Ask the Specialist

Capital Fortune are asked to help clients on a daily basis, whether it be with a new purchase, remortgage, buy to let or something more unusual. We typically help clients with non-standard, unusual or complex situations and have created this section to allow you to ask our team of specialists any question you may have. Feel free to browse the list of questions and responses. Please note we provide information only in response to the questions posed and not advice. If you do seek advice then feel free to speak to one of our Advisers by calling 0207 710 0400 or send us an enquiry online and one of our Advisers will call you back.

Can We Remortgage if Living Abroad?

on 24 February 2014.

My family and I have recently emigrated.

We own a house and are currently renting it out via an estate agent. The house is valued at approximately 550k, the mortgage is 130k. We are currently on a variable rate with a leading building society but would like a fixed rate mortgage for between 3 - 5 years. The building society we are with do not have package that suit our needs.

My question is, can we remortgage if we are living abroad?


Ask the Specialist response:

Thanks for sending in the query.

We do help clients who have emigrated and are looking to remortgage their existing property. They may be looking to remortgage for a wide variety of reasons such as obtaining a better deal or releasing equity for home improvements or purchase of another property.

From the query it would appear that you are looking for a fixed rate for a period of time so you have some certainty on mortgage payments and are able to budget effectively.

Although there are fewer lenders than a couple of years ago providing expat mortgages, there are a number we work with that maybe able to assist on a fixed rate basis.

If you are renting the property, you would have to have at least 25% equity in order to switch the mortgage to a fixed rate expat buy to let scheme.

Additionally, you may find that the country in which you now live may restrict the lenders available to you - for instance quite a few lenders will not consider expats in Australia.

To obtain an indication on a fixed mortgage rate you can either check our selection of expat mortgage rates or alternatively I'd recommend speaking to one of our Advisers on +44 203 216 2037 or send us an enquiry online.

David Rostron MEng(Hons) CeMAP CeRER
Business Manager