How a UK Expat Mortgage or Remortgage Works

How does my mortgage work, if I am not living in the UK?

Wondering how an international UK expat mortgage works? International mortgage brokers Offshoreonline explain:

Expat mortgages and remortgages in the UK generally take 4 to 8 weeks to arrange, but it may take longer to complete on a sale, as the work of conveyancing solicitors cannot always be predicted easily.

If you need help finding a conveyancing solicitor who has worked with expats, please contact us. We link to a third party panel of solicitors, all of whom have been carefully selected and confirmed that they have good experience of working with expats.

We also link to solicitors who can carry out the conveyancing work for Sharia compliant mortgages for expat home buyers and remortgages.

Expat remortgages

If your current fixed or discounted rate mortgage is coming to the end of its term or you have moved aboard and want to change your mortgage to an expat buy to let mortgage, i.e. one that allows you to rent the house out while you are living abroad, the remortgage process, even though you are living abroad, is normally straightforward and can be completed in 4 to 6 weeks from receipt of your full application.

Expat remortgage to release equity

If you are considering putting down roots and buying a new home abroad by releasing capital from a UK home, we can help too.

Or you may just want to release equity from an existing UK house you own to start tor add to a UK buy to let portfolio as part of your pension planning

Need to refurbish a kitchen or add aloft room, or simply redecorate after tenants have moved out? Again, we can help. Ask us how to release equity or capital from your house to pay for building works.

Expat mortgages – the fees

As well as your lender fees, you will sometimes have you pay legal and valuation fees as well. Some lenders offer discounted rates for valuation, e.g. free valuations on properties valued up to £500,000, above that the client pays a small top up, whilst others offer cashbacks. Typically, cashbacks are offed for expat remortgages, not expat mortgage purchases.

Expat mortgage conveyancing

If you are taking out an expat mortgage to buy a new property, you will need a conveyancing solicitor. We offer a link to a third party panel of expat conveyancing solicitors – all the firms are familiar with expat house purchases and expat mortgage procedures, so will understand difficulties of time zones and working with clients overseas. Please click here for details.

Offshoreonline has been serving expatriates an online expat mortgage broker for over 25 years, so we understand the difficulties expatriates face trying to find a UK mortgage. Our panel of mortgage lenders includes both banks and building societies, all of whom are experienced and offer a range of UK expat mortgages specifically for expat property investors. We pride ourselves on our service levels and we can normally give expat customers an indicative opinion within 24 hours.

Our aim is to ensure you receive your expat mortgage offer quickly and effectively. Our expat mortgage application process is simple and easy to follow, even if this is the first time you have bought a house.

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