Foreign currency income and expat mortgage Q&A

Intermediary news

  • Matthew Long

    Intermediary Sales Manager

If you have clients who are paid in a foreign currency and looking to get a mortgage in the UK or an expat client looking to buy in the UK before they return to live here, we can consider their applications.

Not all lenders can provide products to help, but we are experienced and flexible in our lending in foreign currency incomes and expat mortgages. 

Here, our Intermediary Sales Manager, Matt Long answers some frequently asked questions about this type of lending. If you have a question to ask, please contact us and we’ll answer it by return!

  • What is the criteria for an expat mortgage with NBS? 

    We can look at expat mortgages in two ways. Either as an expat BTL or as an expat residential. 

    For an expat BTL we can consider a British national who lives and works abroad and wants to purchase or remortgage a property on a BTL basis. The max LTV is 60% and we can consider top-slicing through the client’s personal income (if it is in a currency we accept) should there be a short fall in the ICR. 

    For an expat residential we can consider a residential loan where the main earner works abroad, but has immediate family domiciled in the UK and reside in the property. If the main earner abroad is earning in an accepted currency (details in our criteria section), we can do a straight conversion to Sterling using today’s rate for affordability. The max LTV is 75%. 

  • Which of your products are available for a BTL for an expat?

    We have two products Expat Buy to Let and Ltd Company Buy to Let, which can be found here.

  • My client is an expat and wants to remortgage his residential property is this possible? 

    Yes, see above.

  • What products does my client qualify for ex-pat residential?

    We use our competitive products from our “Made to Measure” range. 

    If you have a question regarding foreign currency or ex-pat mortgages which still needs answering, please contact us today and ask us!