An expat mortgage is a home loan for UK citizens living and working abroad. These mortgages allow expats to purchase property in the UK, either as an investment or for when they return to the country.
Who is eligible for an expat mortgage?
Expats with a good credit history, stable income, and a deposit of at least 25% of the property value are typically eligible for an expat mortgage. Lenders may also consider factors such as the country where the expat is living and their plans for returning to the UK.
How does an expat mortgage work?
The process for obtaining an expat mortgage is similar to a regular mortgage. The main difference is that lenders require additional documentation, such as proof of income and residence abroad. An expat mortgage’s terms and interest rates may also differ from a regular mortgage.
What are the benefits of an expat mortgage?
An expat mortgage allows UK citizens living abroad to invest in property back home or have a place to return to when they return to the country. It can also be a way for expats to build their credit history in the UK and potentially take advantage of lower interest rates than mortgages in their country of residence.
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