Mortgage Brokers for Expats
Need some help finding a mortgage as an expat? Here’s all you need to know about working with an expert expat broker.
Are you or have you ever been a UK resident?
Author: Pete Mugleston
CeMAP Mortgage Advisor, MD
Are there mortgage brokers for expats?
Yes, certain brokers specialise in offering expats mortgage advice. Given that finding and getting approved for a mortgage can be harder for expats, this advice can go a long way in getting you a decent deal, be it for a UK property when you live elsewhere or a mortgage somewhere like the USA, Cyprus or Thailand, as a UK citizen.
Depending on where you’re looking to buy, whether you’re currently based or earning an income, some lenders will instantly reject an application because they perceive the context as too risky. Others are more open to expat applicants but have stringent criteria that typically include needing a larger deposit and an array of paperwork that verifies where your money is coming from. There can also be international law, taxes, customs and licensing.
A broker who understands the nuances of international finance has been through the process of obtaining expat mortgages several times and already has a list of providers to recommend, which can save you time and any potential mortgage rejections.
Through our broker matching service, you can be connected to an accredited broker who is familiar with the expat lending market.
Related Articles
Speak To An Expert in Expat Mortgages
Receive a Callback From a Qualified Mortgage Advisor
-
An Advisor Will Guide You Through The Entire Process
-
Receive Personalised Advice
-
Find Out What Rates You Could Get
The services they provide
Expat brokers can give you all of the standard mortgage guidance – how to apply, what you can afford, and the deposit you’ll need – but with additional advice on navigating this process as an expat. This means they’ll be able to:
- Assess your finances, including any foreign earnings. Based on this and any nuances such as being self-employed or having bad credit, they can advise on your eligibility for a mortgage in the UK or elsewhere and the size of mortgage you could expect. Mortgages for expats are often seen as more risky, meaning lenders have a higher affordability bar to meet.
- Explain the different mortgages available to you. It could be that you plan to buy a property in the UK to rent it out or use it as a holiday home when you visit. Maybe you plan to buy abroad but will rent that out too or live in it full time. Your circumstances will determine the kind of mortgage you need, and the criteria for each will differ. An expat mortgage specialist can help you navigate that.
- Help compile your application. Extensive forms, checks, and evidence usually need to be completed and submitted to verify overseas earnings and your identity. A broker can help you compile it all and advise on how to pass the stricter affordability tests.
- Recommend which expat mortgage lender to apply to. The pool of lenders will be significantly smaller, with a few less familiar names, but a broker will know which lenders currently offer international mortgages and where to apply for the most competitive terms and rates.
- Provide accurate costings. With different taxes and customs to consider, paperwork that might need to be filed in multiple places, and a fluctuating exchange rate to contend with, additional fees can occur in this situation. Your expat broker will be able to give you an idea of the additional amount you’ll have to set aside and offer ways to reduce or even avoid some of those costs.
- Advise on the course of action when/if you decide to return to the UK. A broker can help you remortgage onto a different arrangement should your circumstances change.
The brokers in our database have a wealth of experience navigating the mortgage process as expats. Offering personal advice from enquiry to completion, if you want to be matched with an expat mortgage advisor today, get in touch, and we’ll arrange for someone to speak with you.
We're so confident in our service, we guarantee it.
We know it's important for you to have complete confidence in our service, and trust that you're getting the best chance of mortgage approval at the best available rate. We guarantee to get your mortgage approved where others can't - or we'll give you £100*
The benefits of working with an expat mortgage expert
Combined, access to these services means:
- A potential cost saving by securing a better rate than can likely be found alone.
- A potential time saving by eliminating the need for you to do extensive research on expat mortgage providers in the UK or overseas and their various criteria.
- A higher chance of mortgage approval and lower risk of rejection because of the additional application support.
How to find a broker for expat mortgages
The most obvious thing to do is Google “best expat mortgage broker in the UK,” but that could throw up a range of results that are difficult to sift through and don’t guarantee that the broker you’re contacting is indeed a specialist in this type of mortgage or indeed a specialist in the country context you require as well as the UK. Our broker matching service can guarantee both of those elements.
After answering a few questions, our service, taking your specific needs and circumstances as an expat into consideration, as well as your overseas location and place where you’d like to buy a property, can match you to a verified expert who has obtained mortgages for many similar applicants before.
That way, you can be reassured that the advice you’re getting is based on experience and tailored to you, thus increasing your chances of securing a good expat mortgage deal. They’ll also already have existing relationships with several lenders, which means access to information you wouldn’t otherwise have and ’boutique’ lenders you may not have heard of.
Rebecca's Story
I couldn’t recommend Online Mortgage Advisor highly enough
“I couldn’t recommend Online Mortgage Advisor highly enough for their ability to put people in touch with an expert, particularly when looking for a mortgage made complicated by moving internationally.”
How much broker services cost
A first-time consultation with one of our brokers is free of charge. Beyond that, any further support would incur a fee but the exact amount and method of payment is something your broker will communicate with you.
In general, though, you can expect to pay an initial cost upfront and the remainder only when you have a successful mortgage application. If a mortgage isn’t forthcoming, most brokers will offer a refund.
Related Articles
Get matched with an expat mortgage specialist
Finding good mortgage advice can be difficult. Add the additional layer of being an expat, and such advice is harder to come by but entirely necessary if you’re to get mortgage approval.
The expat mortgage specialists we work with are experts in the UK lending market and have extensive knowledge of what it means to live and potentially buy elsewhere. Our service can take your current location and match you with a broker who understands both contexts. They can also help you submit an application that’s more likely to improve your chances of success.
Call 0330 818 7026 or fill out this form to connect today.
FAQs
Most brokers working with expats understand that various time zones are a factor and are often willing to work to find suitable times for both parties to talk whilst communicating via email, for example.
Speak to a specialist expat broker
Maximise your chance of approval with a dedicated specialist broker
Pete Mugleston
CeMAP Mortgage Advisor, MD
Pete, a CeMAP-qualified mortgage advisor and an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete successfully went the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained and his love of helping people reach their goals led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.
Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for Online Mortgage Advisor of course!
Highly recommend
I moved to New Zealand many years ago but recently moved back to the UK. Due to being out of the country my UK credit history was non-existent which meant lenders quickly turned me away. That’s when this company popped up, their broker contacted me straight away. They really knew their stuff.
Rebecca P
They pulled out all the stops
Great staff and good communication. Helped us understand the process and gone over and above to help in a difficult situation. Other companies couldn't even be bothered but Thank you so much!
Anneke Woolley
Ben was Fantastic!!!!
Ben Atkinson was outstanding, we cant thank him enough! He was fantastic and did an amazing job getting us our first time mortgage! He dealt with us perfectly every step of the way, just a pleasure to deal with! Highly recommend 100%
Laura