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.

My wife and I moved abroad and are now looking for a UK base for holidays - is this possible?

on 04 March 2014.

Good morning.

I've experienced significant difficulty looking for the right mortgage, as I'm looking to take out a residential mortgage in the UK, however my family and I live in Singapore.

We moved out of the UK 5 years ago and sold our house shortly after. We return to see family most school holidays and are getting frustrated staying with friends or paying for expensive hotels. Although I've seen buy to let options, would it be possible to take out a mortgage just to use on our holidays? Eventually we would like to live in the property full-time when we retire and subsequently come back to the UK.


Ask the Specialist response:

Thanks for your enquiry. The good news is that we do typically assist expat clients in similar situations who are looking to purchase a residential property in the UK for their own use from time to time.

Some of our clients also wish to holiday let the property whilst they are out of the UK so that it is not left empty. They then use the property for themselves or their family while they are back in the UK.

The first hurdle very much comes down to your residence overseas. Many lenders see expat mortgage applicants as a higher risk when compared to a UK based mortgage applicant given that you are outside of the jurisdiction of the UK authorities etc.

Secondly, some lenders are not keen on the property being left empty for periods of time whilst you are overseas. If you have a family member that lives close to the property and could look after it for you that could help. Alternatively, if you do wish to let the property as a holiday home then the letting agent could take care of this for you.

On the face of it, it does look as though it is something we could look to assist you with. You would be looking for a deposit of 25% to 30% of the purchase price in the current market.

To obtain an indication on mortgage rate you can either check our 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