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UK Mortgages For Hong Kong Residents

Enness specialises in brokering high-value property finance for Hong Kong residents or expats and individuals living in Hong Kong. Enness can arrange for any type of UK mortgage, including:

  • UK mortgages for first-time buyers
  • Remortgages
  • Self-employed and entrepreneur mortgages
  • Equity release on existing UK property
  • Debt consolidation
  • UK mortgages for Hong Kong residents
  • Expat mortgages for British nationals living in Hong Kong
  • Mortgages for other nationalities residing in Hong Kong who wish to buy UK property
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Buying Property In The UK As A Hong Kong Resident

It's no secret that the UK’s property market has long attracted investors who are resident in Hong Kong or who have links to the administrative region. Our UK mortgage brokers have found that London remains perhaps the most popular destination for UK property purchases, other major cities in the UK are also attractive from an investment perspective.

There are no restrictions on foreign ownership of property in the UK. Naturally, British expats are eligible to buy UK property, as are expats from other countries who reside in Hong Kong. Even though you can own UK property without holding a UK passport or being a UK resident, securing a mortgage can be more complex if you are based in Hong Kong. The same is true even if you are a British expat. A UK mortgage broker like Enness will facilitate Hong Kong-based borrowers' access to lenders, and help you negotiate a mortgage that meets your financial background and broader requirements.

UK Buy-to-let Property

Buy-to-let property is one of the most attractive types of property investments for individuals based in Hong Kong. Most UK buy-to-let mortgages are "unregulated", which means that you want a mortgage on a property you don’t intend to live in and you will not rent to a family member. Regulated mortgages are used when you plan to buy a property a family member will live in or that you will live in at some point in the future (if you are a British expat, that will return to live in the UK for example). The distinction is essential because regulated mortgages have different affordability restrictions than unregulated mortgages, affecting how much you can borrow.

If you are a Hong Kong-based buyer looking to purchase UK buy-to-let property, you are most probably aiming to use the rental income generated from your property to cover mortgage repayments. This is possible and very logical, but it is worth understanding what lenders want to see in this respect. It is not enough that your property will generate rental income to cover your mortgage repayments – lenders want to see a margin of about 150% between your rental income and your monthly mortgage repayment. In some cases, lenders are a little more flexible and require a lower margin, but you can expect that 150% is a relatively standard requirement, which can influence how much you can borrow overall, the deposit you need to put down and so on.

As a non-resident borrower, also expect lenders to scrutinise your income more carefully than if you were based in the UK. This is not to say that high-value mortgages are not a possibility – they are, and Enness brokers these regularly for non-residents. However, lenders will be looking to ensure they are comfortable with your expenses, your experience managing rental property and the stability of your income. Provided you are in good financial standing and can demonstrate this clearly to lenders, million-pound-plus mortgages and high-value mortgages will be well within your reach, especially working with a broker like Enness.

If you live in Hong Kong, it can be easier to secure high-value buy-to-let mortgages in the UK if you are an experienced investor, and you can detail successful past experiences owning investment property in the UK or elsewhere. Expect lenders to require detailed plans documenting how you will manage, maintain and advertise your rental property from Hong Kong. Established and well-documented working relationships with estate agents and property management firms can be helpful in this respect.

Enness UK mortgage brokers have relationships with all the lenders that offer finance to first-time UK property investors and will be able to negotiate finance packages with these players on your behalf if you are buying your first rental property in the country. However, depending on your background and situation, you may not be able to borrow as much as a more seasoned investor if it is your first foray into UK buy-to-let property investment.

Top slicing is possible for UK buy-to-let property investments. Top slicing is used when your property's rental income won’t cover the mortgage and the margin your lender wants to see. Here, lenders will look at your other income (your salary or other assets or investments which generate significant and regular income), which you can use to cover the difference between the rental income and your mortgage.

Top slicing is not an option for every borrower and is not something you can simply request from your lender without a solid case for doing so. How you present your request to top slice and the strength of your case is critical to ensure that it is seen as a viable option by lenders, especially given you are based in Hong Kong and are unlikely to earn in sterling. Lenders need to find comfort in your ability to repay the loan and the stability of the additional income you will use to pay the outstanding mortgage amount. As a result, top-slicing is usually only an option for high-net-worth individuals. If you have significant assets that support your case, Enness can help you negotiate top slicing. Because not all lenders will allow international borrowers to top slice, Enness' network of lenders and your broker’s ability to negotiate on your behalf will be beneficial if you are looking for this as an option.

