Mortgages for Expat's

[Mezger]

We're expats in Singapore, planning to return to the UK in the near future. My wife has found a house.

Does anyone here have experience with mortgages for Expats? HSBC do it, it seems. I wonder if there are others?

[Sarnie]

Mezger said:

We're expats in Singapore, planning to return to the UK in the near future. My wife has found a house.

Does anyone here have experience with mortgages for Expats? HSBC do it, it seems. I wonder if there are others?

There are a few that do it but not many, the reason being that most lenders require you to be a UK resident at the point of application.

[anonymous-user]

From experience expect a poor interest rate and exorbitant arrangement fees every step of the way.

[Mezger]

Joey Deacon said:

From experience expect a poor interest rate and exorbitant arrangement fees every step of the way.

Yes, seems 4% and 2k fee is the 'best', still there are no early repayment charges.

Sarnie, how soon could someone re-mortgage to normal resident mortgage? , if we take the HSBC expat mortgage, pay it off in first year - (we will likely be back within 12mths).

[Sarnie]

Depends on timescales, some will do it from the day you are back in the UK. Some, like Nationwide for example, won't lend where there is any foreign address history in the last 3 years..........

[shirt]

Last time I looked natwest did them. Lower %deposit than usual iirc

[Pitre]

Get a good broker...

[Mezger]

Pitre said:

Get a good broker...

Yes, keen to hear any recommendations...

@Sarnie, From memory, this is not an area you focus on, is that still the case?

[Mezger]

shirt said:

Last time I looked natwest did them. Lower %deposit than usual iirc

Was this recently? When I checked in the past, I think Natwest stopped in 2016....

[JoeRRS]

I used John Charcoal brokerage for my latest expat re-mortgage it would have been much easier process if i was then renting it out but my wife lives in the house.

I would recommend them and will no doubt be using them again in the near future.

[Pitre]

Call Michael Michalia at www.touchstonecommercial.co.uk

[MisanoPayments]

Mezger said:

We're expats in Singapore, planning to return to the UK in the near future. My wife has found a house.

Does anyone here have experience with mortgages for Expats? HSBC do it, it seems. I wonder if there are others?

I put your question to an IFA I work with, who in turn has asked his mortgage guy who came back with two options:

1) There is one lender who would lend on the basis of having a work contract, or one that starts within three months of arrival.

2) A broker serving ex-pats should point 1 not apply.

[MarkGArgyle]

Mezger said:

Pitre said:

Get a good broker...

Yes, keen to hear any recommendations...

@Sarnie, From memory, this is not an area you focus on, is that still the case?

We had this issue coming back from ROI and after a painful journey Sarnie sorted us with Darlington with a quite high % but it was very much Hobson’s choice.

Looking forward to the end of the year when we can remortgage but interest rates are not looking favourable…