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Expat Mortgages

If you already live abroad, you might struggle to get a house on the UK property market. In the same sense, if you are hoping to buy a holiday home, you might worry about getting the right mortgage for you. That is where ExPat mortgages come into the equation. When you choose to buy a home in the UK, you're making a massive investment. While people may choose to lead their lives elsewhere, it is always an excellent idea to have a base in Britain. So, how can you get the mortgages you need at a price that suits you? Here is everything you need to know.

What is an ExPat mortgage?
Right now, there are around 5 million British people living and working abroad. That is a massive amount of the population. Often, these people move for work so that they can make more money than ever. When they get a large wage, they have to think about ways in which they can invest the money. One of the easiest and most beneficial things they can do is get a mortgage here in the UK. Often this type of loan will be a buy to let mortgage. Since the people don't plan to live in the UK anytime soon, they might want to let it out.

As you can imagine, these types of loans tend to be quite complicated. One of the main issues is that some lenders tend not to trust people when they live abroad. It's hard to see the financial records, and so it is hard for them to see whether the person can pay it back. As you well know, lenders like to see everything before they make a decision. Usually, the bank will insist on a comprehensive interview with the client. This meeting is likely to take place online, and the lender will use a video chat function. There will also be a system of credit checks and, of course, identity checks before the loan.

Where can you find the best ones?
It may surprise you to learn that many lenders offer ExPat mortgages online. When you go to a lender's site, it may not say anything about this type of mortgage. Often, these banks or building societies don't say anything about their ExPat mortgages. You need to get in contact with them and ask them whether they will give you a loan or not.

Since the number of ExPats is growing and growing, there is a high demand for this type of loan. That is why many lenders have upped their game and started to offer it to people. You need to be aware that the lender will want to do many checks before they allow you to get a loan. Some new banks, such as Skipton International, have a particular foreign sector. That means that they have a specific department that deals with loans abroad. It is a good idea to deal with one of these banks, rather than those that are new to the market.

Expat Mortgages

A Happy Couple
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Borrow £25,000 to £2.5 Million
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Property Purchase and Re-mortgages
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CCJ's, Defaults and Missed Payments
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Mortgage Arrears
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No Initial Credit Check
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One of our mortgage consultants will be in touch with you to discuss your application.
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We will then forward the ESIS to you and talk you through the details of your mortgage.
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