Published 15 May 2018 · Last reviewed 1 May 2026
Ex Pat mortgage – buy to let or second home solutions
The Ex Pat mortgage products often evoke a plethora of questions so I have picked on some of the more regular ones and provided a frequently asked questions summary before which will hopefully aid you if are looking to remortgage in the UK.
Q: What is a definition of an Ex Pat mortgage?
A: The standard lending position is a British National that is now living abroad. However, there are Mortgage Lenders that may also include European Nationals who lived and worked in the UK for a while before moving back abroad.
Q: Are you able to stay in the property when you visit the UK?
A: It will depend on the Mortgage Lender but normally there will be a limit to less than half the year.
Q: What happens if my base is outside of the Europe?
A: Sanctioned countries are usually not allowed but there are Mortgage Lenders to cater for the rest of world.
Q: What happens if I’m paid in a different currency?
A: The Mortgage Lender will use a currency exchange factor tool. In addition they will have a buffer in their affordability assessment to allow for fluctuations. This margin is may be smaller for EU Nationals.
Q: Are there Ex Pat mortgage lenders for applicants who work for small employers?
A: Ideally, the Mortgage Lender would prefer you to be employed by a Corporation with branches in different countries including the UK. However, smaller employers without a UK presence will be considered.
Q: Are there Ex Pat mortgage lenders for applicants who are self-employed?
A: In terms of Self Employed or Contractors Accounts will be needed for at least the last 2 years. The Accountant normally must have international acclaim and qualifications. Exceptions may be possible if a large UK Chartered or Certified accountancy firm is willing to audit and approve them.
Q: How can I prove where I live as my employed pays for my accommodation?
A: The Mortgage Lender will typically ask for postal bank or credit card statements showing your current address if utility bills are not available. A Drivers licence may also be requested. Ultimately, if no documentation is available to evidence your address then a letter from your employer (if they are large international firm) may suffice.
To authenticate documents Mortgage Lenders will ask either a Notary, Mortgage Broker or Solicitor to provide certification that they seen the original.
Q: What is the minimum deposit you need for an Ex Pat mortgage?
A: This is typically 25% to 30%.
Q: Are the Ex Pat mortgage rates higher than standard ones?
A: Yes, there is a margin for the additional risk. That said there are an increasing number of Mortgage Lenders in this space which forces them to be competitive.
Q: How can I work out how much I can borrow on an Ex Pat buy-to-let?
A: If the property is to be let the rental coverage assessment is typically 145% @ 5.50%. However, there are Mortgage Lenders that will allow less and also factor in surplus earned income.
Q: How can I work out how much I can borrow on second home in the UK?
A: As a guide the borrowing would be limited to 4 times income to cover the combined mortgage balances of all residentials.