The availability of UK mortgages for Middle Eastern residents

19th Feb 18
Toby Johncox GROUP MD

Toby Johncox

The availability of UK mortgages for Middle Eastern residents

Toby Johncox

One of the most frequent questions I am asked is whether UK mortgages are available to Middle Eastern residents. This query comes from British expats who are now living in the Middle East, and also from UAE nationals looking to invest in the UK for either business or personal reasons.

Often, non-UK residents mistakenly believe they can’t get UK property finance, because they have approached a high street bank and been rejected. However, this is absolutely not the case. It’s certainly true that mainstream high street lenders are less likely to approve UK mortgage loan to non-resident clients, but these lenders are not the only port of call when it comes to applying for a mortgage. There are also a number of mainstream lenders who will consider expats. Whether you are a UAE national or a British expat, you certainly can get a UK mortgage.

Ultimately, it’s simply a case of approaching the right lender and structuring the application correctly. This is especially true when the loan size is large. Again, many high street lenders may be prepared to work with clients living in the Middle East—but they may have an upper lending limit of, say, £1million.

We have a decade’s worth of experience in securing high value UK mortgages for expats and foreign nationals from all over the world, including the GCC, from our office in London. As such, we are ideally placed to find mortgages for clients who have been turned down elsewhere, because we work with an unrivalled panel of international lenders who are happy to consider such cases, and take a holistic view of a client’s overall wealth and circumstances.

Meet with a Representative in the region

Although I have extensive experience in arranging UK property finance from London, I am now based in the UAE as the Representative for Enness and specialise in meeting with clients in the region.

I can refer clients back to our high net worth mortgage brokering team in London and from our office in Dubai’s Gate Village DIFC, I can support you through each stage of the transaction, putting you in touch with the relevant experts to assist with tax structuring and navigating different legal jurisdictions.

If foreign exchange is a concern, because you are paid in Dollars, Dirham or another currency, Enness also has a relationship with a trusted foreign exchange broker who can help with your non-sterling currency, giving you access to the most preferential market rates.

Whether you’re buying your first property, remortgaging after moving to the UAE, or releasing equity for further investment, I would be delighted to discuss this with you further.