UK Ex Pat Mortgages for British Expats in Dubai

UK Ex Pat Mortgages for British Expats in Dubai

British nationals seeking expat mortgages in Dubai to either purchase or re-mortgage a property here in the UK regularly tell us they face a number of difficulties securing finance. The use of foreign income by way of dirhams, employment with a company outside the jurisdiction or the use of a local Dubai accountant for the self employed are just some of the challenges we hear when clients call our UK expat mortgage advice line.

When you add to the mix that few UK lenders from a comprehensive panel of lenders, offer ex pat deals and those that do, require some form of long established UK credit history in order to assess the case, we appreciate that the issues can become problematic.

As mortgage intermediaries in London we are international mortgage brokers, based in the heart of the capital. Our City location, close to the Bank of England, gives us access to a number of banks and private lenders offering competitive deals and a range of expat mortgage rates.

Over recent years, it is widely known that UK lenders have pulled out offering mortgages for expatriates and those that recently entered advertising exclusive UK expat mortgages have significantly reduced their deals. Lloyds was historically the traditional player to any expat mortgage specialist but they have recently withdrawn their mortgage products to British citizens abroad. This caused other mainstream lenders previously offering mortgages for expats UK-wide to follow suit.

Dubai remains one of the top 5 UK expat destinations and the good news is that across a comprehensive panel of lenders, there remain a select number of highly competitive deals still available to those living in the Emirates.

Our London team, successfully assist both first time and next time buyers resident in Dubai who are non-UK tax payers. They are usually looking for a repayment or a mortgage interest only. Expats often want to buy or remortgage a residential home they will return to at some time in the future or are looking to purchase or re-finance an investment property for buy to let or even holiday let purposes. They often approach us having spoken to other expat mortgage brokers or banks and are initially frustrated and disappointed that they have not been successful in obtaining a mortgage. Sometimes, they are angry that they have made a full application only to be declined at underwriting stage for the actual mortgage.

Expats want us to get it right be it for a home loan on an existing residential property already owned or on one they wish to buy. Alternatively they may make contact with an investment property requiring an expat buy to let mortgage.

We regularly obtain mortgages for expats for clients working throughout the UAE and it is a common location for Brits working abroad. A decision in principle is typically secured within 24 hours and we regularly obtain a mortgage offer within 15-20 business days, having received all your supporting paperwork. We successfully offer these mortgages in London and across the UK.

Our mortgage lenders have no requirement for an immediate return and so long as an ultimate return back to the UK will take place, we can successfully place these on either a residential deal or a standard expat buy to let mortgage. We have no maximum loan restrictions but our minimum loan is £50,000 for any expat mortgage UK-wide. Our expat buy to let remortgages are available in England, Scotland and Wales but they are not currently available in Northern Ireland.

We generally assist individuals working in the oil and gas industry, construction, financial services, recruitment and those working for Government and non-Government organisations throughout Dubai. However, we can also consider other industries for those requiring mortgages. UK expat occupations are becoming more varied and regardless of employment we can normally request the lender to take an holistic approach.

There is no requirement to have a UK bank account and a lack of credit with UK credit agencies can be overcome for the right type of client.

As a comprehensive panel of lenders specialist mortgage broker, we have access to premier underwriters at both the High Street and private banks, building societies and smaller specialist lenders allowing UAE residents. Dubai is one of the most common destinations we deal with internationally for a range of residential and expat buy to let mortgages.

For more information on our British ex pat mortgages contact our team in 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 26/07/2017.

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

001

1.99%

Fixed

30/09/2019 4.59% 4.70% 2% in year 1, then 1% in year 2 £995

None

Expat Buy to Let to75% LTV

Repayment or Interest Only

Expat and UK Resident Joint Application.

002 **SEMI EXCLUSIVE**

 

3.19% Discount

31/12/2019

5.70% 5.70% 3% in year 1, then 2% in year 2 £0 0.75%

Expat Residential to 80% LTV

Second Home or UK Base

003

 

1.69% Discount 31/07/2019 5.70% 5.70% 1% until 31/07/2019 £199 None

Expat Residential to 75% LTV

Free Standard Valuation.

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

004

**SEMI EXCLUSIVE**

2.89% Discount 2 Years 5.70% 5.70% 3% in year 1, then 2% in year 2 £0 0.75%

Expat Buy to Let

Max 50%-75% LTV (product dependant)

First Time Buyers / Pure Expat Applicants Considered

005

1.24% Fixed 30/11/2019 3.75% 3.75% 2% in year 1 & 2 £995 None

Expat Residential

Max 60% to 90% LTV (product dependant)

UK resident and Expat Joint Application

006

**SEMI EXCLUSIVE**

 2.80% Discount  2 Years  5.29%  5.29%  2% in year 1, then1% in year 2  £995  None 

Expat Holiday Let

Max 60% - 75% LTV (product dependant) 

007  3.60% Fixed 31/08/2019  4.00%  4.00%  2% in year 1,then 1% in year 2  None  1% 

Expat Buy to Let

Max 65% - 75% LTV (product dependant)

Personal income used (not based on rental income)