Finding a UK Mortgage Broker as an Expat
A mortgage broker is essential if you're applying for a mortgage as an expat. Revolution Finance Brokers works with a large network of respected lenders as a whole-of-market broker and can signpost your application to ensure you get the funding you require.
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Finding a UK Mortgage Broker as an Expat
Applying for a mortgage as an expat is always more complicated than as a UK resident, but a professional broker can make the process much easier!
Here'll we'll explain what to look for from your expat broker, what services they can offer, and what to look out for.
How Can a UK Expat Mortgage Broker Help with my Application?
Revolution Brokers work with expats who are looking for mortgages and remortgages for properties both in the UK and overseas.
There are complexities to expat mortgages, with fewer lenders offering suitable products, and more rigid eligibility criteria.
The crucial factor is to work with a broker who can:
- Recommend lenders most likely to approve your application.
- Advice on ways to meet eligibility requirements.
- Provide guidance for expats in countries blacklisted by many UK lenders due to the prevalence of money laundering or other issues.
- Support applicants with ID checks and understanding how to prove employment.
With so many factors to consider, an independent whole-of-market broker ensures that you have the best chance of finding the lending you need, with the leverage to negotiate the most competitive rates possible.
Whole of market brokers
Mortgage that suits you
On time customer support
Are There Benefits to Using an Expat Mortgage Broker?
Many - international mortgages are a different scenario than the UK market, and experience in understanding the pros and cons of different lenders is vital!
- More Options, More Competitive Lending: The Revolution Broker team understands the market lenders, and who can offer which products. The scope extended to self-employed expat mortgages, buy to let lending for UK nationals overseas, self-build mortgages, and financing for expats on an interest-only basis.
- Saving on Mortgage Costs: As your broker, our job is to find you lending and save you money. That includes negotiating rates, recommending loan terms, and avoiding expensive charges and red tape that could have been avoided.
- Faster, More Successful Applications: An international broker is well placed to ensure your application is sent to the right lenders, and you can move through the process much faster, with expert advice on your side.
- Expert Support: Brokers can advise on every aspect of a mortgage application, including international legislation, customs, and the purchasing process overseas. Revolution can also help guide you through the obstacles to securing UK lending as an expat living overseas.
Can I Get a Mortgage for a BTL, Holiday Home, or Residential Property Abroad?
If you need investment financing, to mortgage a holiday home, or find a mortgage for a residential property, a broker is crucial.
The UK buy to let sector is competitive, but as an expat you can expect to pay higher deposits, and deal with more extensive documentation requirements to demonstrate that your anticipated rental income will cover at least 125% of the regular repayments.
When mortgaging a holiday home, you will be subject to affordability testing.
In any scenario, an expat mortgage is more specialist than a standard residential mortgage, and independent advice is essential to make sure you get the best deal, and don't end up tied down to a costly mortgage.
Who is the Best Mortgage Broker in the UK for Expats?
Of course, Revolution Brokers will say ourselves! However, we'd recommend you do your due diligence, check customer reviews, and ask plenty of questions to make sure you're satisfied with your broker before any work begins.
Are There Scottish Expat Mortgage Brokers?
Yes, you can find Scottish mortgage brokers, although lenders in the country are fewer than in England. There are also mortgage brokers specifically working with expats.
Revolution Brokers work with expats throughout the UK, as well as UK nationals living abroad.
Where Can I Go for Independent Mortgage Advice as a UK Expat?
The best solution is to look for a whole-of-market, independent mortgage broker.
Our team is fully independent, which means we can offer any product from any lender that we think offers you the best deal, and are not tied in to any bank, provider or lender.
How Do Exchange Rates Impact Expat Mortgages?
Exchange rates are important in expat mortgages, as even minor fluctuations can make a significant difference to your monthly repayments.
In some cases, and depending on the value and currency, it might be advisable to book currency exchanges in advance to lock in the exchange rate you will pay and eliminate an uncertainty.
Which Countries are Easier to Get an Expat Mortgage For?
Every country works differently, so it's less about easy and difficult locations, and more about knowing the local customs, laws, tax regulations and licenses when purchasing a property. In many circumstances, you may be liable to pay UK taxes too, dependent on your tax residency status.
Using an experienced international mortgage broker is crucial to ensure you understand the costs involved, and can minimise the expense.
More Rigorous Eligibility Criteria
Given that you are based in a different country than your property, an expat mortgage is higher risk, and the eligibility criteria are much stricter than for domestic applicants.
You should also be aware of money laundering rules, and be prepared to prove your identity, including potentially being asked to travel back to the UK to sign documents in person.
Professional Advice from the UK Expat Mortgage Experts
For independent advice about the best lenders for your expat mortgage, or to source the funding you need for a UK or overseas property, contact Revolution Finance Brokers.
Our expat mortgage team are always on hand to help, and can be reached at 0330 304 3040 or via [email protected].
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Securing an excellent mortgage offer with Revolution Finance
Brokers couldn't be easier:
As specialist mortgage brokers for a huge variety of applicants, the whole-of-market consultants at Revolution provide access to an exceptional range of lenders, products and mortgage deals. That means you get the advantage of professional negotiation and broker-exclusives through an established lending network to ensure we always find you the most competitive mortgage available.
The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature.
We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.