Non-Resident Mortgage UK
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Meet the Author
James Bull
Non-Resident Mortgage UK
Buying a property in the UK while you live and work abroad can raise a lot of questions, but our team at JB Mortgages is here to help. Whether you are an expat with a British passport or a non-resident looking to buy, we can guide you through your options and make the process straightforward.
To help you understand how everything works, James Bull has answered some common questions our clients ask us. You will learn about the deposit amounts you might need, how lenders view overseas income, the choices available if you plan to move back or let the property out, and why you should speak to an accountant for tax advice.
Can you get a UK mortgage if you live and work abroad but want to buy property in the UK?
You can absolutely do that and this generally falls into two main categories.
The first category is for people with a British passport who just live abroad. This is known as an expat mortgage, and it is something that we can help with.
The second category is for people who do not have a British passport but still want to buy in the UK. That is a different type of mortgage, but we can help with those as well.
What is the difference between an expat mortgage and a non-resident mortgage?
An expat mortgage is for people with a British passport who live abroad. If you live abroad and do not have a British passport but want to buy in the UK, you need a different type of mortgage. Lenders apply different rules to each, including how they view overseas income, so the right route depends on your passport status.
What deposit do non-resident buyers typically need compared to someone living in the UK?
The answer depends on your circumstances and what you plan to use the property for. If you want to let the property out, you typically need a 25% deposit.
If the property is for related family members to live there, smaller deposits are available. The best thing to do is contact us so we can give you personalised advice based on your circumstances.
Do UK lenders accept overseas income and employment for a non-resident mortgage?
UK lenders are certainly open to accepting overseas income and employment. The specific criteria depend on whether you hold a British passport as an expat or if you are non-British, as different rules apply to each situation.
Because of these differing requirements, the best approach is to contact us directly. We can then review your individual circumstances and provide personalised advice.
Are non-resident mortgages limited to Buy to Let, or can you get one for a home you plan to live in later?
Non-resident mortgages are not just limited to Buy to Let at all. We often see a situation where a husband works abroad and the wife is still at home.
Someone might also work abroad currently and plan to return to the UK in the future. For situations like that, we have products available to meet those needs.
| Planned use | Available? | Deposit guide |
|---|---|---|
| Letting the property out (Buy to Let) | Yes | Typically 25% |
| A home for family members | Yes | Smaller deposits may be available |
| A home to live in when you return | Yes | Depends on your circumstances |
Every lender has its own criteria and rules differ for British and non-British passport holders, so your position may differ. Your home may be repossessed if you do not keep up with your mortgage repayments. The FCA does not regulate most Buy to Let mortgages.
Can we get a mortgage if one partner works abroad and the other lives in the UK?
Yes, this is a common situation. Some households have one partner working abroad while the other stays in the UK, and products are available for this. Lenders are open to overseas income, but the criteria depend on passport status and circumstances, so personalised advice is the best starting point.
What are the main tax implications for non-residents buying UK property with a mortgage?
As mortgage brokers, we are not qualified to give tax advice. We only provide advice regarding actually getting the mortgage and the criteria surrounding this.
If you are looking for tax advice, we always recommend going to an accountant. You should speak to them for professional tax advice.
Summary
Living and working abroad does not stop you from buying property in the UK, whether you hold a British passport or not. Our team at JB Mortgages can help you find the right mortgage option for your situation, including Buy to Let properties, homes for family members, or places you plan to live in when you return.
While overseas income is accepted by lenders, the rules and required deposits can vary depending on your personal circumstances and passport status. Because of this, we recommend getting in touch with our advisers so we can guide you through the process and help you find a suitable product.
Key Points
- You can get a UK mortgage if you live abroad, whether you are a British expat or a non-British citizen.
- Buy to Let properties typically require a 25% deposit, but smaller deposits may be available if family members are living in the home.
- UK lenders accept overseas income and employment, though specific rules depend on your passport and background.
- Non-resident mortgages are available for more than just Buy to Let, including homes for returning workers or families.
- We do not provide tax advice, so we always recommend speaking to your accountant for tax guidance.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE MOST BUY TO LET MORTGAGES.
FOR SPECIALIST TAX ADVICE, PLEASE REFER TO AN ACCOUNTANT OR TAX SPECIALIST.
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