I want to buy a house in the UK but I work for an overseas company and don't pay tax in the UK can I get a mortgage?
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justastarr
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
it is possible, but not easy.
you'll need at least a 25% deposit and most high street lenders wont accept this type of business.
i would strongly suggest you contact a local IFA to assist you but not all can give advice to overseas clients and so it might need to wait until you are on UK soil. As there will be more work involved than on a typical mortgage you should expect to pay a fee for the work undertaken.
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you'll need at least a 25% deposit and most high street lenders wont accept this type of business.
i would strongly suggest you contact a local IFA to assist you but not all can give advice to overseas clients and so it might need to wait until you are on UK soil. As there will be more work involved than on a typical mortgage you should expect to pay a fee for the work undertaken.
rmurdison
answered 1 year ago
I agree with the above, whilst I used to be able to place these fairly readily if there was a 25% deposit, the mortgage was large enough and there was some independent professional third party who could be contacted to confirm income, nowadays there are a number of FSA constraints which mean compliance departments run for the hills when these arise.
Another possibility is to buy the property as a buy-to-let which isn't FSA regulated however you need to be aware that you would still need at least a 25% deposit & that both interest rates and arrangement fees are higher tha or residential mortgages
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Another possibility is to buy the property as a buy-to-let which isn't FSA regulated however you need to be aware that you would still need at least a 25% deposit & that both interest rates and arrangement fees are higher tha or residential mortgages
Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
The likelyhood is "not likely". I have looked generically on my research system and I cannot find any lenders who will take non-UK earnings. As mentioned, you would be best to speak to a UK based Financial Adviser and they will try and find a deal which suits
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