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Expat mortgages: investing in the UK property market

Written by Ipswich Building Society

16 Jul 2018


Expat, Mortgage Advice

3 min read

If you’re a British expat living and working overseas, you may be considering investing in property back home in the UK and renting this out for a monthly rental income. But it’s important to understand not just the benefits, but also the risks of purchasing and renting property while abroad.

Expats often command higher incomes than their counterparts based at home1, and so may have more disposable income when it comes to making investment decisions. An expat mortgage could be used for simply renting out an existing family home while working abroad, rather than selling it, or purchasing a residential property to be used as a primary residence when returning home to the UK. 

There are often complications surrounding mortgage lending to expats due to the nature of the applicant. There are restrictions on some countries, and you may find that attempting to purchase property in the UK while resident in a high-risk country or jurisdiction may be impossible. Mortgage providers will often impose higher interest rates than those offered domestically due to the increased risk and extra work involved in lending to an overseas resident, and things can get even more complicated if you’re not paid in Sterling (£).

Sounds like a lot of hassle, right? Of course, there is a degree of work involved and you should expect to jump through more hoops than you would expect if you were applying for a mortgage at home. But you shouldn’t be put off – at Ipswich Building Society we’re committed to making the process easier than ever. Our Mortgage Consultants are on hand to offer you expert advice and guidance and will be with you every step of the way – even if you’re not on the same soil!

So, whether you are looking for a Buy to Let option to generate rental income, or simply keeping a nest warm for when you return home, Ipswich Building Society can help you achieve your goals.

Click here for more information on our mortgages for expats.

1 The Guardian

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – find out more.

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