Ex-pat mortgages are available in the current market place with only a select few mortgage lenders willing to offer such deals.
Being an ex-pat, the most common form of mortgage requested is the Buy to Let mortgage with a potential view of moving into the house at some point in the future.
It is understandable why ex-pats would want to buy in the UK as they see it either as a safe investment opportunity – with a yield often in excess of 5%, or they would like to keep a foothold in the UK just in case they return in years to come – by owning a property in the UK it means they can jump back onto the property ladder with relative ease.
Deposit requirements for the property purchase will be upwards of 25% and the interest rates will be competitive and not too different from those of residential rates available to UK residents. The major change in the set up of an ex-pat mortgage is the time it takes to complete on the mortgage with the logistics and the increased paperwork to back up the mortgage application. The other main difference is that the lender set up fees may be slightly higher.
If you are considering the purchase of a new property as an ex-pat then contact The Mortgage Broker Ltd as we will be able to offer you a wide range of ex-pat mortgage deals and should be able to find a mortgage deal that suits your personal needs and requirements.