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Second Charge Mortgages for UK Expats & Non-UK Residents
Many customers looking to release capital or equity in their property prefer a second charge as opposed to a remortgage. With a second charge mortgage, the second lender takes second priority to the first lender. This means if the property ever needs to be sold, the first lender will have first call on equity in the property. This option can allow you to avoid the often-costly process of re-mortgaging. If you sell your home, you’ll need to pay off your second charge mortgage. Or, if your lender allows it, transfer the second mortgage to a new property.
Get a free Second Charge Mortgage quote today
Our team of experienced expat mortgage specialists can simplify the process of finding and securing a second charge mortgage for a property in the UK – without you even needing to set foot in the country.
Speak with one of our Second Charge Mortgage expert advisers today.
Call +44 161 871 1216
How do UK Expats use a Second Charge?
Many UK expats tend to utilise second charge mortgages for;
- Business purposes
- A deposit for an additional property purchase
- To transfer equity
- To purchase a lease on a property
Why take out a Second Charge?
- If your current mortgage has a high early repayment charge, it might be cheaper for you to take out a second charge mortgage rather than to remortgage to release equity from your property.
- A second mortgage means you would only pay extra interest on the new amount you want to borrow.
- Second charge Mortgages can provide a fast, cost-effective means of secured borrowing. Without the need for extensive legal requirements, or lengthy conveyance process.
- If you don’t have a strong credit footprint in the UK as you have been working and living abroad.
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When should you consider a Second Charge Mortgage?
Many UK Expats or Foreign Nationals with a UK property wants to release equity from a property quickly and without recourse to remortgaging tend to be:
- Self-employed.
- Don’t have a strong credit footprint in the UK as they have lived or worked abroad for many years.
- Need to raise capital for a purpose not accepted with standard high street.
- Or their current UK mortgage has Early Redemption Clauses – or a penalty to remortgage
- Is an Interest Only mortgage so that changing to a repayment mortgage could be more costly.
- If the customer has a Bank Base rate Tracker and the current rate is so low that it cannot be matched or beaten.
Helping You Through the Expat Mortgage Application Process
Most high street lenders lack expat mortgage options and support structures for Expats or Foreign Nationals seeking finance. This is where a specialist UK expat mortgage broker is usually necessary to ensure your application meets the right criteria and is directed to the appropriate lender. Any available mortgage product will depend on your specific circumstances.
Our consultants and dedicated support team will guide you through the entire UK mortgage application process. We'll identify all of the requirements, including income and visa status. We help reduce disruption, contain your costs, and save you time.
We’re here to Save Time and Take Away the Stress
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We work with the lender to present your case and ensure an underwriter doesn’t make assumptions based on the fact you live and work abroad or have only recently moved to the UK.
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We can talk you through the process on how best to present your mortgage application.
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As a completely independent team of expat mortgage specialists – we have no obligations other than ensuring you receive the best and most valuable service from our team.
- We can help you secure a more favourable rate when exchanging money across borders.
Liquid Expat is your Specialist Expat Mortgage Broker
Liquid Expat Mortgages has been providing expat mortgages since 2007. Our many years of experience and relationships built up with lenders means that we can find the very best mortgage for your needs.
Accessible
Our mortgage consultants are available on the end of the phone or email, as and when you need us.
Approved
Liquid Expat is fully approved by the UK’s Financial Conduct Authority for expat mortgage advice.
Exclusive Market Access
Not only do we have the largest panel of lenders to choose from, but a number of our lenders have exclusive offers only available through Liquid Expat Mortgages.
Experienced
Liquid Expat Mortgages have successfully completed thousands of mortgages and remortgages for expats and foreign nationals since 2007.
Experts
Our expert mortgage consultants are fully qualified with extensive UK Mortgage market knowledge.
Straightforward
We work quickly, without jargon, to make things happen within your time frame and around your time zone.
Liquid Expat Mortgages Testimonials
Hear from some of our clients about their experience with Liquid Expat Mortgages.
❝ I would like to take the opportunity to express my sincere thanks for the superb service and support I have received from Liquid Expat Mortgages in organising my mortgage in the UK. I fully expected to have had to return to the UK at some point to sort this out. I did not which justified your fee in itself! ❞
❝ I just wanted to drop you a message to let you know of my recent very positive experience with Liquid Expat Mortgages as I have recently acquired a mortgage and completed on a property in Manchester. It’s reassuring to have people you can rely on to help and give advice on what to do next. ❞
❝ Thanks to Liquid Expat Mortgages for assisting us in getting our mortgage all sorted. We will definitely be using you again and recommending you to other expats. Everything went smoothly and you helped and kept us in the loop through-out. We have no problem recommending your services. ❞
Liquid Expat Mortgages Reviews
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Your guide to expat mortgages
As a specialist expat mortgage broker based in the United Kingdom, we can guide you through even the most complex overseas UK mortgage or remortgage process.
With over a decade of experience, we can quickly assess your case and then immediately place you with the most suitable lender and the best possible terms to suit your personal circumstances.
Get a free quote