Can I get finance to buy a property in the UK from overseas?

A question we get asked frequently by our investors is whether they can get finance to buy a property in the UK from overseas.

Mortgages are available for clients overseas, however, the loan may vary. Typically, individuals who are employed or have been self-employed for 3 years or more should have no difficulty obtaining a mortgage.

Getting a mortgage can be slightly more challenging for certain countries and to counter this banks may ask for a slightly higher deposit. For example, banks might ask for a 30-40% deposit whereas the typical buy-to-let mortgage requires a 25-30% deposit.

High street banks and building societies in the UK typically only lend to permanent residents in the United Kingdom. Nevertheless, there are a range of private banks who offer much more flexible lending criteria, perfect for foreign nationals residing outside of the UK.

Private banks are usually only available via intermediaries, so if you are a foreign national interested in a buy-to-let mortgage on a UK property, you’ll be required to get in touch with a finance broker. Beech Holdings have reputable finance brokers we can put you in touch with to guide you through the process easily.

One of our reputable Mortgage Brokers, Ansar Afsar said: “Mortgages in the UK are available to clients overseas and this is something we are able to assist with as we typically work with smaller building societies and private banks who are willing to offer ex-pat mortgages at competitive rates and can complete within the timescale pressures you may be under.” – Ansar Afsar, We Know Mortgages Ltd

Not only are private banks willing to lend to non-UK residents, but they are also open to offering greater levels of funding than the majority of high street banks. Depending on your circumstances, private banks may allow you to borrow substantially more, which is great if you’re interested in investing in high-quality rental properties in prime locations.

Private lenders also tend to be more generous than high street lenders as they look at your whole income, inclusive of other investments, stocks and shares which contribute towards your affordability check.

Looking for a buy-to-let investment in the UK?

We have a number of high-end apartments available for investment in Manchester City Centre, the UK’s buy-to-let hotspot.

Combining high-quality contemporary finishes and cutting-edge low-carbon technologies, Beech Holdings’ developments are in huge demand from both tenants and investors.

We’re in the process of constructing several new residential developments. One of these buildings is located in the much sought-after Ancoats area, Ancoats Gardens is a luxury residential development with two roof gardens, 155 high-spec apartments, an exclusive on-site gym, coffee roastery and shared social space for tenants.

If you're recently regarded by The Times as one of the top 20 coolest places to live in the UK, increasing rental demand in the area, making it a lucrative choice for potential investors.

If you’re interested in investing in our Ancoats Gardens development or want to find out about any of our other developments, get in touch today.

Explore our other areas which include: Ancoats, City Border, City Centre, Northern Quarter, Princess Street, Salford Quays, Spinningfields, and Trafford.