A British expat residing in the Middle East wanted to raise capital for property investment, namely to purchase a family home in Surrey, ahead of their return to the UK. We helped them secure a 75% LTV mortgage utilising a new UK employment contract, despite having no current UK payslips.
The Challenge
The client faced several critical obstacles in securing the desired borrowing:
- Lack of UK Income Evidence: The client was four months away from finishing their overseas contract and lacked current UK payslips.
- Overseas Currency & Residency: The client’s salary was in a foreign currency from the Middle East, which mainstream UK lenders often decline.
- Imminent Relocation: Transitioning between overseas and UK employment created uncertainty for standard underwriters.
The Strategy
To structure a deal that met the client’s needs, we leveraged our network of specialist onshore and offshore lenders:
- Specialist Lender Alignment: We approached lenders experienced in handling complex expat profiles and foreign currency incomes.
- Enhanced Documentation: We presented the client’s comprehensive wealth profile, impending UK employment contract, and projected income to senior underwriters.
- Mortgage Structure: We secured a full repayment mortgage spread over a 38-year term and negotiated a two-year fixed rate, which kept initial payments affordable during the relocation period.
The Results
- Property Value: Almost £900,000
- Loan-to-Value (LTV): 75%
- Term: 38 years
- Mortgage Structure: Full repayment mortgage (2-year fixed rate)
- Key Outcome: The client successfully secured the property in Surrey before their return to the UK, ensuring a smooth transition for their family.
Why This Matters
Expat financing doesn’t have to be a barrier when returning to the UK. By working with specialist lenders who look beyond standard payslips, returning professionals can access a high LTV mortgage or raise capital for property investment without delaying their relocation plans.
Speak to a Specialist
Ready to explore your options for an expat or foreign currency mortgage? Book a consultation with our team today.