Re mo as an Expat

[PaddyHorsington]

Hi there, hoping someone can help me with the following.

 

I have been offered a job in Thai land and i'm conscious of the following:

 

1. All of my properties are coming upto requiring remortgaging next year (I have 3). All of them have 25% deposit- 75% loan. Will there be issues remortgaging with this LTV whilst i'm based abroad?

 

2. Also I would like to buy property when i'm abroad. What LTV are likely to be required as an Expat? What interest rates will I be looking at?

 

Thanks in advance. 

[Wesley Davidson]

Hello,

 

It depends on who you will be working for. If it is an international company that would be ideal. expat lenders will lend to 75% and all have different criteria, best to chat it through with a broker. You are welcome to get in touch and I can give you some advice.

 

Thanks,

Wesley.

 

 

[Orla Shevlin]

Hello, 

 

When it comes to remortgaging as an expat in terms of lenders available this will be very much dependent on the rent your getting from your buy to let properties and the income your receiving in your new job role. 

 

Lenders will make a full affordability assessment based on your outgoings in Thailand (i.e rent which i assume will be minimal) and stress test your current rental properties. 

 

The new role you have taken on will be assessed, as a lender will need to establish how stable this job role is, such as if its in the same line of work you have been in for a number of years. 

 

For your new property purchase the majority of expat lenders are now looking for around a 30% deposit - assuming this is also going to be a buy to let property rental income will be a key factor in lending. 

 

Hope that has been of help - obviously can't give firm figures without knowing the numbers. 

 

Kind regards, 

 

Orla - AS - Financial

 

[PaddyHorsington]

Thank you for this Orla. Really interesting. I can work with 30%. Do I need a specialist mortgage broker as an expat? 

 

 

[Orla Shevlin]

That's ok. 

 

You will need a mortgage broker that has previous experience with expat lenders. 

 

I am more than happy to discuss please see my companies website; as-financial.com

 

Kind regards, 

 

Orla

[PaulDeehan]

Hi Fir,

 

I work abroad and I'm put in the ex pat bracket too for investing in the UK, I pay 30% deposits on my BTL's, I go through a mortgage broker. There with Mortgage works, I got a deal for 5 year fixed @ 3.14% 

 

Just to give you some numbers to work with. 

 

Kind Regards

 

Paul

[PaddyHorsington]

Thanks for the responses. I will certainly have a look at your companies website Orla, not quite ready to do anything yet, but will be soon.

[Philip Wright]

Hi Fir Tree - have a look at Skipton International Building Society - Expat Mortgages - we now have 5 BTL mortgages with them and found them to be very helpful.

 

I have just had a quick look on their website and Thailand is not on their list of countries they will not accept applications from.

 

Good luck

[Ivan J]

Hi everyone,

 

Are any of the expats here buying in the UK through a limited company?

 

If so, could you let me know who you are borrowing with? Any recommendations of brokers would be great too. 

 

Thanks

[Marius H]

On 2/3/2017 at 1:14 PM, philip wright said:

Hi Fir Tree - have a look at Skipton International Building Society - Expat Mortgages - we now have 5 BTL mortgages with them and found them to be very helpful.

 

I have just had a quick look on their website and Thailand is not on their list of countries they will not accept applications from.

 

Good luck

 

This is a great tip. It's great to have further options when the next remortgage comes up, and they look pretty reasonable.

[Ivan J]

I have spoken to Skiptons before, but only when buying personally. I don't think they do BTL mortgages for Ltd companies, but will take a look. 

[Paterson00]

Hi there, 

 

I am an expat living in Australia and am struggling to find anyone who will touch me for a re-mortgage / equity release.  It isn't a huge issue now as I am on a good deal but I would like very much to release equity to buy another investment property and it seems that Australia is on the naughty list for some reason.  Very frustrating as the property is currently only about 55% LTV so I have a good amount there I can tap if I could only find a lender.

Best of luck with the move.

 

Paulpaterson78@hotmail.co.uk if anyone knows a solution to my problem.

 

Thanks