Foreign National Mortgage Loans
Obtaining mortgages for properties in the UK is very difficult if you have no UK residential status. We have been able to source mortgage loans for Foreign nationals through the lenders (there are not many) who will assist.
These lenders are looking for a minimum value of the property to be mortgaged of £75,000 and will generally lend up to 60-65% LTV. Loans are often for only 5 -10 years and therefore the rates are higher than the UK mortgage market, with the average rate in the range 6-7% per annum.
Lower rates can be achieved if you have properties valued at £400K + as with a minimum loan size of £250,000 it becomes more cost effective and so enables the lenders to lower the rates.
There are several organisations providing courses and instruction on how to become property investors in the UK I am not aware they are providing guidance as to the issues in obtaining mortgages.
For further details please get in touch or contact us via our online form.