Customers often get in touch with us because they\u2019re looking to\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/">buy property in another country<\/a>.\r\n\r\nWhile many of these enquiries come from British citizens seeking a\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/holiday-home-abroad\/">holiday home<\/a>\u00a0or\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/buy-to-let-mortgage-overseas\/">invest in property abroad<\/a>, some come from people living overseas who want to buy in this country.\r\n\r\nThis type of product is referred to as an \u201coffshore mortgage\u201d.\r\n\r\nThis article is going to cover how UK offshore mortgages work, who they\u2019re suitable for, eligibility factors, and what to look out for if you\u2019re buying property in the UK via an offshore company.\r\n<ul>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#right-product">Who can get an offshore mortgage?<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#what-to-look-for">Advice when buying overseas<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#offshore-btl">Offshore mortgage for buy to let properties<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#offshore-self-cert">Offshore self-cert mortgages<\/a>\r\n<ul>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#offshore-affordability">Affordability<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#other-factors-offshore">What other factors impact my offshore mortgage eligibility?<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#offshore-rates">Offshore mortgage rates<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#why-seek-advice">Why seek advice when getting an overseas mortgage?<\/a><\/li>\r\n \t<li><a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/offshore-mortgages\/#offshore-expert">Speak to an offshore mortgage expert<\/a><\/li>\r\n<\/ul>\r\n[feefo-banner]\r\n<h2 id="right-product">Is an offshore mortgage the right product for me?<\/h2>\r\nThe expert advisors we work with have arranged offshore mortgages for various types of customer, including foreign nationals,\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/uk-expat-mortgages\/">UK expatriates<\/a>, and those who simply wish to make a <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/income-types\/mortgage-with-overseas-income\/">UK mortgage application based on foreign income<\/a>.\r\n\r\nGenerally speaking, this mortgage product is most appropriate for customers\u2019 whose main income comes from outside the UK, or for those who are not a UK resident for tax purposes.\r\n\r\nOffshore mortgages are available for those seeking a residential UK property to be used by themselves or family members when visiting the UK. There are also options available for customers seeking buy to let investments.\r\n<h2 id="what-to-look-for">What to look out for if you\u2019re after an offshore mortgage for a UK property<\/h2>\r\nWhenever you purchase property overseas, it is inevitable that the process will be slightly more complicated than getting a mortgage in your native country.\r\n\r\nSecuring an offshore mortgage can be very complex, so ensure to seek legal advice from a lawyer who is familiar with UK property law, fluent in both English and the native language, and independent of everyone else involved in the deal.\r\n\r\nAlso, be sure to consider the following:\r\n<h3>Tax liability on foreign mortgages for UK property<\/h3>\r\nWhile offshore mortgages can be very tax-effective for some, you should always take personal tax advice because the process can be very complicated. The smallest oversight could have big (not to mention expensive) consequences.\r\n<h3>Check the paperwork thoroughly<\/h3>\r\nRead through any legal documentation and contracts thoroughly. Your mortgage broker and lawyer can do this on your behalf to make sure that you have the correct permissions, licences and planning consents in place before you sign anything.\r\n<h3>Exchange rate changes<\/h3>\r\nEven a small change to the exchange rate could significantly affect the value of your property, and your mortgage payments. A drastic fluctuation could result in your mortgage becoming unaffordable overnight.\r\n\r\nTo prevent this from occurring, all lenders are under obligation to tell you if the exchange rate fluctuates by more than 20%, in which case you\u2019ll have the option to repay the mortgage in another currency.\r\n<h2 id="offshore-btl">Can I get an offshore buy to let mortgage?<\/h2>\r\nOne of the most common reasons people seek an offshore mortgage is for a\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/buy-to-let-mortgages\/">buy to let (BTL)<\/a>\u00a0property. After all, if you\u2019re based overseas for the majority of the year, a BTL is a good investment opportunity considering the cost of UK living.\r\n\r\nWe have access to a number of specialist brokers, both in the UK and overseas, who offer offshore mortgage services for those looking to invest in <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/overseas-mortgages\/overseas-buy-to-let-mortgages\/">BTL property in another country<\/a>.