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Specialist mortgage advice – UK mortgages for international clients

 

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We will compare mortgages products from our panel of over 50+ lenders that consider mortgages for international clients including EX-PATS, Foreign/ overseas residents and/ or clients living in the UK with Tiered working visa’s.

Rhodes Advisory provide specialist International mortgages advice – Ideal for mortgages for overseas residents and international clients.

We are here to provide you with the most appropriate advice and relevant solution for your mortgage needs. We will compare rates from our panel of over 50+ Lenders to get the most suitable deal for you. As we are an authorised representative of Openwork, some of the rates we get from the Lenders are exclusive to us.

You want mortgage advisors that can help you save time and money. Supporting you every step of the way we’ll provide qualified and specialist advice that’s tailored to you.

Mortgages for international clients

We have the expertise to find mortgages for international clients, subject to lender policies. There are a reduced number of lenders offering mortgages for international clients and we have experience to guide you through the process.

Whether you are purchasing a property for you or your family to live in (Residential) or as an investment (Buy To Let (BTL)) please contact us and see how we can help you.

Note that lenders criteria, policies and rates are updated regularly and so the list of eligible countries and currencies considered may change at any time. As such, it is not always possible to maintain an up to date list of eligible countries, currencies and criteria. The information herein should be viewed as an indication and we ask you to speak with us directly to confirm the latest criteria and eligibility. Mortgage borrowing is only confirmed in the lenders formal mortgage offer document.

Ex-PAT mortgages

The increasing numbers of expatriates has led to a number of lenders adapting their lending propositions to accommodate their mortgage offerings. Lenders specialising in this area can consider Ex-PAT property purchases as either yours or a family members residence in the UK e.g. for when you come back to the UK or as an investment property in the UK. It is also possible to utilise foreign income, assets and savings, subject to lenders criteria, to help gain the mortgage borrowing you require as appropriate. We have direct access to lenders and knowledge of Ex-PAT mortgage criteria to help get you the most appropriate mortgage available. If you are eligible, following our discussions, then in principle you can borrow up to 75% of the value of the property subject to affordability assessment, documentation review, valuation of the property and standard checks.

Foreign Currency income

The UK is home to numerous international businesses and people with connections to countries all over the world. In many instances clients can have income, assets and savings from foreign investments such as from their home country. It is also possible that an international business pays their employees in a currency other than UK Sterling GBP. We have experience matching clients with specialist lenders that can utilise foreign income, assets and savings to secure the appropriate mortgage required, subject to lenders criteria. Please see the countries and currencies section to see some of the eligible countries where income, assets and savings can be considered. It is also possible for clients to increase the mortgage borrowing, if appropriate, by utilising their foreign currency income in addition to UK income.

Foreign Nationals – (Living overseas)

Some specialist lenders can consider applications from foreign nationals living overseas who wish to obtain a mortgage in the UK for residential or Buy To Let (rental) investment purposes. Please see the ‘Countries and currencies’ section to see some inclusions. Also see the ‘Documentation’ section to view the typical information lenders request. We conduct an initial review of your objectives and circumstances to determine eligibility and speak with lenders directly to confirm the options available to you. Assuming the lender agrees eligibility in principle we can guide you through the process to applying for a mortgage for your property purchase in the UK. If you are eligible, following our discussions, then in principle you can borrow up to 75% of the value of the property subject to affordability assessment, documentation review, valuation of the property and standard checks.

Foreign Nationals with indefinite leave to remain in the UK

There are numerous lenders that can consider mortgage applications from foreign nationals with indefinite leave to remain, including for applicants on tiered working visas and/ or spousal visas. Lenders typically request documentation as per a standard UK or EEC/ EU citizen application and the document substantiating the indefinite leave to remain e.g. your Visa. Each application is on an individual basis so please contact us to discuss your objectives. If you are eligible, following our discussions, then in principle you can borrow up to 75% of the value of the property subject to affordability assessment, documentation review, valuation of the property and standard checks.

Foreign Nationals without indefinite leave to remain

Some lenders can consider mortgage applications from foreign nationals without indefinite leave to remain and typically have restrictions including but not limited to the following: the length of time the applicant has been resident in the UK, the size of the deposit, type of employment, income, length of time remaining on any permission to remain in the UK, likelihood of an extension to remain. Lender policies can vary so please contact us to discuss your circumstances and objectives. If you are eligible, following our discussions, then in principle you can borrow up to 75% of the value of the property subject to affordability assessment, documentation review, valuation of the property and standard checks.

Important information for International Client Mortgages

Countries and/ or currencies considered include (but may not be limited to):

  • European Economic Area (EEA) Nationals and Swiss nationals
  • Armenia, Australia, Bermuda, Brunei, Canada, China, Egypt, France, Germany, Greece, Guernsey, Hong Kong, Isle of Man, Japan, Jersey, Malaysia, Malta, New Zealand, Oman, Philippines, Qatar, Russia, Saudi Arabia, Singapore, Switzerland, Taiwan, UAE (Including Abu Dhabi, Dubai), USA

 

Lender discretion:

Mortgages for international clients can be more complex and we can help to smooth the process for you. We speak with the lenders directly to confirm your eligibility saving you time and effort and sometimes have access to preferential rates. Our access to lenders management teams and our notes supporting your mortgage application can be the difference to gain approval for your mortgage application. Mortgages for international clients typically require more lender checks and we are experienced to guide you through these requirements. All mortgage borrowing is at the lender’s discretion and confirmed only in the mortgage offer document.

Documentation and information typically requested

Lenders will typically ask for all the usual documentation and checks that are expected of a UK permanent resident and can also ask for additional verification. Each case is reviewed individually and typically lenders will ask for the following (but not limited to):

Proof of ID – Passport certified by ourselves or a authorised person e.g. a bank or notary

Proof of a 25% deposit in a bank account – The lender will require this deposit to be in the UK at the appropriate time

Documents may be required to be translated in to English where the lender does not accept documents in other languages

Proof of income – Payslips if employed or verified by an acceptable accountancy firm confirming your income and assets if you are self-employed/ company director/ Partner.

Note that some lenders affordability assessments may calculate the mortgage borrowing available by a reduction of up to 25% of foreign income to allow for exchange rate currency fluctuations.

The mortgage will need to be paid from a UK bank account in the mortgage applicant’s name, which will need to be setup if it does not already exist.

We can access all types of mortgage and advice you on the right mortgage for your needs.

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Mortgage Glossary

  • Fixed rate – Fix your rate for between 2 and 10 years so that you know exactly how much your monthly payment will be for that period of time
  • Variable rate – The interest rate is not fixed and typically the Lender will set their own Standard Variable Rate and can essentially change it whenever they like
  • Tracker rate – A type of variable rate that tracks the movements of another rate, typically in the UK this will be the Bank of England Base Rate
  • Capital Repayment – Your monthly mortgage payments are made up of both capital and interest so that at the end of your term you have paid off you mortgage.
  • Interest Only – Only pay off the mortgage interest on a monthly basis, be aware that you will still owe the full amount borrowed at the end of your term

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