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UK mortgages for foreign investors

Can I buy a property in the UK to rent out?

The short answer is, YES, you can! 

Of course, as you'd expect there are a few conditions attached, but in general there is no reason why someone from overseas cannot invest in the UK property market.

Here are my top tips to help you begin to build your UK property empire!

1. Open a UK Bank Account

The mortgage lenders we use for this type of borrowing will ALWAYS want their monthly mortgage payment to be made from a UK account.  Fortunately, with the advent of mobile banking, this isn't as complicated as it used to be! 

2.  Buy a property worth at least £150,000

Many lenders have a minimum property value so it's worth bearing this in mind before you begin your property search. Which leads me nicely onto....

3. Put together your Property Team before you begin

You'll need several contacts in the UK - your mortgage broker (hello!), a reputable solicitor, a letting agent who can manage the property on your behalf, and it might help to have an accountant to look after the books for you at the end of the year.

4. Buy a "normal" property 

As with the minimum property value I mentioned above, lenders do not like unusual properties.  Ideally the property will be a leasehold flat with a long lease, or a house of bricks & mortar and a tiled or slate roof. 

5. Buy in England or Wales

As lovely as Scotland is, the law around buying property is different to the rest of the UK. With this in mind, until you are experienced in UK property ownership I would suggest you avoid buying in Scotland.

As you can imagine, this is only a brief insight into the process, so if you are considering buying a property in the UK, get in touch to begin your journey! 

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