Expatriate Mortgage Application Guide
A Step by Step Guide to applying for Expatriate Mortgages
1. Check eligibility
Can you answer Yes to all the questions on our Expatriate Mortgage page?
We require one of the Expatriate applicants to be a British Citizen and also that you are not resident in one of the countries that we do not support
Skipton provides expatriate mortgages secured on properties located in England, Wales, Guernsey and Jersey. Unfortunately, we do not at this time support properties in Scotland or Northern Ireland.
Check your property rental yield is sufficient to support an expatriate mortgage. Skipton has a handy expatriate mortgage calculator to estimate the size of offshore mortgage that might be available to you.
2. Complete your application
Print Skipton’s Expatriate Mortgages Application Pack and fully complete. Please remember to read the Declaration section carefully and to sign the form where requested (including the Direct Debit form).
3. Gather supporting documentation
Supporting documentation is important, clearly you would not lend to someone whose identity, address and income, etc. you could not prove and neither will Skipton. Therefore please ensure that all supporting documentation is provided as requested in the Expatriate Mortgages Application Pack. Having each of your identity documents properly certified by a competent individual is essential.
4. Application Fee
Don’t forget to transfer the Expatriate Mortgage Application Fee, processing of your application will not commence until this is received.
5. Post your completed Expatriate Mortgage application and supporting documentation to Skipton
Please ensure that you have all your documentation in one envelop when you post to Skipton at:-
Skipton International Limited, P.O.Box 509, Tudor House, The Bordage, St Peter Port, Guernsey, GY1 6DS, GREAT BRITAIN.
What happens once I have applied?
1. Skipton receives and processes your application
Depending upon where you live it could take a few days for your Expatriate Mortgage application to reach us in Guernsey. However, we endeavour to process most applications within two working days of receipt.
Provided your application is complete and meets our criteria we will then instruct a mortgage valuation. Sometimes we may request missing or additional information, therefore for your application to be quickly processed it is important that it is fully completed and all requested supporting documentation is included. Unfortunately in some cases we decline applications prior to valuation, whereupon your Application Fee will be refunded.
2. A Mortgage Valuation is instructed
Skipton operates a panel of approved RICS (Royal Institution of Chartered Surveyors) qualified surveyors across the United Kingdom, from which we will select one local to your property. As you will have already paid the Expatriate Mortgage Application Fee, which includes the costs of a Standard Mortgage Valuation, we will NOT be requesting separate payment.
Should you require a Home Buyer or other more comprehensive survey these may be requested via Skipton at an additional charge dependent upon the property.
Once the valuation is completed Skipton will review to ensure that the property is indeed sound security without material defects and that the independent survey confirms the sales and rental valuations. Should there be an issue or concern Skipton will liaise with you to determine your preferred approach. In rare occurrences Skipton may decline an application at this point where the property is not considered sound security. Otherwise Skipton will forward you an expatriate mortgage offer.
3. Skipton Makes an Expatriate Mortgage Offer
You will receive the expatriate mortgage offer by email. Please ensure that you read the Expatriate Mortgage Offer Letter thoroughly. You will be committing to the repayment of a significant sum and there may be early redemption clauses or conditions on the mortgage, etc., that you need to understand and be comfortable with.
If you wish to proceed please fully sign the Expatriate Mortgage Offer Letter (for joint applications both parties must sign), scan and return (email is fine). Once the signed Expatriate Mortgage Offer Letter has been received and checked Skipton will instruct solicitors.
4. Instructing Solicitors
Skipton uses a company called Conveyancing Direct for all of our UK Expatriate Remortgage and House Purchase conveyances. Again, as you have paid an application fee Skipton will not be requesting further funds from you to cover the costs of Skipton's conveyance. The cost of your legal advice is your responsibility.
When remortgaging your property there is no requirement to instruct your own solicitor.
For House Purchases you MUST instruct solicitors to act on your behalf. You are of course at liberty to instruct any solicitor, however, Conveyancing Direct does offer Skipton clients a competitive rate and whilst your and our interests are represented separately it often can be more efficient and timely to use a common firm. Conveyancing Direct may be contacted via their Business Development Manager Daniel Baker on +44 (0)1424 464937, or by email at firstname.lastname@example.org.
5. Completion of the mortgage
In order to complete a House Purchase please remember to have your Buildings Insurance arranged in good time, as this can sometimes be a cause for delay.