We have put together answers to the most common questions we receive from expats, foreign nationals, and overseas investors looking to buy UK property. If your question is not covered here, book a free consultation and we will answer it directly.
About Expat Mortgages
Can a UK expat living abroad get a UK mortgage?
Yes. UK nationals living overseas can obtain UK mortgages through specialist expat lenders. High street banks typically require UK residency, but specialist lenders – accessible through The Mortgage Story – are specifically designed for overseas borrowers. We have access to over 40 lenders who work with expat clients.
What is an expat mortgage?
An expat mortgage is a UK mortgage product for British nationals living outside the UK who want to purchase property in the UK. They differ from standard mortgages in that they accept overseas income, foreign currency payslips, and non-UK addresses. See our full guide: What is an expat mortgage?
Do I need to be in the UK to apply for an expat mortgage?
No. The entire process can be managed remotely. Documents are provided digitally, identity verified via video call or certified copies, and your UK solicitor handles the legal completion without requiring your physical presence in the UK.
How much deposit do UK expats need?
For buy-to-let expat mortgages, most lenders require a minimum 25% deposit. For residential expat mortgages, some lenders accept 10-15% for well-qualified applicants. A larger deposit always improves your lender options and interest rates.
Which countries can UK expats apply from?
We help expats in most countries worldwide. Our most active client locations include UAE, USA, Canada, Switzerland, Singapore, Australia, Hong Kong, South Africa, and across Europe. Contact us if you are based elsewhere and we will confirm your options.
Foreign Currency Income
Can I use foreign currency income for a UK mortgage?
Yes. Specialist lenders accept income in most major currencies including USD, AED, CHF, CAD, SGD, AUD, HKD, EUR, and ZAR. Your income is converted to sterling at prevailing rates for the affordability assessment. See our guide: Expat mortgage with foreign currency income.
Does a tax-free salary count in full?
Yes. Tax-free income – common in the UAE and Gulf countries – is assessed at its full value by most specialist lenders. This is a genuine advantage for expats in tax-free jurisdictions compared to equivalent UK earners.
Can my overseas bonus be included?
Some lenders will factor in regular bonus income using a 2-3 year average. This varies by lender. We know which lenders take the most favourable view of variable pay components.
Foreign National Buyers
Can a foreign national buy property in the UK?
Yes. There are no nationality-based restrictions on property ownership in the UK. Foreign nationals from any country can purchase UK property. See our Foreign National Mortgages page for full details.
Can a foreign national get a UK mortgage with no UK credit history?
Yes. Several specialist lenders will consider applications with no UK credit history, particularly for buy-to-let with a 25%+ deposit. Overseas credit records can be referenced. See our guide: Foreign national mortgage with no UK credit history.
How do I build a UK credit history as a new arrival?
The fastest steps are: register on the electoral roll, open a UK bank account, and get a UK credit builder card used and paid monthly. See our full guide: How to build UK credit history as an expat.
How much deposit does a foreign national need?
Most foreign national mortgage products require a minimum 25% deposit. A 30-40% deposit gives access to the widest range of lenders and best rates.
Buy-to-Let for Overseas Investors
Can I get a buy-to-let mortgage if I live outside the UK?
Yes. Specialist lenders offer buy-to-let mortgages to overseas buyers. Assessment is primarily based on the rental income the property will generate rather than solely on personal income, which makes BTL often more accessible for overseas applicants.
How is rental income assessed for a buy-to-let mortgage?
Lenders require the projected monthly rental income to cover 125-145% of the monthly mortgage payment. This is verified by an independent rental valuation arranged as part of the application process.
Do I need a UK letting agent if I live overseas?
Most lenders require an ARLA-registered letting agent to manage the property if the landlord lives overseas. A good letting agent handles tenants, rent collection, and maintenance on your behalf.
The Mortgage Process
How long does an expat mortgage take?
From initial enquiry to mortgage offer, most expat cases take 4-8 weeks. Complex cases may take slightly longer. We work proactively to keep your application moving and communicate clearly at every stage.
What documents do I need for an expat mortgage?
Typically: passport, proof of overseas address, 3-6 months of payslips or income evidence, 3-6 months of bank statements, and evidence of deposit funds. Self-employed applicants will also need 2-3 years of tax returns or accounts.
How much does The Mortgage Story charge?
Initial consultations are always free and without obligation. We typically charge a broker fee of 495 GBP for arranging a mortgage, though the precise amount may vary depending on circumstances and will not exceed 1,000 GBP. There is no fee for providing mortgage advice.
About The Mortgage Story
Is The Mortgage Story FCA regulated?
Yes. The Mortgage Story is a trading style of The Mortgage Story Ltd, which is an Appointed Representative of Stonebridge Mortgage Solutions Ltd and is authorised and regulated by the Financial Conduct Authority. FCA Firm Reference Number: 991223. You can verify this on the FCA Financial Services Register.
What areas does The Mortgage Story serve?
We are based in Surrey and primarily serve clients across Surrey, Essex, and Greater London for local mortgage needs. We also work with clients worldwide for expat and foreign national mortgage applications – the entire process can be managed remotely.
Does The Mortgage Story provide tax advice?
No. The Mortgage Story provides mortgage and protection advice only. We are not authorised to provide tax advice. We strongly recommend consulting a qualified tax adviser for any tax-related questions relating to UK property ownership. We are happy to refer you to trusted specialists.
Not sure where to start? Book a free consultation with The Mortgage Story and we will tell you exactly what is possible for your situation.