Sourcing an Expat Mortgage for a Complex Income Earner Relocating Back to UK

At Diamond Property Finance, we specialise in addressing the unique challenges faced by expatriates purchasing properties in the UK. A recent case involved a client from the Middle East who aimed to secure a property in Surrey for almost £900,000 ahead of their return to the UK, despite being four months away from ending their overseas employment.

Case Profile:

The client was nearing the conclusion of their contract abroad and had secured a new job in the UK, which would start upon their return. However, securing a mortgage presented significant hurdles without any current UK-based employment or payslips to provide as proof of income. The primary challenges were the client’s current residency and salary currency and the absence of conventional income evidence except for a signed contract for impending employment.

Solution:

Understanding the complexities of this scenario, we engaged with multiple onshore and offshore lenders experienced in handling mortgages for expatriates and foreign incomes. Direct discussions with underwriters were pivotal, as we arranged enhanced documentation to build a robust wealth profile for the client. Our comprehensive application detailed the client’s financial status, projected income, and timelines, ensuring lenders had a clear understanding of the unique circumstances.

We successfully partnered with a lender to provide a 75% loan-to-value (LTV) mortgage on a full repayment basis spread over 38 years. Utilising our strong industry relationships, we negotiated a two-year fixed-rate mortgage with a UK-based lender who was willing to accommodate the client’s imminent relocation, a common obstacle in expatriate financing.