ExPat Mortgages
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Have a look at ex-pat mortgages in Hong Kong or Singapore, as deposits will generally be lower. Spoken to a few in EK who have done this when buying back in the UK as an ex-pat and it seems to be more competitive than getting a mortgage done in the UK.
Australian mortgages
For Aussies buying homes in Australia, big banks like Westpac in Singapore used to loan up to 70% of purchase priced/refinance in the currency of your choice with that country's interest rate.
I.e. Using USD, the interest rate was 2.2%
I.e. Using USD, the interest rate was 2.2%
Last edited by Flingwing47; 24th Apr 2016 at 19:02.
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The new rules from the " council for mortgage lenders" meant that from 21st March it is not possible to get a UK mortgage if your salary is not paid in UK pounds. This has even impacted the euro earning guys. Some lenders are taking applications but they tend to be a road to nowhere..
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The new rules from the " council for mortgage lenders" meant that from 21st March it is not possible to get a UK mortgage if your salary is not paid in UK pounds. This has even impacted the euro earning guys. Some lenders are taking applications but they tend to be a road to nowhere..
DIRECTOR
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Avenger
I got a mortgage in Singapore Dollars from Lloyds in Singapore to buy a flat in London in Pounds for my son and daughter. My salary was in Singapore Dollars so no problem.
Surely the answer is to get the mortgage in the currency your salary is in based on the exchange rate at the time. I left Singapore whilst mortgage was running but paid it off a few years later but the exchange rate at the time was in my favour but it could have been to my detriment if I had left it a year or so later.
I got a mortgage in Singapore Dollars from Lloyds in Singapore to buy a flat in London in Pounds for my son and daughter. My salary was in Singapore Dollars so no problem.
Surely the answer is to get the mortgage in the currency your salary is in based on the exchange rate at the time. I left Singapore whilst mortgage was running but paid it off a few years later but the exchange rate at the time was in my favour but it could have been to my detriment if I had left it a year or so later.
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As I said earlier, if you are looking to buy in the UK then have a look at mortgages outside of the UK that are specifically designed for UK expats buying back in the UK.
Not trying to sell anything but only passing on an idea, after being told about it by colleagues who have been thorough the process already. I was told that deposits can be noticeably more competitive than going through lenders in the UK.
Not trying to sell anything but only passing on an idea, after being told about it by colleagues who have been thorough the process already. I was told that deposits can be noticeably more competitive than going through lenders in the UK.
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However, all that was unnecessary as once I applied online through HSBC UK I found out that having a UK bank account meant that I actually didn't need an expat Premier account to get a UK mortgage, and the max LTV was actually 90% (although I still put 25% deposit in). The rate with the Premier status was a very good tracker at 1.69 above base (if you're planning to pay off quickly and don't need a long-term fixed rate). No other banks could match that at the time.
Worked for me, but I guess it depends on who you already bank with in the UK. I think you need to have 60k held in some form with the HSBC UK to be eligible for Premier status though, so might be worth transferring your savings into your UK account if the exchange rates suits. This also means that your UAE HSBC account automatically becomes Premier (global system) which would normally require a lot more money held here in UAE - a great advantage as the perks of a Premier account in the UAE can be fantastic. At one time you could use your Premier credit card for a free helicopter flight from the Atlantis hotel to the airport! Not sure if that deal still stands but it's a fancy perk to try at least once if you get the chance!
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PS also be aware that after Brexit the UK government is likely to come hunting for a bigger contribution from expats living tax-free. It's inevitable - the money isn't there to pay for the social reforms.
With that in mind be careful how many ties to the UK you might be creating as it may invalidate your future non-resident status. Especially if the family decide to move home. I think as it stands now someone in that situation would only be allowed about 23 days in the UK per year before being classed as residential - and a layover would be interpreted as 2 of those days.
Food for thought. Challenging times ahead.
With that in mind be careful how many ties to the UK you might be creating as it may invalidate your future non-resident status. Especially if the family decide to move home. I think as it stands now someone in that situation would only be allowed about 23 days in the UK per year before being classed as residential - and a layover would be interpreted as 2 of those days.
Food for thought. Challenging times ahead.
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PS also be aware that after Brexit the UK government is likely to come hunting for a bigger contribution from expats living tax-free. It's inevitable - the money isn't there to pay for the social reforms.
With that in mind be careful how many ties to the UK you might be creating as it may invalidate your future non-resident status. Especially if the family decide to move home. I think as it stands now someone in that situation would only be allowed about 23 days in the UK per year before being classed as residential - and a layover would be interpreted as 2 of those days.
Food for thought. Challenging times ahead.
With that in mind be careful how many ties to the UK you might be creating as it may invalidate your future non-resident status. Especially if the family decide to move home. I think as it stands now someone in that situation would only be allowed about 23 days in the UK per year before being classed as residential - and a layover would be interpreted as 2 of those days.
Food for thought. Challenging times ahead.
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PS also be aware that after Brexit the UK government is likely to come hunting for a bigger contribution from expats living tax-free. It's inevitable - the money isn't there to pay for the social reforms.