More British people are building lives overseas, whether that is for work, family, study or a change in lifestyle. For many, the UK home remains a key part of the plan.
The latest Office for National Statistics (ONS) data shows that an estimated 246,000 British nationals left the UK in the year ending December 2025.
That was slightly lower than the 257,000 who left in the previous year, but it’s still a large number of people making a long-term move abroad.
The ONS also says at least 4.8 million people born in Britain were living overseas in 2024, based on United Nations data.
That raises a very practical question for many homeowners: what happens to the mortgage?
For some, the UK property is rented out while they live abroad. For others, it becomes a source of equity to help with a new home overseas. But arranging finance as an expat is not always as simple as proving that you earn enough.
Why expat mortgages can be more complex
A UK-based borrower will usually be judged on income, credit history, deposit, property value and monthly costs. Those points still matter for expats, but lenders will often go further.
They may ask where the income is earned, what currency it is paid in, where the applicant is a tax resident and where they are currently based. They may also look at how long the borrower has been abroad and whether there is any plan to return to the UK.
This means two borrowers can earn the same salary and still face very different outcomes. One may have a good choice of lenders, the other may find that several lenders will not consider the case at all.
The reason is not always income, as it can simply come down to the country involved.
Some lenders are comfortable with applicants based in places such as Dubai, Singapore, Hong Kong, Australia or parts of Europe. Others take a more careful view, depending on the location, currency, employment set-up and local rules.
That is why the first question should not be, ‘how much can I borrow?’ It should be, ‘which lenders are likely to accept my situation?’
Consent to let is not always a long-term answer
One issue we are seeing more often involves consent to let. A homeowner moves abroad and asks their high street bank for consent to let their UK home.
The bank agrees, which allows the property to be rented out while the borrower keeps the existing residential mortgage.
That can work in the short term, but the problem often appears when the current fixed rate ends. Some high street banks are comfortable giving consent to let for a period, but once the deal ends, they may not allow the borrower to move onto a new product because they are no longer UK resident.
This can leave the borrower stuck and they may be moved onto a higher standard variable rate, or they may need to refinance with another lender that is willing to deal with expat buy-to-let borrowers.
That is why it is so important to check the end position with the existing lender before relying on consent to let.
A real example: Moving from Essex to Dubai
We are currently working with a client who moved to Dubai with his family around nine months ago after being offered a role with a big four accountancy firm.
He still owns his former home in Essex, and the property is worth just under £1 million, currently mortgaged with a high street bank. When he moved abroad, the bank granted consent to let.
His current mortgage deal finishes at the end of October. He now wants to move the property onto a buy-to-let mortgage and release around £300,000 after paying off the existing residential mortgage.
The plan is to use that money towards buying a family home in the Middle East. On paper, this looks good, as the property has a high value and the client has a good job. There is also a clear reason for raising the money, but that does not mean every lender will say yes.
The lender will look at the UK property, the likely rent, the amount of equity, the client’s income, the fact that he is paid overseas, the currency, his country of residence and the purpose of the extra borrowing.
In this scenario, a standard high street route may not be possible. This is exactly where expat finance needs to be placed with lenders that understand the full complexity of the case.
Looking for expat mortgage options? What to do next…
Expat finance is not just a normal mortgage with a different address, as where you live and where you earn can change the lenders available to you. Also, so can the currency, job type, tax position and time spent outside the UK.
For borrowers, that means the right advice at the start can save a great deal of time and stress later.
If your UK mortgage deal is coming to an end, or you want to release equity from a UK property while living abroad, do not assume your current bank will be able to help just because it gave consent to let.
Check the position early and understand which lenders are likely to accept your country, income and plans. Then build the application around those facts.
For many expats, the answer is still yes. But the route to that yes needs to be chosen with care.
Hiten Ganatra, managing director at Visionary Finance