Are you an expat planning to move back to the UK?

If so, you may be wondering if you can still get a mortgage. The good news is that it is possible, but there are a few things you need to know.

There can be a number of reasons for working overseas, including secondment with your current employer or exploring new opportunities. This can provide a great opportunity to build wealth and experience new cultures. Often there is still a long-term desire to live in the UK, either on a permanent or semi-permanent basis. If you were to speak to most lenders, they would struggle to understand your situation and be unable to correctly advise you.

Mortgage brokers have access to a wider range of lenders than you would find on your own. They can also help you understand the different types of mortgages available and find the one that best suits your needs. At Orton, we have significant experience in advising clients who are working overseas or have recently relocated back. We are able to help you improve your credit profile and work with select high street lenders, using our established relationships in order to obtain your mortgage offer.

At Orton, we can help you get the mortgage you need to buy the home of your dreams.

There are a number of factors that can improve your application, including:

• Existing UK accounts, such as a current account or credit card
• Working for an internationally recognised firm
• Transfer of employment to the UK
• Good credit history prior to living/ working overseas

Existing UK accounts

if you had any accounts in the UK before you moved overseas, even if they were just current accounts, we can find them and use them to support your mortgage application. By linking you to your previous credit history, lenders are more comfortable offering you a mortgage. This is because any debts or bad credit in the UK would also be associated with your credit profile once located.

If you have any accounts open in the UK and you’re not sure how to use them for your mortgage application, we can advise you.

Working for an internationally recognised firm

If you work for a recognsed firm and are relocating to the UK or returning from secondment, we can help you with your transition and obtain a new residential mortgage. We can arrange finance within three months of your return date to the UK. If you are unfamiliar with the local market and would prefer to move into rented or short-term accommodation before making an offer on a property.

Transfer of employment back to the UK

If you are transferring employment back to the UK, we can help you with your transition and obtain a new residential mortgage. We have previously helped clients who have relocated to the UK to open a new office for their employer, even if there is no direct commercial history for the company in the UK. The only restriction is that you must be starting your new job in the UK within three months of applying for a mortgage.

Good credit history prior to leaving the UK

If you lived in the UK at any point in the last 6 years, lenders will take your credit history into account when considering your mortgage application. If you have a history of late payments or defaults, this will make it more difficult to get a mortgage. If you have no negative history, this will make it easier to get a mortgage. Even if you have little credit data, having no negative history is still viewed favourably by lenders.

New employment in the UK

If you are moving to the UK in order to start a new role we can still assist with your finance requirements. With most positions we can apply from the start of your new employment. Exceptions can be made depending on your previous employment history and sector.

How we have helped a client relocate back to the UK

Our client, a non-UK national, was working for a well-known accountancy firm and was in secondment in Europe. The secondment was nearing an end and they were looking to relocate back to their home base of Bristol.

They had been working outside of the UK for over a year and they were residing in the UK on a spousal VISA. This type of application can present unique challenges as a non-UK national will typically have less credit history in the UK. Most lenders will also require a non-UK national to be in the UK in order to apply for a residential mortgage.

Our client had agreed to purchase a well presented townhouse for £1.25m and they wanted to obtain a mortgage of 75% Loan to Value (LTV), or £937,500.

They had previously spoken to other brokers and been informed they would need to use non-standard lenders who specialise in foreign national lending. These banks can typically be from 2-3 times the cost of a highstreet loan.

Using our established relationship and understanding of lending requirements we were able to arrange the loan the client required with a highstreet lender. This saved considerable time and expense on their purchase. It also means that they do not need to engage a costly refinance in the future, as they are already with a competitive lender.

If you are considering a move to the UK and wanted to discuss your options. Contact Orton Financial today

We have a team of experienced mortgage brokers who can help you to find the best mortgage deal for your needs. We understand the challenges that non-UK nationals face when applying for a mortgage and we are committed to helping you get the best possible deal.

Contact us today to arrange a free consultation.