Client
An expat teacher who has worked in Thailand for more than six years for a UK-based company, applying jointly with her husband, who works for a major holiday booking company and has been with them for more than five years. Together they came to us for an expat buy-to-let mortgage.
Background
The clients had been saving from their income and had built a healthy deposit, and had found a buy-to-let property well suited to the rental returns they were looking to achieve. After an initial conversation looking at their criteria and country of residence, it was clear the case would be challenging, as some lenders operate a restrictive list of countries they will lend to, and Thailand isn’t covered by every expat-friendly lender.
Requirement
- Purchase a UK buy-to-let property suited to strong rental returns
- Put down a 30% deposit
- Work with a lender comfortable with Thailand as a country of residence
- Lock in a competitive rate quickly given the volatile mortgage market
Challenges
Many international lenders are keen to lend to expat clients, but a lot of them restrict their market depending on the countries they support, and Thailand sits outside several lenders’ standard lists. On top of this, lender interest rates had been changing frequently in the current volatile market, mostly on an upward trajectory, so any delay in placing the case risked leaving the clients with a worse deal.
Solution
As a whole-of-market specialist expat mortgage broker, we initially considered a high street lender that lends to expats through its international business arm. However, due to its restrictive country list, we looked at our wider panel of whole-of-market specialist lenders instead. The lender we selected was not only able to provide the clients with an expat mortgage, but the whole process was quick and seamless, and we were able to lock in the product the same day.
Outcome
The clients secured their expat buy-to-let mortgage with the rate locked in on the same day it was identified, protecting them from further rate increases while the case was placed. For an idea of what you could borrow in a similar scenario, our expat mortgage calculator gives an instant estimate.
Summary
Many international lenders are keen to lend to expat clients, but a lot of them restrict their market depending on the countries they support. The speed and expertise of service we provide in this market can mean we source the best products for our clients before there is any active movement in rates – browse our other expat mortgage case studies for similar examples.
Key Point
Key things to consider:
- Not every lender accepts every country of residence, so check this early.
- A healthy deposit can strengthen your position when the lender pool is already narrow.
- In a volatile rate market, speed of placement can be as valuable as the rate itself.
Frequently Asked Questions
Can expats living in Thailand get a UK buy-to-let mortgage?
Yes, some lenders will consider Thailand-based applicants.
It comes down to finding a lender whose country list covers Thailand, since not every expat-friendly lender does.
Why do some lenders restrict which countries they'll lend to?
It’s part of their risk and compliance criteria.
Lenders assess factors like regulatory environment and ease of income verification when deciding which countries to support.
How quickly can an expat buy-to-let rate be locked in?
With the right case prepared, a rate can sometimes be secured the same day it’s identified.
This is particularly valuable in a volatile market where rates are moving frequently.
Does a larger deposit help when a lender's country list is restrictive?
Yes, a healthy deposit can strengthen an application.
It can help offset the narrower lender pool that comes with certain countries of residence.
If you have any questions relating to an expat buy to let mortgage, contact us today to speak directly with one of our CeMAP certified Mortgage Advisors.
Expat Mortgages UK is a specialist broker directly authorised and regulated by the Financial Conduct Authority. We work exclusively with expats and foreign nationals buying UK property with overseas income. Your home may be repossessed if you do not keep up repayments on your mortgage.
Call: +44 1494 622 555 Email: info@expatmortgages-uk.com
Related Pages
- UK mortgages for expats in Thailand – How lenders assess applications from expats based in Thailand.
- expat mortgage application guide – The documents, timeline, and steps involved in getting an expat mortgage approved.
- currency haircuts explained – Why lenders discount foreign-currency income and how it affects borrowing.
- expat mortgage income requirements – The income evidence expat lenders typically expect.
- expat mortgage case studies – Real examples of expat and foreign national UK mortgage completions.