Client
Our client is a UK expat living in Hong Kong, earning in HKD with a strong employment record. No active UK credit facilities and no current UK mortgage.
Requirement
Purchase of a £450,000 holiday-let property in England.
Client contribution: 35% deposit (£157,500).
Required borrowing: £292,500 (65% LTV).
Challenges
- Income earned and taxed overseas.
- Foreign currency income (HKD).
- Property intended for short-term holiday-let, not standard AST letting.
- Limited UK credit activity due to long-term non-residency.
- Need for lenders willing to accept overseas documentation and projected holiday-let income.
Work
We analysed lenders with:
- Full acceptance for a UK mortgage expat based in Hong Kong.
- Verified foreign currency income conversion and assessment procedures.
- Holiday-let-specific criteria and stress-testing models.
- Sensible underwriting for non-resident clients with minimal UK credit depth.
We prepared a full lender-ready package including:
- Employment verification from Hong Kong.
- HKD–GBP income conversion with supporting documentation.
- Independent holiday-let rental projections for affordability.
- Evidence of previous UK property ownership and conduct.
Result
We sourced and secured a specialist expat lender who approved the case at 65% LTV, fully accepting:
- Foreign currency income.
- Expat status.
- Holiday-let use.
The British expat mortgage successfully completed without any additional conditions, allowing the purchase to complete as planned to the delight of our client.
Summary
This was a straightforward and simple mortgage application for our expat client with overseas income wishing to purchase a new holiday-let property in the UK. Even though there weren’t many lenders to choose from, the case was quickly secured by matching the client’s profile with a lender who had worked with non-resident UK applicants and short-term rental properties before.
If you have any questions relating to a Expat Buy to Let Mortgage, contact us today to speak directly with one of our CeMAP certified Mortgage Advisors.
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