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UK mortgages and buy to let mortgages for Hong Kong residents

Buying a house in the UK when you live in Hong Kong?

If you live in Hong Kong and would like a UK mortgage to buy property in the UK, most likely for a UK buy to let property, we can help.

We can offer mortgages to Hong Kong residents for new homes or buy to let flats and houses – whether you hold a full UK passport, a BNO passport or a local Hong Kong resident’s identity card.

If you just wanted the option of moving family to the UK and you buy a house using a buy to let loan,  you can usually do this, certainly in the short-term. The most important thing is that the mortgage repayments are always kept up to date and the lender is made aware. Some expats do this – they buy while abroad working, then move back into the UK and back into the house as a stop gap.

It will almost certainly be in your interest to convert the loan to a self-use home loan if the move is permanent, but the loan will need to be approved (underwritten) again. Main home loans require you to have an established UK income and a UK credit record, so careful planning will be needed, but it would normally be acceptable to live in the house while your new loan applicatin was processed, provided this has been agreed with the lender.

UK Buy to let mortgages are simple to arrange for Hong Kong residents, so here are some quick tips that will help guide you.

  • You will need a deposit of at least 25% of the purchase price. Lower mortgage rates are available, if you have a 35% or higher deposit.
  • Be careful when you choose the property type – we can finance new build houses and flats, but existing traditional houses may be easier, such as a terraced or semi-detached house. It is often a good idea to check a building can be mortgaged, before making an offer
  • You will need to know the potential monthly rental income from your UK buy to let – this can be found online through one of the property portals such as Rightmove or Zoopla or Onthemarket – just look for a similar property under the rental section of the site
  • You usually need to be salaried to apply for a mortgage or have a pension income. If you are self-employed, you will need at least three years of accounts.
  • Some lenders state a minimum buy to let mortgage amount for buyers from Hong Kong of £100,000. We can offer mortgages below this amount, but interest rates tend to be slightly higher

To apply for a UK mortgage if you live in Hong Kong, click below…


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