I am an expat, can I get a Buy to Let mortgage?
A question we are asked on numerous occasions here at Just Mortgage Brokers is, “I am an expat, can I get a buy to let mortgage?”
Sadly, there is rarely a simple and swift yes or no answer, as although the number of lenders in this sector is still relatively small, each comes with its own set of rules and criteria. This means that although one may not be able to assist, others may have a different view resulting in you being able to qualify.
Where you live may have an impact, with some lenders being much more restrictive in the countries they will consider and some of the more popular such as Australia, New Zealand and the USA being those they will not entertain.
How your income is generated could also be a factor i.e. are you employed or self-employed, are you paid in sterling or an alternative currency plus also your longer term intentions with the property you are looking to purchase i.e. is it to be your own residence when or if you look to return to the UK.
Many questions therefore need to be answered and it may feel like a box ticking exercise to see if you fulfil a certain lender’s set of criteria. It can certainly be a time consuming one if you are not familiar with the basics. We recommend you contact a Mortgage Adviser familiar with this sector, such as our expat brokers at Just Mortgage Brokers, who can guide and assist you in checking all the relevant elements of differing criteria and establish if you qualify.