Foreign currency income and expat mortgage Q&A

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 Senior BDM, 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 resi 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, 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 one specific product for a expat BTL product with a flat fee! Full details here.

My client wants a mortgage for a holiday home as an expat, can you help?

Yes, we can consider an expat for a holiday home mortgage. The max LTV is 60% and the property must be located in a suitable holiday location.

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

Yes, see above.

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

*all figures and data correct as of October 2019

Matthew Long Senior Business Development Manager

Matthew develops and manages a network of mortgage introducer relationships.

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