The Society will provide Ex-Pat mortgages on the following basis:

• Foreign Currency – Income (where some or all of the borrower’s income is denominated in a foreign currency and they live/work outside of the UK)
• Foreign Currency – Repayment Strategy (where the borrower will repay part or all of a mortgage which is partially or wholly conducted on an Interest Only basis, utilising monies or other assets which are denominated in a foreign currency e.g. the sale of a foreign holiday home and they live/work outside of the UK)

General

• The maximum loan to value is 85% for residential and 80% for Buy-to-Let when products allow.

Applicant Details

• Applicants must be UK citizens who are temporarily resident abroad
• For residential properties, it must be the customer’s intention to return back to the UK with this property being their main residence and / or their immediate family must reside in the property
• Lending can only be secured upon property in England and Wales. 
• Mortgage payments must be paid via direct debit from a UK bank account

Affordability

Income will be assessed on the following basis:

• If an applicant is paid in foreign currency, the exchange rate that will be applied is that at lowest point over the last three years from the date of assessment
• The Society places no restrictions on the foreign currency being utilised, so long as the currency does not fall within any territories subject to financial sanctions or FATF counter measures
• The Society can accept income from one foreign currency plus income derived in GBP

Additional Requirements

We would also expect the customer to provide:

• 3 months of bank statements for any non-UK account held that is deemed to their main account, e.g. the customers have main UK account, but also get paid into a foreign account and manage foreign commitments whilst abroad
• Clarification of the customer commitments whilst abroad, e.g. regular expenses or credit commitments that are not cover by the applicant's employers

All supporting documents must be translated (where deemed necessary) by the applicant before submission