Uk Mortgage for British Expats

[AggressiveBunting]

Hi All- Can anyone recommend a good and pro-active broker that can help arrange a mortgage on a UK house purchase for us?- We're British but live in Asia. It's complicated by the fact that we are intending to rent the house as a holiday let but that said, we are looking at low loan/value. Any leads appreciated. HSBC already said no due to the holiday let issue.

[baytree]

Have a search on Laymyhatforum-it is a forum for people who do holiday lets.

[AggressiveBunting]

Thanks- hadnt heard of that. Have a feeling this is not going to be easy!

[Jinsei]

We looked into this while we were living overseas. I'm no expert, but I think you probably will need to look at buy to let mortgages if you're living overseas and plan to let it out, and that will mean a higher ltv.

[AggressiveBunting]

Thanks Jinsei- we know we need to do BTL- the issue is that some lenders won't do BTL at all on a holiday rental due to the lack of guaranteed income.

[gregsageek]

I was told (a long time ago so maybe outdated) that HSBC may consider mortgages for non residents.

[FacebookWillEatItself]

Natwest or Halifax but they won't really like holiday lets either. You might have to let it long term first, then quietly swap it over later.

[FacebookWillEatItself]

And yes, it will need to be a BTL mortgage, not resi. We are currently being offered 60% LTV from Natwest with a minimum lend of 100k.

[JessieMcJessie]

I live in Hong Kong and got a mortgage from RBS about 18 months ago for a rental property, though full time rented. I had a bit of trouble finding a lender at first due to not being UK resident but eventually got offers from RBS and Shanghai Commercial Bank. They assessed my borrowing by reference to my salary, not to the projected rental income. It's actually a residential mortgage with consent to let. This was offered to me by RBS themselves despite me stating very clearly that I never intended to live in the property. I was quite surprised. I used a broker called Platinum Financial Services - they come up on google . They were OK, but not amazing and I actually ended up going directly to RBS because they are my own bank.

[thereistheball]

I think NatWest do a mortgage for expats, providing you intend to move back to the UK and live in the house at some point. I approached them directly and encountered varying degrees of awareness of this product among their contact centre staff - you may need to try a few times to get someone who knows what they are talking about.