The Promise Money team is well equipped to cope with loan applications from customers with a wide range of different financial needs. One such group we help is Expats in particular those who are living in Europe and wish to re-establish roots back in the UK through investing in property to let, following the Brexit referendum. This trend was highlighted recently in an industry poll.
Fortunately, our lenders take a flexible and commercial approach to Expat and foreign national mortgages so please call if you need a bespoke solution. Our criteria includes:
- All countries considered
- LTV’s up to 80%
- UK nationals working in the UK but paid in a foreign currency
- Foreign Currency Income
- Foreign Currency repayment strategy
- Working abroad with family remaining in the UK
- Option to roll up some or part of the interest
- Interest Only available
- Fixed Rates available
- Loans up to £10 million
Here are just a couple of the cases we have placed in recent weeks:
- The borrower worked in the Middle East for the past 5 years and was looking to start a new job in Saudi Arabia next month, with a different employer and wanted to purchase a property in the UK to rent to parents.
- The borrower owned property overseas but was renting accommodation in the UK and wished to purchase a residential property here. The applicant was working in Qatar, paid in USD and was lawfully tax exempt. The deposit for the property was being gifted by family. With confirmation of the employment contract, UK bank account and 6 months history of rent payment in the UK, the clients were able to borrow up to 65% of the purchase price.
If you are an Expat looking for a mortgage please talk to the Promise Money team. In addition to mortgages we also have a range of specialist lenders willing to offer second charge secured loans to Ex Pat’s as well. If you are an Expat looking for finance – try Promise.