What is the most unusual Expat, foreign national mortgage enquiry you have ever had?

Unusual Expat Mortgage enquiries

Love this question.. I get lots of different scenarios being an Expat mortgage advisor for UK and Overseas property.

Ok let me think… So I had an enquiry from a Pakistani National (living in France, Eu right to reside) he owned a couple of UK properties held in an offshore ltd company in Channel Islands. Properties worth around £2 Mil 

He wanted to refinance and release some capital to purchase a property in South of Spain near Marbella, topped up by a Spanish Euro mortgage.  So this was a Foreign currency purchase with 100% finance. 

I was able to source an offshore lender, who would consider UK property and release 50% loan against value this was £1Mil and covert to euros with a 60% loan against the Spanish property of €1.67Mil

Total; 

• Cap Raise €1.17M + Spain Lending €1Mil   total €2.17M  to include purchase costs at 15% 
• Property purchase in Spain of €1.67M.   

Simon Murphy is an International Mortgage Broker who resides between Spain | Ireland | UK

Having been in finance for over 17 years & as a Qualified & FCA Regulated UK mortgage professional he can give expert mortgage advice to Expats Worldwide, UK residents & those considering buying abroad with a foreign currency mortgage. Unusual Expat Mortgage enquiries

Remortgaging a UK property for Expats

I’m a UK expat residing in Europe / Dubai / Australia and I still own property in the UK. Is it possible to remortgage to release funds or to get a better mortgage rate?

The simple answer is yes.. However there are very few lenders who will permit this, and most are not your usual high street banks, that’s why you may find it difficult to obtain with normal search software or standard mortgage brokers. 

Additionally some lenders that accept expat mortgages, only work with Specialist Mortgage Brokers, because more skilled advice is required. So even if you found a bank that does it, they may not permit you to apply, unless you use a mortgage broker.Remortgaging a UK property for Expats

A good example of this type of lender is Vida .. Vida ‘who’ you say !..  Vida are a specialist lender and only work with more skilled mortgage brokers. Vida don’t have any branches and everything is handled online including Expat mortgages. 

So the good news is Expats have more options to remortgage than compared to a few years back, but it is recommended to use a mortgage broker skilled in aspects of Offshore | Foreign Income and Expat borrowing – Happy to assist any enquiries www.mymortgagedeal.co.uk/expats   0044 7456 727 626 

Simon Murphy is an International Mortgage Broker who resides between Spain | Ireland | UK

Having been in finance for over 17 years & as a Qualified & FCA Regulated UK mortgage professional he can give expert mortgage advice to Expats Worldwide, UK residents & those considering buying abroad with a foreign currency mortgage.