UK Mortgage for Expat in Saudi Buying Property for Son

UK Mortgage for Expat in Saudi Buying Property in Manchester for Student Son

Area
Manchester
Capital Raised
£450k

Getting a UK mortgage as a resident of Saudi Arabia has become more difficult in recent years. Lenders are tightening their lending criteria for Saudi residents, and there are fewer options to choose from.

If you're buying a home for your family back in the UK while you work abroad, it can be even more challenging - despite it being a very common desire for British expats.

The Scenario

Our client was living in Saudi Arabia for work, along with his wife and the majority of his family.

However, his son was back home living in the UK, studying full-time at University in Manchester.

The client was a high earner, bringing in the equivalent of £180k per year in Saudi riyal (SAR).

Their plan was to purchase a family home in Manchester based on the clients' new larger salary, for their son to live in during his studies. The family would move back in a few years' time at the end of the client's employment contract.

Once returned, he could then remortgage at a lower loan to value ratio and as a UK resident, securing a lower rate - but for the meantime, required initial funding to get the purchase over the line: they had identified a beautiful property in the outskirts of Manchester for £700k that they were determined to secure.

The Solution

Saudi Arabia has recently been creeping up the ranks of countries that are difficult to place mortgages for residents of. It's not impossible, but when there are additional complications it takes a skilled broker to navigate the application and identify the right lender.

Because our client would neither be renting the property nor returning to live in it any time soon, there was a lot of overlap with buying a house for a dependent - something that fewer lenders are happy with, and even fewer that don't require you to be based in the UK.

After some detailed conversations with the underwriters at some more 'international-friendly' lenders, our broker was able to produce a competitive offer for our client, despite the complications.

  • We gave additional paperwork on the clients' income, employer, employment contract, end-of-contract bonus details, residency, and more.

  • We spoke to the underwriters personally about high-level application details, as well as the clients' broader situation and plans to return to the UK in 2-3 years.

  • And we kept our client updated every step of the way - from securing the AIP to getting funds sent to the solicitors on completion day.

If you've been put off the idea of applying for an expat mortgage due to initial conversations with your existing UK bank, mortgage broker, or anyone else, don't hesitate to get in touch with us to enquire about your situation.

We can provide a sense-check of your options and the viability of your plans, and will support you throughout your entire application if you choose to proceed.

Max Mallinson

Finance Broker CeMAP

Cardiff

0117 332 5977

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jonathan Moffatt

Head of Business Finance

Cardiff

0203 880 8890

Do you need help sourcing your own business finance?

I have extensive experience securing finance for a wide range of businesses. Book a free telephone consultation with me at a time to suit you. 

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Alex Morris

Private Client Adviser

Bristol

0117 332 5061

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Scott Dutfield

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you

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Carly Cheeseman

Head of International

Bristol

0117 457 9922

Do you need help sourcing your own property finance?

I have extensive experience securing UK mortgages for clients. Book a free telephone consultation with me at a time to suit you.

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Nick Kerley

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Louis Levine

Finance Executive CeMAP

Bristol

0117 457 7862

Are you looking for a similar type of property finance?

Get in touch today and find out how I can help.

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Bridging Team

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Sam Baker

Finance Broker

Cardiff

0117 959 5094

Are you looking for a similar type of property finance?

As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you.

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Fergus Allen

Senior Finance Broker

Cardiff

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Jacob Phipps

Finance Broker

Bristol

(+44) 0117 959 5094

Are you looking for a similar type of property finance?

I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you.

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Jack Spillane

Finance Broker

Bristol

0117 959 5094

Is your situation similar to this? I specialise in helping clients who need creative development finance solutions, and second-charge mortgages. Give me a call any time and we can set up a detailed discussion of the finance you need. customDatabaseField-8455

Mathew Phillips

Senior Finance Broker

Bristol

0117 959 5094

Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.

Book a free telephone consultation with me at a time to suit you.

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Alex Chambers

Senior Private Client Adviser

Bristol

0117 403 4324

Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.

Book a telephone consultation at a time that suits you.

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Luther Yeates

Senior Finance Broker

Bristol

0117 244 5561

Are you looking for a similar type of property finance?

I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.

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Sam ONeill

Senior Finance Broker

Bristol

0117 959 5094

Is your situation similar?

I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you.

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