Second Home Mortgage for British Expat in Singapore

27th July 2022

Guy Jones

Second Home Finance for British Expat in Singapore
Guy Jones

Guy Jones

Key Figures: 

  • Client: UK National & Singapore Resident
  • Property type: Second residence
  • Property Value: £1,350,000
  • Loan Amount: £1,011,000
  • LTV: 75%
  • Interest Rate: 5-year fixed at 2.21%

Enness assists British expats residing in Singapore to access the best UK mortgages. Accessing an expat mortgage as a British national living abroad should be easy, but it is rarely straightforward and can be fraught with complications if you try to arrange your own UK mortgage from your base in Singapore. Not every lender can cater to non-resident borrowers, even if you are a UK citizen.

The process can become even more convoluted if you are in the market to buy a high-value property or you want to borrow a significant amount. In this case, our client was a high-net-worth British expat based in Singapore. As the commercial director of one of the leading logistics companies in Singapore, the client was paid in SGD (Singapore dollars). The client was looking to acquire a property in South West London worth £1.35 million that would be used as a second residence whilst their eldest daughter attends a boarding school nearby. 

Enness regularly works with non-resident borrowers who have what many lenders consider "complex" income or a "non-standard" background. Enness focusses on brokering such deals and securing UK mortgages for Singapore-based borrowers that 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 and, in some cases, if you can borrow at all. 

As per the client's requirements, we were able to obtain a very competitive 5-year fixed product from a high street bank. The client was delighted with the 2.21% interest rate and 75% LTV mortgage. 

Whatever your circumstances and however much you are looking to borrow, Enness will explain all your options and help you understand what lenders need to see to offer you the best finance package. Get in touch to chat about how Enness can help, or the rates likely to be available to you. 

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