Whatever you choose to buy in the UK and however much you are looking to borrow, Enness can get you the best rates and terms for your UK buy-to-let mortgage. Enness brokers mortgages in the UK and other countries – particularly in prime European locations.

UK Mortgage Rates

The UK mortgage market is one of the most liquid and competitive in the world, with an abundance of lenders that cater to all borrowers, including non-residents and high-value lending.

What Enness will be able to secure for you regarding rates and terms will depend on your plans for your property, your financial background, net worth and how much you want to borrow.

Hong Kong-based borrowers are often in the market to make high-value property purchases, and Enness will be able to broker highly competitive UK mortgages for you if this is the case. If you want to buy a property valued in the region of £1-2 million, tracker mortgages start at around 2%, and Enness can secure five-year fixed-rate mortgages from about 2.15%.

If you are a British expat living in Hong Kong, an entrepreneur, are self-employed or are retired, securing a competitive UK mortgage as a non-resident can be complex – especially if you are approaching lenders without the help of a broker. Not every lender can cater to such borrower profiles, and those that do may not be able to serve you as a non-resident. Enness regularly works with non-resident borrowers with backgrounds or scenarios that some lenders consider to be non-standard. Enness will be able to connect you with lenders that will be happy to lend to you, and that can meet your requirements. Your broker will also negotiate the best finance package for you and keep the deal moving swiftly towards completion as soon as possible – whatever your background.

Whatever your needs and however much you are looking to borrow, Enness will explain all your options and define what lenders will need to see to offer the best finance package. Get in touch today to have a chat about your requirements and hear from Enness what rates or terms a broker will likely be able to secure for you – there is never any obligation to take things forward at this stage, but you will have a clearer idea of how Enness will be able to help and what rates will be a possibility for you.

UK High-Net-Worth Mortgage

The rates and terms that you can secure for a UK mortgage as a Hong Kong resident will be dependent on your financial standing, assets and income. If you are a high-net-worth individual or you are in a strong financial position with a balance sheet to match, our UK property agents will be able to secure very competitive mortgages, even if you want to borrow a significant amount to buy UK property.

However much you want to borrow, Enness will always start by assessing your assets, income (in Hong Kong or worldwide), and overall net worth. A broker will also discuss any requirements regarding terms or lenders (e.g. if you would like to work with a specific type of lender, if you would like to benefit from particular terms such as no early repayment fees, and so on). Enness has access to over 500 lenders. By carefully assessing your financial situation and requirements, your broker will determine which lender will be best able to offer the most competitive UK mortgage that is well suited to your needs and background.

It is worth noting that high-net-worth mortgages can be a preferred choice for Hong Kong-based investors buying UK property. Broadly speaking, high-net-worth mortgages have different rules around affordability, minimum income, and expenditure — a high-net-worth mortgage means you can effectively opt-out of regulated oversight. Lenders will still assess you carefully and ensure the mortgage is suitable in terms of affordability, but if you qualify, you can benefit from more flexibility and lenders looking more broadly at the merits of your financial background to support borrowing more, more flexible terms and so on.

High-net-worth mortgages are not available for everyone, especially for non-resident borrowers. You will be eligible for this type of mortgage if you have a yearly income of at least £300,000 or assets equalling at least £3 million (your principal residence cannot form part of this total net worth).

Enness regularly brokers high-net-worth mortgages for non-resident borrowers. Get in touch to learn more about this type of mortgage, the benefits, and discuss if you would be eligible.

Complex Income Mortgages For Hong Kong Residents

Generally speaking, when it comes to non-resident borrowers buying UK property, mainstream lenders want to see very "plain vanilla" borrowers. While you may have a significant net worth, things like multi-currency income, multiple sources of income, income from a trust, are very wealthy but do not have a "typical" salaried role, borrowing can be more complex as a non-resident.

Enness regularly works with non-resident borrowers who have what lenders perceive to be "complex" income. As a firm, Enness specialises in brokering such deals and securing UK mortgages for Hong Kong-based individuals that may fall into these categories. Working with a broker who can present the strengths of your case to lenders will make all the difference to what rates you are offered.

Before approaching lenders, Enness will assess your assets and financial background and work out how to present your case to lenders. In doing so, your broker will be able to approach the best lenders for your case directly, speeding up the process while simultaneously securing the most competitive UK mortgage for you.

