There is lots of useful information in our article and case study sections. Built up over many years we share new developments in lending attitude and also client case studies for the more difficult holiday lets!
A popular investment strategy for British expats is to buy property in the UK. Commonly this is commercial or residential buy to let but more expats are now seeing that a holiday let property can be a lucrative investment opportunity.
Holiday let mortgages themselves are quite hard to find, so combine this with an expat borrower, means that a specialist mortgage broker is almost certainly be going to be required.
Expat holiday let mortgages are only available from a small number of specialist UK lenders. However, they can be found if you know where and how to look.
Holiday Let Mortgages is a specialist and has relationships built on trust with the few lenders that operate in the ex-pat market so we can do in hours what it may take others weeks. There are certain elements of preset mortgage lending criteria for ex-pat holiday let mortgages. However, each case is considered on its merits by a lending manager, rather than a computer.
The following are examples of typical lender requirements.
Individual lenders may have further requirements.
As a rough guide, applicants should:
reside in a country not subject to sanctions of any kind
be employed by a company capable of being found on a search
for the self-employed. The business should be searchable and have three years’ accounts available compiled by a recognised and qualified Accountant
be in receipt of UK private pension income
own a UK property (desirable, but not essential)
must have a UK Bank Account
must be fit for purpose at outset
up to 75 % LTV for the employed (and certain contractors) and for self-employed (all subject to rental cover)
no deposit option for those with other suitable property security available
purchases and re-mortgages available
If you are looking for an Ex Pat Holiday Let Mortgage, please call us first on 020 8301 7931