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Types of Expat Mortgages...

You have a variety of expat mortgages to choose from. Your first decision is between either an interest only mortgage or a repayment mortgage.

Interest only mortgages.

With an interest only mortgage, you pay, as the name suggests, the interest only to your mortgage lender every month. The outstanding loan remains the same throughout the life of the mortgage so it’s important that you put enough money aside to ensure you can pay off the mortgage when it’s due to be repaid, such as after 25 years.

However, your monthly payments to the lender are lower than with a repayment mortgage as you’re only paying interest.

Repayment mortgages.

Every month your payment to the mortgage lender covers all of the interest and part of the capital. This means your outstanding mortgage balance reduces every year.

Your monthly payments to the lender are higher than with an interest only mortgage. This is the safest option - as long as you make your monthly payments your mortgage is guaranteed to be paid off at the end.

Next, choose your Interest Rate Options.

 
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    Magazine editor living and working in New York borrowed £600,000 on £950,000 property for future residence – property let out with lenders approval

  •  

    Miss G
    Living & working in UAE (out of UK more than 5 yrs) paid in UAE AED
    Teacher
    Purchase £75k & mortgage £56.25K
    Fixed rate for 2 yrs 4.69%

  •  

    Self-Employed plumber living in Australia bought £325,000 property with a £200,000 mortgage – property to be rented out with the lenders permission until purchaser returns to the UK at retirement.

  •  

    Mr & Mrs H
    Living & working in Brazil (out of UK for more than 5yrs) paid in Brazilian Real
    Accountant
    Purchase £ 1,055,000 mortgage £700k
    Fixed rate 3.5% for 2 years

  •  

    European Union employee residing and working in Brussels bought on normal residential scheme with permission to let for 5 years from lender at 75% loan to value.

  •  

    Mrs C
    Living & working USA (out of UK nearly 2 years) paid in US$
    Manager
    Remortgage property value£430k & mortgage £250k (capital raising £69k to purchase another property)
    Fixed rate for 2 years 4.09%

  •  

    Airline pilot and partner, working in Abu Dhabi, looking to buy in the UK, initially to rent out, with a long term aim of returning to live in the property,  mortgage arranged at 75% loan to value at a very competitive residential interest rate, with permission to let for three years arranged with the lender.

  •  

    Geologist living and working in Australia, looking to return home.  Buying at £265,000 but needed a very quick turnaround.  Loan of £165,000 offered in 12 days and completed in 19 days. Client was looking to buy a UK property prior to selling their Australian Home.

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