UK Buy To Let Mortgages for Overseas Residents

Are you an expat or non-UK citizen looking to remortgage or purchase a Buy To Let property in the UK whilst resident overseas?

If you are seeking to purchase or refinance an investment property, perhaps as part of your pension planning, then Skipton International could help. With UK housing demonstrating long-term price inflation, purchasing a property whilst living abroad often makes financial sense.

Skipton International is a leading Guernsey bank, and a subsidiary of Skipton Building Society. We are one of the Channel Islands’ favourite lenders and serve savings customers resident in more than 100 countries around the world.

Skipton International prides itself on fast processing times and an understanding of the needs of expatriates and people from across the world. We offer a very personal service from experienced staff who will guide you through the house purchasing process.

UK Mortgage Leaflet.

Obtaining a UK Buy To Let Mortgage as an expat or non-UK citizen isn’t always easy, but if you’re currently living outside of the UK, want to refinance or purchase a UK Buy To Let investment and can say YES to all the following questions, then we would love to talk with you about your requirements:

• Are you and the joint applicant (if applicable) citizens of counties not on Skipton International's restricted country list?

• Are you and the joint applicant (if applicable) resident outside of the UK and will continue to be so at the time the mortgage completes? 

• Do you want to buy in England, Scotland, Wales or the Channel Islands?*

• Is the property for buy-to-let purposes only and not for you or a family member to live in, or to support a property purchase for a UK resident?

• Can you confirm that you do NOT plan to live in the property in the future?

• Are you looking to borrow between £100k and £3 million? The maximum lending amount for any individual, together with connected persons is £3 million.

• The type of property you’re looking to purchase is not on our ‘unacceptable properties’* list, please refer to page 5 on our UK Buy To Let Mortgage Leaflet. ?

• Are you or the joint applicant employed by a clearly identifiable well established employer? 

• Is your earned income (not including commission, overtime or bonuses) or pension income over £40,000 per annum or the equivalent of £50,000 per annum if paid in local currency? Certain guaranteed allowances may contribute towards this figure. Any probationary period must be passed prior to applying. Any earned income cannot be subject to UK income tax.

• If self employed, can you provide evidence that annual income is in excess of £60,000 per annum sterling / or equivalent of £75,000 per annum if earned in local currency, and confirmed by one of Skipton’s accountancy firms?  Any earned income cannot be subject to UK income tax.

• Can you provide 3 months of payslips and a letter from your employer confirming main terms of employment or pension contract.  All must be translated to English

• Can you provide 3 months bank statements for all accounts held including the account into which your salary/pension is paid?

• Do you have a UK bank or building society account from which direct debits can be arranged to pay your mortgage?

• Will the property be let on a suitable Assured Shorthold Tenancy agreement (or a Private Residential Tenancy Agreement if in Scotland) and not used as a holiday let, House in Multiple Occupancy or bedsit?  Please refer to our Property Letting Requirements document for England and Wales or Scotland for further information.

• If you currently own other properties which are mortgaged, can you provide 12 months of mortgage statements for each property?

• Can you provide 5 years of consecutive address history and your last UK address?

• Have you never been declared bankrupt, insolvent, or equivalent or no such action is pending?

• Can you confirm that you have never entered into any arrangement with creditors or are party to a voluntary arrangement?

• Can you confirm that you have not had a Court Order (or equivalent) made against you for debt or that no such action is pending? If Court Order is satisfied, please contact us as we maybe able to assist.

• Can you confirm that you have not (voluntary or otherwise) had a property repossessed by a lender or entered into an arrangement for mortgage arrears?

• Are you currently living or working in a country which does not appear on our restricted list?

• Has the property been owned by the existing owner for a minimum of 6 months (this applies to purchase/ remortgages and further borrowing)?  This does not apply to inherited property.

If you can answer “yes” to all of the above and you would like a remortgage or mortgage on a property with a maximum loan to value of 75% , which you want to rent out, the next step is to complete our UK Buy To Let Mortgage Calculator or call one of our helpful team members. 

If you have any questions please call + 44 (0) 1481 730 730

Telephone lines are open Monday - Friday from 8:30am to 5:30pm UK time.


* Please note Skipton International does not lend on properties located in Northern Ireland, Isle of Man or the islands of Scotland.

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