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20th August 2019 - Expat Residential mortgage support
Expat Residential mortgage support
“I work in China whilst my husband and parents look after our children in the UK. We found our dream home worth £400,000. We had a deposit of £80,000 so needed a mortgage for £320,000.”
Claire’s key criteria
Claire is paid in Chinese Renminbi which is one of our 19 acceptable currencies.
Her parents, husband and children would be living in the property in the UK whilst she worked away which was acceptable to us. Claire’s husband and parents have their own income so we can ignore them for affordability
We checked Claire’s affordability and based on our income multiples of 4.5x the case fits comfortably
Our Lending Solution
Income is stressed to either GBP equivalent -20% or worst-case exchange rate over the last 5 years – whichever is worst.
In this scenario, the current exchange rate -20% totalled £92,800 and the worst exchange rate over 5 years was £97,800. As £92,800 is the lowest of the two figures, we used this to calculate affordability and income multiples meaning we could give Claire an Expat Residential mortgage.
Get in touch…
If you have any questions about this product, please call our Intermediary Support Team on
Or visit our Expat Residential page…