What are the legal requirements to get a mortgage in the UK as a foreigner? Foreigners, resident or not, can legally buy property in the UK. As an expat you can also apply for a mortgage, although individual banks will set their own terms.
Can I remortgage while living abroad?
Can I remortgage if I live abroad? Yes, this could be possible! Expat remortgages on properties in the UK are actually easier to arrange than new mortgages, as in most cases you will have an up-to-date credit history.
How long do you have to live in the UK to get a mortgage?
three years
The general rule is that you need to live in the UK for three years if you want to get a UK mortgage. This gives you a three-year address history, which is the standard amount that is required to give you a reliable and traceable credit history.
Can non British citizens get a mortgage?
You can get a mortgage in the UK even if you’re not a UK citizen. It’s less about where you born, and more about your credit history, and that you’re allowed to be in the UK and earn money there. Lenders will want to see you have a good credit history in the UK before they agree to give you a mortgage.
How do I get a mortgage UK when living abroad?
Yes, it is possible to get a UK buy to let mortgage as an overseas resident. Regardless of whether you are living abroad on a temporary or permanent basis, if you’re looking to get a UK mortgage while you’re away from your home country, you will need to approach a specialist expat mortgage provider.
Can I get a mortgage as an expat?
Can British expats get mortgages for a Buy to Let? Yes. Many expats purchase a buy to let as either an investment or a place to live when they return to the UK. Find out more in our guide to Buy To Let Mortgages.
Can I buy a house in the UK if I live abroad?
There are no legal restrictions on expats buying property in the UK. Foreigners and non-residents can also get a mortgage in the UK. However, those with less than two years of residency in the UK and without a job may face more stringent requirements and a bigger deposit.
How much deposit do you need for an expat mortgage?
Expats taking out a residential loan will need a deposit of at least 25% if they are buying a property worth up to AED 5 million. More expensive homes will require a deposit of at least 35%.
