{"id":2408,"date":"2024-04-12T09:19:40","date_gmt":"2024-04-12T09:19:40","guid":{"rendered":"https:\/\/lendingline.co.uk\/?p=2408"},"modified":"2024-04-30T11:59:17","modified_gmt":"2024-04-30T10:59:17","slug":"uk-mortgage-for-expats-in-uae","status":"publish","type":"post","link":"https:\/\/lendingline.co.uk\/uk-mortgage-for-expats-in-uae\/","title":{"rendered":"UK Mortgage for Expats in UAE"},"content":{"rendered":"\n

There are various reasons why you might be looking at a UK mortgage for expats in UAE<\/em><\/strong>, whether as investments or to return home.<\/p>\n\n\n\n

However, getting a mortgage in England may be challenging, particularly if you live in the UAE, due to the Mortgage Credit Directive<\/a> laid out by the European Commission in 2014.<\/p>\n\n\n\n

Working and living abroad can influence your access to lending options despite having a substantial income if you were to have one. Numerous mainstream lenders may not cater to expatriates due to their lack of familiarity with international mortgage procedures. <\/p>\n\n\n\n

Nonetheless, rest assured, there are alternative solutions accessible to you. In this article, we will discuss the same for expats in the UAE looking to buy properties in England.<\/p>\n\n\n\n

Can I Get A UK Mortgage If I Live in Dubai?<\/strong><\/h2>\n\n\n\n

Getting a mortgage in England when you\u2019re working and residing in the UAE as an expatriate is indeed feasible.<\/p>\n\n\n\n

Although it may limit your choices due to the complexity involved compared to applications from UK residents, there are specialist lenders well-versed in handling such cases and can often provide a more comprehensive assessment of your financial situation.<\/p>\n\n\n\n

There are several methods available for securing a UK mortgage when living overseas. And while some lenders might think twice before offering you a mortgage if you\u2019re a UAE expat<\/a>, our experienced mortgage advisors may be able to help you find a suitable option.<\/p>\n\n\n\n

3 Ways To Get A UK Mortgage for Expats in UAE<\/strong><\/h2>\n\n\n\n

1. Purchasing Property For Residence<\/strong><\/h3>\n\n\n
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\"What<\/figure><\/div>\n\n\n

Acquiring properties for residence is likely to be the most straightforward path to securing a mortgage when residing abroad. <\/p>\n\n\n\n

As a British expat buying property in England, the mortgage application will primarily depend on your income and financial situation, simplifying the process compared to other types of mortgages, such as buy-to-let mortgages<\/a>.<\/p>\n\n\n\n

The regulations governing buy-to-let properties in England are becoming stricter, affecting overseas buyers. <\/p>\n\n\n\n

However, by purchasing property in England without renting it, you can circumvent these regulations or additional pieces of criteria and potentially secure a more favourable mortgage deal as a result. <\/p>\n\n\n\n

If the above is the case it is likely you may be looking for a residential mortgage. <\/p>\n\n\n\n

It’s crucial to acknowledge that many lenders consider a single income source. If your income derives from multiple channels, collaborating with an expert broker could assist you in accurately portraying your complete income to any prospective lender. <\/p>\n\n\n\n

This might just help you meet the required criteria and get your application through.<\/p>\n\n\n\n

2. Refinancing Properties Owned in England<\/strong><\/h3>\n\n\n\n

If you currently own property in England, including potential investments, your current mortgage(s) might be reaching the end of their fixed-rate periods, transitioning to the lender’s higher SVR. <\/p>\n\n\n\n

Alternatively, you may have used your tax-free foreign salary to make extra payments to reduce the principal of your mortgages. <\/p>\n\n\n\n

Coupled with the rise in property value, this could mean there’s available equity, potentially leading to significant reductions in repayments through remortgaging<\/a>.<\/p>\n\n\n\n

3. Buying Properties in England As Investments<\/strong><\/h3>\n\n\n\n

The UK often presents itself as a potentially prime investment location, primarily due to high-value rentals and then return on investment (ROI). <\/p>\n\n\n

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\"What<\/figure><\/div>\n\n\n

Buy-to-let properties<\/a> stand out as attractive opportunities for investors seeking long-term growth and stable rental income.<\/p>\n\n\n\n

For those contemplating a return to England in the future, renting out their property until their eventual relocation could be an appealing option. Of course if then moving into the property a residential mortgage would be needed, opting to convert their buy-to-let mortgage into a residential one for personal occupancy.<\/p>\n\n\n\n

Expat investors living in UAE seeking a UK mortgage may require finance for different scenarios:<\/p>\n\n\n\n