You can buy in the UK from Hong Kong or Singapore with a UK mortgage, and both are places UK lenders know well. Finance professionals, business owners and families planning a move all borrow this way. The questions are which lenders take your currency, how they treat bonus-heavy pay, and how much deposit you’ll need.
Which lenders will consider me?
Most high street banks won’t lend to non-UK residents. Private banks and specialist lenders will, and several have teams set up for Asia-based clients. Your nationality, residence and currency all narrow or widen the list, which is why matching you to the right lender matters more than chasing the lowest headline rate.
How do lenders treat HKD and SGD income?
Most apply a haircut to foreign currency income to cover exchange rate risk. A salary of HKD 2,400,000 assessed at an 80% rate counts as HKD 1,920,000 before conversion to sterling. The haircut varies by lender and currency.
Bonuses are the bigger issue for many of our Asia-based clients. A banker on a modest base and a large variable award needs a lender that will count the bonus, usually averaged over two or three years. Our article on borrowing on bonus, RSUs and carried interest covers how that works.
How much deposit should I plan for?
Around 25% is a common starting point for non-residents with specialist lenders. Larger loans and buy-to-let can need more. Private banks may offer better terms if you hold investments with them.
Lenders will also check where the deposit comes from. Savings, a property sale or a gift from family can all work, as long as there’s a clear paper trail.
What if I’m moving to the UK on a BN(O) visa?
Some lenders consider BN(O) visa holders, especially once you have a UK job and are living here. Criteria differ on how long you’ve been in the UK and how long is left on your visa. If you’re planning the move, we can tell you what’s possible before you arrive and what changes once you’re settled.
What about stamp duty?
Non-UK residents buying in England or Northern Ireland pay a 2% surcharge on top of the normal rates. Our guide to stamp duty for non-UK residents explains when it applies and when it can be reclaimed.
How do we work with clients in Asia?
By video call and phone, early in your morning or late in ours. We gather your documents once, package the case and deal with the lender, valuer and solicitor for you. See our international mortgages page, or start with the international mortgage application.
Frequently asked questions
Can I buy a UK property for my child studying in London?
Do I need to visit the UK to complete?
Can I borrow in a currency other than sterling?
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.
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