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Offshore mortgages
Mortgages for overseas residents buying property in the UK
Typically offshore (or international) mortgages will be recommended to clients whose main income comes from outside the UK or they are not resident in the UK for tax purposes.
Offshore mortgages and tax
Offshore mortgages are also available to clients or companies that wish to hold a UK asset, typically a property, that is based in a country that will treat their tax position more favourably - Isle of Mann, Jersey, Bermuda, British Virgin Islands etc.
If a purchase is structured this way you can be exempt from UK tax, which can be very advantageous if you are a higher rate tax payer or your income is difficult to prove in a more conventional way.
Investing in UK property
Offshore mortgages are also a good vehicle to fund purchases for clients that have never resided in the UK and have no intention to but simply want to invest in the UK housing market.
This can be done with as little as a 15% deposit but generally most lenders need 25-30% deposits, depending on the client's individual circumstances.
How can Alexander Hall help with overseas mortgages?
As completely independent mortgage brokers, Alexander Hall is well placed to find the best offshore mortgage for you. We have a wealth of experience dealing with international mortgages.
You should always seek independent tax advice from an accountant or tax specialist before proceeding with an offshore mortgage.
Contact us about offshore mortgages