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If you’ve just started a new job… 

Your expat application may be declined by the lender if they are cautious that you’ve only just started your job. Your ability to repay will be judged on your long-term employment and being on probation in your new role will go against you.  

Ensure that you secure your expat Agreement in Principle… 

If you’re looking at renting your property out, then you need to secure an Expat mortgage first. Whilst buy-to-let properties or Houses in Multiple Occupation (HMO) can be good investment opportunities, they are also viewed as high risks by lenders – meaning you could pay higher monthly payments.  

An Agreement in Principle (AIP) helps you ascertain what you can afford to borrow and understand the restrictions on property types and rental income which all affect your borrowing limit.  

Interest rates… 
 
Despite the headline rates in the UK, most expats won’t be able to utilise the usual rates. It’s likely that you’ll have to use a specialist lender to get your expat mortgage, which usually go on their own rates rather than following something like the Bank of England Bank Rate. 

Don’t manipulate your application… 

The expat mortgage market is becoming increasingly tighter regulated and hard evidence will be required to support your application.  
 
If you try and adapt your application because you think you know what the lender’s requirements are, then it’s only going end up going badly for you as they will find out.  

Speak to a broker… 

Expat mortgages have a cloud of misinformation around them. With such a bespoke sector of the market, it’s important to seek advice from an expert who has access to a wide range of lenders.  

For advice on getting an expat mortgage, speak to one of our expert advisers who will be able to help you with the next steps.