Browse our residential ex-pat lending criteria
Residential ex-pat lending criteria
A
No minimum income required.
Applications are capped at 5.0 loan to income, once converted to GBP using our currency conversion calculations.
We will not take a % haircut, however we will calculate affordability based on actual income/expenditure (net).
Applicants that live abroad and have a UK based self-employed business, this income will be excluded from the affordability assessment.
Foreign Income that is from foreign pension will be excluded from the affordability assessment.
We can assess affordability using the below 20 currencies:
- US Dollar
- Euro
- Canadian Dollar
- Norwegian Krone
- Swiss Franc
- Danish Krone
- Swedish Krona
- Chinese Yuan Renminbi
- Emirati Dirham
- Saudi Arabian Riyal
- Hong Kong Dollar
- Kuwaiti Dinar
- Singapore Dollar
- Qatari Riyal
- Japanese Yen
- New Zealand Dollar
- Australian Dollar
- Bahraini Dinar
- Oman Rial
- Bermudian Dollar (if pegged as US Dollar)
C
For Fixed-Term Contractors who are employed and taxed at source, the below criteria applies;
- They must have a minimum of 12-months contractor history with no more than a 2 month break within the latest 12 months
E
Excluding applicants previously within full time education, all employed applicants must be in permanent full or part-time employment, and continuously employed for the last 6 months, including probationary period, if appropriate
A person who holds British citizenship and resides outside the UK, often for work, retirement, or personal reasons. They retain ties to the UK, such as property ownership, financial interests, or family connections.
Applicant 1 must meet our definition of an expat and afford the mortgage in their own name, if the second applicant is not a UK citizen.
Applicants with dual nationality can be considered.
I
All income and expenditure must be included in the local currency on the decision in principle and application form, not in GBP conversion.
Applicants who are party to the application, that reside in the UK and are self-employed with a UK-based business are acceptable, subject to the standard self-employed lending criteria.
Applicants that live abroad and have a UK based self-employed business, this income will be excluded from the affordability assessment.
Foreign Income that is from foreign pension will be excluded from the affordability assessment.
J
We can accept applications where applicants 1 and 2 earn income in different acceptable currencies and/or reside in different countries.
L
There is a minimum loan amount of £50,000 for new mortgages. Lending above £1,000,000 can be considered on a case-by-case basis.
The maximum loan amounts are:
- Up to 75% LTV - £1,000,000;
- Up to 80% LTV - £800,000;
- Up to 85% LTV - £600,000;
- Up to 90% LTV - £500,000; and
- Up to 95% LTV - £400,000.
The above LTVs are subject to product availability.
M
All applicants must be aged 21-75 years of age.
N
The maximum number of applicants per application is four.
O
Family members that are not named on the mortgage can occupy the property as long as there is no tenancy in place, and a consent to mortgage can be obtained at offer stage. Acceptable occupying family members are defined as a spouse, common-law partner, parent, grand-parent (including step-parents), siblings and adult children.
R
Applications can be accepted on either a repayment or interest only basis.
Pure interest only is available up to 70% LTV when using sale of the subject property as the repayment strategy (for further details on equity requirements and other repayment strategies that can be considered please see our standard interest only criteria)
S
Applicants who already hold a mortgaged property either in the UK or overseas, will be subject to our second property affordability calculations.
