Mortgage Calculator UK Rates and Expat Mortgages for British Expats in Australia

Mortgage Calculator UK Rates and Expat Mortgages for British Expats in Australia

Australia remains the top destination for British expats and according to the most recent figures it accommodates over 1,062,000, a staggering 251,000 of which are pensioners. This equates to nearly 5% of the population.

The majority have not completely severed all ties with the UK and many continue to maintain property back home. A growing number are looking for expat buy to let remortgages or want to purchase a property for investment, perhaps to use if they return. As an expat mortgage specialist, we can assist and offer mortgages in London and throughout the whole of the UK.

Typically, we deal with clients who are either self employed or employed by Australian or multinational companies. They approach us seeking comprehensive panel UK expat mortgage advice or wish to use our online mortgage calculator UK rate tables. They tend to generally work out of the major centres such as Sydney, Melbourne, Brisbane, Perth and Adelaide but we do obtain enquiries from the smaller cities including Canberra, Newcastle and Cairns.

We regularly assist those on work and ancestry visas and also those who have obtained full Australian citizenship. As the UK expat mortgages specialist, we are comprehensive panel and arrange refinance on all types of property. We can also help with new purchases for those seeking expat mortgages in Australia and are seeing an increase in applicants who are self employed. They seek mortgages for expats UK-wide and have usually entered Australia on an entrepreneurial visa. We are able to help, even when they are using a local Australian accountant for their bookkeeping.  

A number of clients we deal with regularly tell us of the difficulties they have faced in the current climate. They may have been to other expat mortgage brokers and banks before speaking with us and are initially frustrated with the limited help on offer. They may have been promised a product but this has not materialised or the interest rates on an expat mortgage comes in far higher than expected. If the length of time outside of the United Kingdom has been greater than one year, there is the added complication of getting an applicant to score up when using expat mortgage UK lender’s automated score systems.

The added issues around proofs of address and identification of people living abroad, has resulted in a number of providers simply withdrawing from the market.

Mortgages for expatriates clearly remain challenging, but there still exists some highly competitive mortgage UK expat deals as can be seen from our Uk mortgage calculator and rates.

Whilst mainstream lenders such as the Lloyds Group have pulled out of the market, as international mortgage brokers, we have a number of banks and building societies who have taken their place. Some of these specialist lenders have been in operation for over 140 years and are well established with full regulatory systems and Financial Conduct Authority permissions. Importantly, they can offer mortgages for expats buy to let, residential and investment homes.

We can organise finance on both a repayment basis or if you prefer, arrange a mortgage interest only. Expats can choose to suit their needs.

UK mortgage lenders will assist clients, despite salary or income not being paid in British pounds. However, the loan will need to be paid in the usual way via a direct debit through an Australian standard bank account.  Australian dollars are acceptable and will be converted into sterling to facilitate the loan. Expats will need to arrange for payments to be made each month to the lender.

The existence of foreign income does cause some difficulty but UK mortgage providers are usually more reluctant to assist ex pats due to their non-UK tax payer status. This is simply because domestic banks are more able to verify income with UK tax authorities and the inability to do this with Australian residents is often cited as the main reason for restricting lending to this country.  

The situation is however, further complicated by the existence of the Australian Corporation Compliance Act 2001 which prevents foreign financial Institutions, which are located outside of Australia to open financial products for Australian residents.

We deal with a number of expats in Australia but we appreciate, they do face their own unique challenges. Across a comprehensive panel of lenders there are now only a handful of UK lenders willing to provide finance to those living and working in Australia. Our expert mortgage advisers will offer help and assistance to ensure the highest prospect of success with your mortgage application.

As mortgage intermediaries in London, we are comprehensive panel brokers, specialising in this area.  We have access to private banks and bespoke expat mortgage rates from lenders who offer exclusive residential and expat buy to let remortgages and deals.

For information on our range of products and services, contact our UK ex pat mortgages team today.

How to get in touch

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Selected Expat and Offshore Worker Mortgages

A selection of some of our lenders mortgage products and rates are shown below. Contact us for a quote specific to your circumstances. Table data updated 11/04/2016.

CodeIntial
Rate
Mortgage
Type
For /
Until
Subsequent
Rate
APRCEarly
Repayment
Charge
Fixed Lender
Fees
% Lender
Fees
Notes

001

**SEMI-EXCLUSIVE**

3.69%

Discount

30/06/2018 6.10% 6.10% 3% in year 1, then 2% in year 2 £1999

None

Maximum 75% LTV

Buy to Let 

Repayment or Interest Only

Free Standard Valuation.

002 **SEMI EXCLUSIVE**

 

3.79% Discount

30/06/2018

5.95% 5.95% 3% in year 1, then 2% in year 2 £998 None

Max 80% LTV

Expat Residential

 

003

 

1.69% Discount 30/06/2018 5.95% 5.28% 1% until 30/06/2018 £199 None

Residential to 80% LTV

Free Standard Valuation.

Either: immediately returning to the UK or UK resident and Expat Joint Application.

004

**SEMI EXCLUSIVE**

4.09% Fixed 30/06/2018 5.95% 5.95% 3% in year 1, then 2% in year 2 £998 None

Max 80% LTV

Expat Residential

005

**SEMI EXCLUSIVE**

4.49% Variable Lifetime 4.49% 4.5% 2% in year 1 & 2 None 1% (min £995)

Max 70% Buy to Let & Holiday Let