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Expat re-mortgage options when existing BTL deal runs out

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Hi there

Moved to Norway this year and luckily have our buy to let properties on fixed rates. Just chatted to The Mortgage works today about what happens when the current fixed rate term comes to an end, seems like the only option is we go straight onto the SVR with no option to get a new deal. I know expat mortgage rates are not the best anyway and there are stipulations that the mortgage is 100k minimum but have I got any options other than putting up with the SVR forever! Any information appreciated!


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Hi Gordon,

You're right:

- expat mortgage rates are not the best

- a lot of expat mortgages require min £100k mortgage amount

- SVR is probably cheaper than a new deal, especially for a sub-£100k mortgage amount

- some lenders won't accept Norway as your country of residence

...and there are a whole host of other considerations before a suitable lender can be identified...(e.g. your personal income situation, the property itself, your BTL portfolio etc etc etc)

Ultimately, your options will have to be checked at the time when your fixed rates come to an end, as the mortgage market will likely change by then...


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  • 2 weeks later...

Just seen your message and you're certainly not alone.

Regarding what to do - for now: nothing, just enjoy the fixed rate you have :) In the future: please speak to a broker (like us :) ) to discuss the details and the options available to you at the time when your fixed rate is nearing its end. There are lenders who are happy to lend to expats, those living in Norway and borrowing below £100k. The numbers are limited, granted, but let's see what can be done when the time comes.

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  • 1 month later...

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