Expat Mortgages for the UK: All You Need to Know

Expat Property Story

#163
One of the most frequently asked questions I get when listeners reach out is around expat mortgages. Do you need a broker?
Does it matter where you live or who you work for? What kind of bank account do you need?
Can you get a limited company mortgage, or should you buy in your personal name?
What are the rules around portfolio landlords? Today, Simon Allen of Searchlight Finance answers all these questions and much much more.
This is a repackaged compilation of Episodes 15 & 16, first released in 2022.
We discuss:

- Different Types of Expats and Their Mortgage Qualification Criteria

- UK passport holders living abroad

- Foreign nationals with overseas passports

- Lenders Criteria for Expats and Complexity

- Countries of residence and work

- Credit history

- Types of properties for personal or Ltd Co names

- Income within a limited company

- Requirement for taking a salary or providing a set of accounts

- Overcoming Anti-money Laundering Regulations

- Importance of a good credit file and experienced solicitors

- Significance of UK Correspondence Address

- Dual representation in conveyancing

- Need for independent legal advice with Ltd Co borrowing

- Proof/Source of Funds

- Minimizing frequent financial transactions and emails

- Additional Fees for Expats and Foreign Nationals

- Minimum values

- Considerations for Couples with Foreign National

- Shareholder/Director roles in a Ltd Co

- Impact of Broker Experience and Focus

- Documentation process knowledge

- Technology Challenges and Communication Issues

- Delays and difficulties with remote working

- Valuations

- Ltd Co mortgages' tax treatment and rates

- P ortfolio growthChallenges

- Product transfers

- Challenges of remortgaging for expats returning home
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Keywords:
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