If you live in Hong Kong, your broker can assist you to negotiate a high-value UK mortgage, regardless of whether you:

  • Have a unique or unusual income structure
  • Own a business or businesses, are an entrepreneur or are self-employed
  • Have diverse income streams
  • Are a trust beneficiary
  • Generate significant income through investments.
  • Are retired or are nearing retirement age
  • Benefit from large bonuses on top of your base pay
  • Plan to sell high-value assets to support your UK property purchase
  • Have a high net worth but comparatively low income

If you recognise yourself in one of the above categories or have any other type of non-standard income, get in touch. Enness’ UK mortgage brokers know the complex mortgage market inside out and will be able to assist you in negotiating the best property finance package for your UK property purchase.

Self-employed And Entrepreneur Mortgages

Hong Kong is, of course, one of the leading business hubs in Asia, and it is home to many successful start-ups, self-employed individuals and entrepreneurs. If you are self-employed in any capacity (e.g., you run your own business), you may be very successful and have significant income, but securing a UK mortgage as a non-resident can still be tricky.

As a general rule, if you run your own business or are an entrepreneur, most lenders will want to see your last three years of tax returns to determine how much you can borrow and assess your financial stability. However, a tax return may not reflect the actual profitability of your business, given that you may reinvest profits back into the company or have invested heavily into your business and will be repaid in the future.

If you live in Hong Kong and work for yourself in any capacity, how you present your case to lenders is crucial and is not only the difference between getting a competitive rate or not, it can affect your ability to borrow at all. Often, niche and boutique lenders may serve you better than larger lenders who can be more inflexible in their lending criteria and may not be able to consider the broader merits of your case.

Your broker will present your case directly to the lenders that can best serve you as an entrepreneur or self-employed individual and who will be able to consider your background more fully. Enness has significant experience brokering high-value property finance for non-resident business owners and entrepreneurs and will be able to secure the best UK mortgage for you based on your profile and hard work.

Mortgages For UK Expats Based In Hong Kong

Many Hong Kong-based British expats approach the UK mortgage brokers at Enness to help arrange UK mortgages.

Getting a UK mortgage as a British expat based abroad should, in theory, be relatively straightforward, but it rarely is. The process can be time-consuming and complex, especially if you are in the market for a high-value property purchase or you are looking to borrow a significant amount. Many mainstream lenders find it challenging to cater to non-resident borrowers, even if you are a high-net-worth individual. If you already own property in the UK but wish to invest in a buy-to-let property or have other plans, finding the most competitive UK mortgage and a lender that will let you borrow as much as you want can also be challenging.

Enness acts as a trusted UK property agent on the ground in the UK, working for you to source and negotiate the best UK expat mortgage on the market.

How Enness Helps Hong Kong-based Borrowers Buy UK Property

Enness UK mortgage brokers works with high-net-worth individuals and families based in Hong Kon to secure the finance and mortgages they need to acquire UK property. Enness specialises in high-value mortgage brokering and supporting non-UK residents to access the most competitive UK mortgage deals.

Here, it is helpful to note that the most competitive mortgage does not necessarily mean the cheapest rate. While your broker will always be aiming to get the lowest mortgage rate, they will consider other factors that will deliver the best finance package for you. For example, the ability to borrow slightly more, have more flexible terms, borrow from specific lenders or benefit from no early repayment costs may be more attractive than a marginally lower rate. Whatever your needs and requirements, Enness will act as your UK property agent to source and negotiate a UK mortgage that will fulfil all your needs all while keeping your headline costs as low as possible.

Enness will always start the process by understanding your goals, needs and requirements. Your broker will explain your options and the lenders that will be best suited to meet your requirements – whatever these are. Enness will approach lenders on your behalf when you give the green light. Sometimes, these will be mainstream lenders in the UK, and other times, they will be private banks, specialist lenders, or niche players.

After presenting your case, Enness UK mortgage brokers will negotiate your UK mortgage with lenders and will source one or more offers for you to compare. Then, your broker will walk you through the options and explain the differences in each so you can make an informed decision about what the best offer is for you. When you are ready to move forward, Enness will notify the lender and submit your mortgage application on your behalf. Your broker will be available at any time until completion to assist you, troubleshoot if needed, and ensure a seamless and stress-free transaction.

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Contact Enness

Enness is a leading broker of high-value residents and has a track record of working with Hong Kong residents buying property in the UK. Headquartered in London’s Mayfair, Enness is ideally placed to help you secure a UK mortgage. Get in touch today to understand more about Enness’ proposition, how we can act as your UK property agent, and rates or securing a UK mortgage as a Hong Kong resident. 

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