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Free expat mortgage calculator
UK expat mortgage calculator
Two quick stages. First, find out how much mortgage you could get, based on the rent and an industry standard of up to a maximum of 75% of the value. Then see what it would cost each month, including the payment in your home currency.
Indicative guide only. This calculator gives estimates to help you plan. It is not a quote, a mortgage offer or advice.
Standard UK residential property only. It does not cover commercial or semi-commercial property, HMOs, auction purchases or other specialist property. If your purchase is one of these, speak to an adviser.
Subject to valuation. The property value and rent are subject to the lender's valuation.
- 1 How much mortgage can I get?
- 2 What will it cost each month?
Stage 1
How much mortgage can I get?
For buy-to-let, the mortgage is based on the rent the property will earn, up to a maximum of 75% of the value. For standard residential property in the UK only.
What are you looking to do?
The property
Rental income
How it is worked out
For your own home, lenders also assess your income and outgoings, so the amount may be lower. Your adviser will confirm what you can borrow.
Next: what will it cost each month?
See the monthly payment on this mortgage using current expat rates, plus the deposit needed and payments in your home currency.
How expat lenders look at your mortgage
The calculator gives a guide. Lenders then apply their own rules, which is why the right lender matters so much for expats.
Loan to value
Expat lenders cap borrowing at 75% of the property value, so you will need a deposit, or equity if remortgaging, of at least 25%. The best rates are often found at 60% to 65%.
Rental cover
For buy-to-let, lenders test that the rent covers the interest at a stress rate. Individual buyers usually need 145% cover and limited company (SPV) buyers 125%. The mortgage is the lower of this rent-based figure and 75% of the value, so the rent often sets the limit.
Term and fixed rate period
The term is the total length of the mortgage, from 2 years up to 25 years. The fixed rate period, usually 2 or 5 years, is how long your interest rate is set for. When it ends, the mortgage moves to the lender's variable rate unless you choose another fixed rate, and we can help you arrange that.
Interest only or repayment
Interest only is the most popular choice for buy-to-let and investment property, keeping monthly costs down and helping the rent cover the mortgage. The loan is repaid at the end of the term, so you need a repayment plan. Repayment mortgages clear the loan over the term.
Foreign currency income
Income in AED, SAR, USD, HKD and other currencies is widely accepted, though some lenders reduce it by 10% to 25% to allow for exchange rate movements.
Speak to a UK expat mortgage adviser
Your calculator figures are added to the form automatically, so we can come back to you with lenders that fit. The consultation is free and there is no obligation.
Email: john.florey@opesfp.com