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Crown Servants based overseas?

You are probably thinking why is it so difficult to get a mortgage to achieve your objectives… You are paid in Sterling, pay UK taxes and have a BFPO address. We have secured mortgages for civil servants based overseas for many years, and on nearly every occasion have secured high street deals. Whether you are looking to buy a home to live in when you return to the UK, remortgage your home, or invest in a buy to let it will be best to chat with our founder, Kevin Dunks. Before contacting us, we have found that most Crown Servants benefit from reading our ‘What you need to know’ section further down the page.

Are you eligible for a UK mortgage as a Crown Servant working overseas?

If you answer yes to the following questions you will be eligible.

Do you have a BFPO address?
Have you lived and worked in the UK?
Do you have a UK address history prior to being based overseas?
Do you pay UK taxes on your salary?
Are you considered to be a UK resident?

The amount you can borrow will vary depending on your income, credit commitments and dependants.

Can I purchase a property on a residential mortgage but get consent to let the property whilst I am based overseas?

Yes, our mortgage experts know of lenders that will consider Crown Servants working overseas as being in ‘tied employer accommodation’. When considered by a lender in this way, they will consent for you to let the property from day one of the mortgage as long as it is your intention to return back to the UK and live in the property at some stage in the future.

How much deposit/equity do I need?

You will need a minimum of a 5% deposit, the interest rates will improve if you can achieve a 10% deposit. It is important to know all the costs involved not just the deposit required. Our experienced advisers can provide you with details of all the costs with selling and buying a property or remortgaging.

My home is already rented whilst I am based overseas, can I still secure a residential mortgage rate on my remortgage?

Yes, we know high street lenders that consider Crown Servants working overseas as being in ‘tied employer accommodation’. When considered by a lender in this way, they will consent for you to let the property if it is your intention to return back to the UK and live in the property at some stage in the future.

I’m based overseas but my family either live or want to live in the property we want to purchase, will I be able to get a mortgage?

Yes, lenders prefer if it is being lived in by the family members as opposed to be rented. As mentioned in other questions, we know of lenders that will consider Crown Servants based overseas and being in ‘tied employer accommodation’. When considered by a lender in this way, they will allow you to live overseas and your family remain in your home in the UK.

Can I use my cost of living allowance (CoLA) income as part of the mortgage assessment?

No, lenders consider this to be temporary and therefore will not use this income as part of their affordability assessments. Some lenders will use your ‘Diplomatic Service Allowance’ if shown on your pay slips.

Will I pay a higher interest rate because I am a Crown Servant based overseas?

No, interest rates are generally the same for Crown Servants based overseas as those that are based back in the UK. Number One Mortgages do have exclusive deals available too so they may be even better.

What is the benefit of having an agreement in principle?

An Agreement in Principle, also known as a ‘Decision in Principle’ will be provided after affordability and credit checks have been approved. An Agreement in Principle is extremely useful to increase your confidence when viewing and offering on properties. Estate Agents will typically want to see an Agreement in Principle before presenting your offer to the seller. Our personal advisers can help you with this.

How much will my monthly payments be?

Your monthly payments will vary depending to your chosen mortgage term, choice of mortgage product, how much deposit you have and repayment type. It is best to chat with a personal independent adviser to find out exactly what interest rate and term you can secure to give an accurate monthly payment.