Ex Pat mortgages

Posted on 2 December 2010 by Adam Cohen

I am a british expat living in France with no immediate plans to return to the UK. I have UK property with 100% ownership (no mortgage), which I have always let out.

If I need to free up some of the capital without selling the property, what are my options?

Could I (re)mortgage part of the property's value to free up cash?

What % of the property value could I free up in this way?

What kind of mortgage would I have access to (residential vs offshore vs buy to let etc)?


You will almost certainly be able to obtain a mortgage on this property and release some of the capital. This will depend on your own personal circumstances, the reason for the capital raising and the property itself.

The type of mortgage you will be able to get will most likely be a buy to let, either through an Onshore or Offshore Lender. As you are not intending to return to the UK anytime soon, I think it is more likely to be an Offshore Lender. All the main UK banks have operations in either the Isle of Mann or the Channel Islands and will typically lend up to 70% of the property value.

I recommend that you speak to an independent mortgage broker with experience of arranging Offshore mortgages and who can guide you through the choices of loan type, currency choice and rates.





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