\r\n<h2 id="offshore-self-cert">Are there self-cert offshore mortgages?<\/h2>\r\nSelf-certified mortgages let you specify how much you earn when you apply without having to back up your claim with documentation.\r\n\r\nThey were originally aimed at borrowers who find it difficult to prove their income, such as the\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/self-employed-mortgages\/">self-employed<\/a>, those who need to <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/income-types\/using-commission-and-bonus-income-for-mortgages\/">apply for a mortgage based on bonuses or commission<\/a>, or borrowers who have a number of different sources of income.\r\n\r\nAlthough they have been banned in the UK, if you\u2019re taking out an offshore mortgage on UK property, you may find that your native country has more flexible rules surrounding self-certs.\r\n<h3 id="offshore-affordability">Offshore mortgage affordability requirements<\/h3>\r\nBeing able to prove your <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-affordability\/">mortgage\u00a0affordability<\/a>\u00a0is a key requirement of all lenders. But as established, lending criteria varies by country as well as by provider.\r\n\r\nFor example, lenders in certain countries may accept self-cert mortgages, others will not. Some are happy to lend you a\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-affordability\/mortgage-income-multiples\/">multiple of your income<\/a>\u00a0without question, whereas others carry out additional assessments.\r\n<h2 id="other-factors-offshore">What else impacts my eligibility for an offshore mortgage?<\/h2>\r\nResidential offshore mortgages tend to be capped at around 75% LTV, although some lenders may be slightly more generous depending on your country of residence and your individual circumstances.\r\n\r\nFor example, a history of\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/bad-credit-mortgages\/how-to-get-a-mortgage-with-bad-credit\/">adverse credit<\/a>\u00a0on your record may restrict the numbers of mortgage providers willing to lend to you, meaning you could be offered less favourable rates and be required to put down a\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/deposits\/high-deposit-mortgages\/">larger deposit<\/a>.\r\n\r\nOther influencing factors which could impact your mortgage eligibility include your <a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgages-for-pensioners\/">age<\/a>\u00a0and\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/income-types\/">job type<\/a>.\r\n\r\nYou can find out more about how each of these factors can affect your mortgage application by clicking the links above.\r\n<h2 id="offshore-rates">How to get the best offshore mortgage rates<\/h2>\r\nThis product is so niche that there are very few offshore mortgage lenders out there - it\u2019s not something your typical high street bank is likely to offer. That\u2019s why it\u2019s so important to seek advice from a whole-of-market broker such as the ones we work with.\r\n<h3>They can help you find the right offshore mortgage lenders<\/h3>\r\nBecause they have access to such a large range of lenders covering almost every niche imaginable, they can put you in touch with all the specialist offshore mortgage companies and providers who are willing to consider your\u00a0<a href="https:\/\/www.onlinemortgageadvisor.co.uk\/mortgage-application\/">mortgage application<\/a>.\r\n\r\nNot only does this mean that you\u2019ll have an expert on hand to guide you through the whole process, it also ensures that you will receive the most competitive offshore mortgage rates given your circumstances.\r\n<h2 id="why-seek-advice">Why speak to the offshore mortgage brokers we work with?<\/h2>\r\nWe\u2019ve helped over [customers_helped] people find the right mortgage, even for buyers who have been declined a mortgage or have a bad credit history.\r\n\r\nIn fact, our customers consistently rate us 5 stars on Feefo, mainly due to our high levels of service, but also because we offer offers a 5-star service with access to expert brokers who:\r\n<ul>\r\n \t<li>Are whole-of-market.<\/li>\r\n \t<li>Can offer bespoke advice to customers buying in the UK or overseas.<\/li>\r\n \t<li>Have a working relationship with all lenders, including those who offer offshore mortgages.<\/li>\r\n \t<li>Already know the lenders to go to as they have successfully arranged offshore mortgages on UK property.<\/li>\r\n \t<li>Are OMA Accredited advisors.<\/li>\r\n \t<li>Have completed a 12 module LIBF accredited training course.<\/li>\r\n<\/ul>\r\n<h2 id="offshore-expert">Talk to an offshore mortgage expert today<\/h2>\r\nIf you require more information on how to go about getting a foreign mortgage for UK property, and to find the best interest rates for your circumstances, call Online Mortgage Advisor on 0808 189 2301 or\u00a0<a href="https:\/\/enquiries.onlinemortgageadvisor.co.uk\/match-me-with-an-overseas-specialist">make an enquiry<\/a>.\r\n\r\nThen sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances. We don\u2019t charge a fee, and there\u2019s no obligation or marks on your credit rating.