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Non-resident mortgages

Non-resident mortgages are available for people who live outside the UK, but want to purchase a UK property. As the borrower lives outside the UK, mortgage lenders tend to attach a higher risk factor to these transactions.

We use the following approach to source the best non-residential mortgages for our clients:

  1. Understand the factors relevant to the borrower
  2. Agree on the criteria of the transaction
  3. Research the best deals in the market that meet these criteria

We will allocate one of our mortgage advisers to you to conduct the research. Your mortgage adviser will work closely with you to agree upon a set of search criteria, followed by a detailed search of the market to find you the best mortgage.

The advice that you receive

Our advice will come in the form of a written report setting out the various options available to you. This report will highlight

  1. All repayment options
  2. The pros and cons of each option
  3. A final recommendation
View an example of one our client reports here.

Our research models

We use two models for our non-residential mortgage research:

  1. Standard
  2. Non-standard

We don't charge for our initial assessment.

1. Standard cases

“Standard” cases are those cases where:

  • You (as the borrower) have Indefinite Leave to Remain (ILR) in the UK or possess a British or EEA passport
  • You are employed or, if self-employed, have two years’ tax returns that fit the borrowing requirement
  • The loan-to-value (the mortgage as a percent of the property value) is 80% or less

In these circumstances, you are likely to fall within the lending policy of most lenders; this allows us to conduct the research without needing to make special arrangements with any lender.

We will provide you with a range of deals that best meet your criteria and advise you on the best options going forward.

2. Non-standard cases

A classification of “non-standard” applies to those cases where:

  • You (as the borrower) are not a British passport holder and do not hold ILR
  • Your earnings cannot be backed up by two year’s P60 employment income in the UK
  • The proposed mortgage amount exceeds three times your annual employment income
  • The loan-to-value (the mortgage as a percent of the property value) is more than 75%
  • The proposed mortgage is greater than £1,000,000

The "non-standard" route occurs where a case falls outside of standard lending policy. In these cases, we are required to spend additional time researching your options and arguing your case with underwriters.

Our fees

We may need to charge a fee if we spend significant time researching your options, but we will communicate this to you clearly if this situation arises. This will be the only fee you pay us, as the lender will pay us a success fee on completion.

If the lender success fee is below £750, we will ask you to pay the difference as a brokerage fee. The brokerage fee will be payable on issue of the mortgage offer. For example: A £200,000 loan would have a success fee of approximately £680; £680 is £70 below the £750 lender success fee. We would therefore ask you to pay a brokerage fee of £70 on issue of the mortgage offer.

South Africa

Cape Town

Regent Square
Doncaster Road
Kenilworth 7708 +27 (0) 21 657 2120

Durban

201 The Annex
Ridgeside Office Park
Umhlanga +27 (0) 31 536 8843

United Kingdom

London

Castlewood House
77/91 New Oxford Street
WC1A 1DG +44 (0) 20 7759 7514

Croydon

5-7 Selsdon Road
South Croydon
CR2 6PU +44 (0) 20 7759 7581

Australia

Melbourne

9 Yarra Street
South Yarra
VIC 3141 +613 (0) 8651 4500

Sable International is a trading name of 1st Contact Money Limited (company number 7070528) registered in England and Wales. Sable International is authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (FSP no. 41900) and holds an Australian Financial Services License issued by ASIC to deal in foreign exchange (AFS License number 335 126).

Our United Kingdom business, Sable Private Wealth Management Ltd, is authorised and regulated by the Financial Conduct Authority. Our Companies House registration number is 222501. Our authorisation can be checked on the FCA register here: www.fsa.gov.uk/register/home. Our South African business, Sable Private Wealth (Pty) Ltd, is an authorised FSP, regulated by the Financial Services Board under licence number 48122.

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