I am a returning Ex-Pat but been told that most mortgage lenders won't touch me due to not being UK resident. What can I do?

Posted on 3 July 2013 by Stephen

I am returning to the UK having been expatriated for the last two years. I have been told that most mortgage lenders will not touch me due to not being UK resident, despite the fact I have been paying two UK mortgages the whole time I have been away. I want to a) buy a new house and b) raise money on my two current properties but it seems this has to go on hold. What do you advise?

Whilst it's not true that most lenders would have an issue with you having been an ex-pat for the past 3 years, most of the major high street lenders would do. However there are many smaller, lesser known lenders who are quite happy to look at returning ex-pats.

Although many lenders base their decisions purely on credit score, there are still a good number in the market who manually underwrite, which means they can look at a case and judge it on its individual merits, and it's more likely to be one of these that we would be looking to.

We would need to know a lot more information surrounding your personal financial situation, before being able to say anything more specific, but I would be disappointed if we couldn't assist you.

I think it would certainly be worth having a discussion with one of our consultants to see exactly what your options would be. Please let me know when would be best for and I'll arrange for one of them to contact you.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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