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Our son is an Ex-Pat, can he get a mortgage in the UK?

Posted on 15 May 2013 by Ian & Joanna


Our son is an Ex-Pat, can he get a mortgage in the UK?

Advice please - Son working in Qatar on a salary of £50k – seems impossible for him to get a mortgage to buy a home in this country. We are looking at a house £182k – need to borrow circa £85k. Wife and I have £450k house – no mortgage – I am 71 on a pension of £20k, my wife is 61 earning £30k.  Is the best option for us i) to raise a separate mortgage in our names ii) raise a mortgage on our house for our son to use to buy the new house without a mortgage. It all seems very complex – and we don’t know the best way forward. Ian and Joanna Panton

Ian and Joanna,

Getting a mortgage for an Ex-Pat isn't the easiest scenario, however it's certainly not impossible. There are lenders who would look at the situation you  have outlined, however they don't tend to be the well known household names. Many of the smaller building socities will consider cases such as your son's, particularly as it's such a good loan to value.

We can also explore the option of raising a mortgage of your property, but initially I don't think we necessarily need to.

If you'd like to talk through your enquiry in more detail, then please let me know and I'll arrange a convenient time for one of our consultants to contact you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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