There will be many British Expats residing in Spain who are looking to purchase properties in the UK for a variety of reasons, and you may need to obtain a mortgage to do so.
There will be many British Expats residing in Spain who are looking to purchase properties in the UK for a variety of reasons, and you may need to obtain a mortgage to do so.
The usual process of obtaining a mortgage may be a more timely and complex process for Expats residing abroad compared with individuals who live in the UK. When it comes to granting Expat Mortgages, different Lenders will have different lending criteria, so it is important to conduct thorough research if you are looking to gain mortgage finance as an Expat.
In recent years, Lenders have provided more options for Expats and there are some Lenders who specialise in providing these types of mortgages. However, you may be required to offer more than the usual 10% amount for a deposit when you are purchasing. This will be a factor you consider before going forward with a property purchase, as you may be required to offer more of your own money.
It is therefore important to make sure that you consult with your mortgage broker on the variety of options that are available to you and ensure you consider these before moving forward with a planned purchase.
Please note that this guide is provided by Nockolds Solicitors Limited. Although Nockolds Lawyers Spain S.L. is a subsidiary company of Nockolds Solicitors Limited, it is not authorised or regulated by the Solicitors Regulation Authority.
For further information, please contact us on (+34) 951 552 254 or complete an online enquiry form, and a member of the team will be in touch.