Expat Residential FAQs

Yes, you can download a mortgage application form on our Downloads page. We can accept applications and supporting documents via email in the first instance at intermediaries@themarsden.co.uk but the original application form will need to be posted to our Principal Office address; Marsden Building Society, Principal Office, 6-20 Russell Street, Nelson, BB9 7NJ.

No – there is no need to pre-register if you’re applying via paper application, we will use the information provided when you submit your first application with us. If you want to submit your application online, you will need to register for our Intermediary Online service.

We allow wife/partner/children or parents to reside in the property as long as they are not paying any rent.

Yes, additional borrowing is available.

Your client can be based in any country as long as it’s not sanctioned, although we do not lend in Australia. Please check the FATF website for clarification. For eligibility, we look at which currency you receive your salary in. We have an approved currency list which is available on our Expat Residential criteria page.

Yes, we will carry out an affordability check which means we will look at what your client earns and what they will need to pay out to make sure they can afford the mortgage.

Yes, if the existing property is a buy to let property, they can apply for a residential mortgage with us. If your client rents their existing property out, we will need to make sure that the rental income is sufficient to cover the new mortgage, or they have sufficient earned income to cover any rental shortfall and the new mortgage.

You can borrow up to 80% to purchase a residential property in the UK, however, interest only is only available up to 50%.

We require a minimum income of £37,500 per application.

They could be dependent on their circumstances. Please refer the case if they have a minimum of 5 years trading and English accounts.

Yes, we accept gifted deposits, however, we will need evidence of this when you submit an application.

Not necessarily, 1 applicant must be a UK Citizen and the other applicant either an EU National or have permanent right to remain. The salaried applicant must be the UK Citizen.

The minimum age for Expat Residential applications is 25. You can find out more about minimum and maximum age on our Expat Residential criteria page.

The minimum property value is £100,000.

Most types of residential properties are accepted, we do have a restriction on flats with a maximum loan to value of 60% (we will not look at new build flats). You can find more details of acceptable and unacceptable properties on our Expat Residential criteria page.

No, we don’t credit score which works especially well with clients who have been abroad for several years and struggle to evidence credit history. Our underwriters will look at your client and use common sense to judge your clients profile.

A Service Agent Agreement is a document that your client will need to complete and sign before an expat mortgage can be completed. This will confirm the name and address of somebody in the UK who will act as the Service Agent and who the Society can serve papers to should the borrower fall into arrears and possession proceedings need to commence.

If the Society commences possession proceedings against an expat borrower, the judge will need to ensure that the legal papers were served correctly should the case go to court. As the client resides outside of the UK, they could argue that the papers were not received and any hearing could be adjourned, leading to a delay in obtaining a warrant for possession. If papers are delivered to a Service Agent acting on behalf of the borrower, courts will accept that papers have been served correctly.

Although there are companies specifically set up to act as Service Agents, we will accept any person known to the borrower residing in the UK.

The Service Agent cannot be a party to the mortgage, for example, we would not allow a spouse living in the UK whose partner lives and works abroad as the Service Agent. We would recommend a solicitor or family member.

A Service Agent Agreement only needs to be obtained once; it is the borrower’s responsibility to notify the Society if a Service Agent moves address, in which case a new Service Agent Agreement would need to be completed.

Your client will receive an offer which will contain the relevant condition along with the Service Agent Agreement form, which will need to be returned before the mortgage can complete.

The Service Agent Agreement form must be completed and returned by your client before the mortgage can complete.