Can foreign nationals and expats get a UK mortgage?

The short answer: yes. You do not need to live in the UK, or hold a British passport, to get a UK mortgage. Many high street lenders are cautious, but private banks and specialist lenders lend to expats and foreign nationals every day. The keys are a well evidenced income, a sensible deposit and a lender matched to your country, currency and circumstances.

Owning UK property while living or earning abroad is common among our clients. Here are the questions we are asked most often.

Who can get a UK mortgage from overseas?

Lenders regularly consider:

• British expats living and working abroad who want a UK home or investment property.
• Foreign nationals living in the UK, on a visa or with settled or pre-settled status.
• Foreign nationals living overseas buying a UK home, a base for family, or a buy-to-let.
• UK residents paid in a foreign currency, for example by an overseas employer.

Each group is assessed differently, so the right lender for one may not suit another.

What do lenders look at?

Most lenders focus on five things:

• Country of residence. Some countries are straightforward, others are restricted. Lenders also consider international sanctions and money laundering risk.
• Income and currency. Lenders usually apply a reduction, or haircut, to foreign currency income to allow for exchange rate movement. Major currencies such as US dollars, euros and dirhams are widely accepted.
• Employment. A stable role with a recognised employer helps. Self-employed income from abroad is possible but needs more evidence.
• Source of deposit. You will need to show where the money came from and how it reached the UK.
• Credit history. If you have no UK credit footprint, lenders may rely on overseas credit reports or bank statements instead.

How much deposit will I need?

It depends on your profile. As a guide, expats with a UK connection can often borrow up to around 75% to 85% of the property value. Foreign nationals living overseas typically need a larger deposit, often 25% or more. Private banks may lend more where there are significant wider assets. Buy-to-let usually requires at least 25%.

Can I borrow on income paid in another currency?

Yes. The lender will convert your income to sterling and usually reduce it by a set percentage to allow for currency risk. Some lenders also stress test the exchange rate on the loan itself if the loan is not in your earning currency. Private banks tend to take a more considered view, especially where income and assets are spread across several currencies. We cover this in more detail in how private banks assess income in more than one currency.

Is the rate higher for non-residents?

Sometimes, but not always by much. Rates reflect the lender’s appetite for your country, currency and loan size. With the right lender and a clean, well presented case, terms are often better than borrowers expect. Larger loans for high net worth clients can be priced very competitively through private banks.

What documents will I need?

• Passport and proof of overseas address.
• Visa or residency documents where relevant.
• Payslips, an employment contract or accounts, plus bank statements showing income received.
• Evidence of deposit and its source.
• Overseas credit report, if available.
• Tax returns in your country of residence for self-employed or complex income.

Documents in another language may need a certified translation. Preparing this upfront saves weeks.

How we help

We match your profile to lenders that actively want your business, and present the case so it reads as strong, not complicated. Our international mortgages service covers expats, foreign nationals and non-residents, as well as UK clients buying abroad. If your income or wealth is substantial, our high net worth team can also introduce private banks. Speak to us to talk through your situation.

Frequently asked questions

This article is general information, not advice. Your home may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Some buy-to-let mortgages are not regulated by the Financial Conduct Authority.