contents insurance. This is so that it is all in place at the point of exchange.
5. Exchange and completion
If you’re re-mortgaging, your conveyancer will confirm a date when the funds will be drawn. If you’re purchasing a property, when contracts have been exchanged, you are then legally tied into the purchase of the property. A date will be agreed for you to complete and collect the keys – a congratulations is also in order!
Why Fidelius Mortgages?
Fidelius Mortgages are an independent, experienced, yet forward thinking Financial Services company, committed to providing the very best advice through our top-quality team.
With a combined experience of nearly 2 decades, our expert mortgage team average over 300 mortgages per year for expatriate clients and create bespoke insurance solutions. We’ve always specialised in expat mortgages.
Being independent allows us to source the best lender options, and we also have professional connections with partner solicitors who are experienced in assisting expats buying property in the UK.
Fidelius believe in establishing a lifelong commitment to our customers with a service that is cost effective, valuable, and able to deliver total peace of mind. From our support teams, right up to management, we pride ourselves on having the correct work ethos and culture needed to provide excellent customer experience.
Meet our Team
Amy Bowler
Mortgage Administrator
Nicholas Okojie
Mortgage Adviser
Keegan Grippo
Senior Independent Mortgage Advisor
Updesh Bhogal
Trainee Mortgage Advisor
Mike Cavin
Head of Mortgages
If you'd like to keep up to date with our mortgage services, team insights and general industry news, follow our dedicated LinkedIn mortgage page.
FAQs
Can I get a mortgage as an expat?
Expats can apply for a mortgage in the UK and Fidelius Mortgages are used to providing effective solutions on a regular basis for expats living all over the globe.
How much deposit do you need for an expat mortgage?
A UK expat or non-UK client buying in the UK may have to have a deposit of up to 25% (or more depending upon personal circumstances).
There is a chance you can get a mortgage for a residential property with just 10% - however most lenders offer maximum lending of 80% loan to value, so a suggested starting deposit of 20% would give you more options.
Is it easy to get a mortgage in the UK?
Expatriates looking to buy a residential property are usually considered good risks by mortgage lenders, so some conditions may apply.
It can be difficult to apply for a mortgage in the UK as a self-employed expatriate, however if you have audited accounts to prove your income, it should be straight forward.
Choosing the right mortgage is essential and is not always as straight forward as it may first seem. We can help you choose the right solution for you by understanding your circumstances and finding the most appropriate solution for your needs.
Can an expat get a buy-to-let mortgage?
Expats can choose between a buy-to-let or residential mortgage. Find out more here.
How long does an expat mortgage application take?
While dependent on your circumstances and which lender you go with, in most cases the process can take up to 10-12 weeks to be signed off. However, each application is treated uniquely, with your expat mortgage broker able to advise process times during your application.
Do Fidelius Mortgages provide ancillary products?
Other than aiding with mortgages and acquiring insurance and protection planning, we can also help clients source solicitors.
Are the Best Expat Mortgage Rates Much Higher than Standard Rates?
Compared to typical mortgage rates, expat mortgage rates do tend to be slightly higher due to the increased risk lenders face with borrowers living abroad.
What costs are associated with an expat property purchase and mortgage?
There are both additional upfront and ongoing costs to consider when acquiring a mortgage, as well as any personal protection products. Solicitor’s fees, valuation and land registry fees are all examples of upfront costs. But there are also ongoing costs to consider, such as bills, leaseholder, and mortgage payments.
What are the minimum and maximum age thresholds for acquiring a mortgage?
The minimum age for acquiring a mortgage is 18 years of age, with the maximum solely dependent on the personal circumstances of the client. Most lenders go up to 75 years of age but have occasionally gone above this. We advise discussing your situation with one of our mortgage brokers for a more definitive answer.
How can I book a meeting with Fidelius Mortgages?
We can arrange a meeting via telephone or video call. If you’re local, we can even arrange a face to face meeting.
How long does the expat mortgage application take?
This depends entirely on personal circumstances and which lender you choose, as each application is treated uniquely. In most cases, the process could take up to 10-12 weeks to be signed off.
What costs should you consider when buying an expat property?
Buying a property overseas and securing an expat mortgage can be a daunting process. With many things to consider, including expat mortgage rates, conveyancing costs and the costs of running a home.
Benefits of using an expat mortgage broker
If you’re an expat looking to purchase or remortgage a property in the UK, you may be wondering whether to use an expat mortgage broker to secure your expat mortgage, or go directly to the lenders.
The ultimate guide to getting a mortgage as an expat returning to the UK
Are you an expat looking at buying property in the UK? We’ve put together this handy guide to provide you with everything you need to know about getting an expat mortgage as a returning expat...
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