A fast-growing market that isn't as complicated as you might think
This article was produced in partnership with Family Building Society.
With international mobility on the rise and property still a key asset for UK nationals living abroad, expat lending is enjoying a major resurgence — and Family Building Society is positioning brokers to take advantage. Nathan Waller (pictured left) and Georgina England (pictured right), two of the Society’s business development managers, share how brokers can tap into this evolving and currently underserved market.
Bounce-back growth signals renewed demand — and new opportunity
After a subdued 2023, expat mortgage volumes at Family Building Society have seen a dramatic rebound.
“We saw a dip in expat mortgage business in 2023 compared to 2022 - high interest rates and market uncertainty meant a lot of clients paused to reassess,” said Waller. “But in 2024, our volume of expat business more than doubled and we’ve had a really positive start to 2025. Expat is booming again and we’re on track to exceed our 2022 figures.”
Waller points to a surge in UK nationals relocating for work, embracing digital nomadism, or capitalising on tax-free income in destinations like the Middle East while keeping a property foothold in the UK.
Family Building Society is seeing a lot of remortgages to convert a former primary residence into a buy-to-let, providing the client with additional income while preserving a base in the UK should they decide to return. Yet despite strong demand, brokers often remain hesitant.
One major barrier is a belief that criteria are stricter, with higher stress tests or inflexible income policies. While that might be true with some lenders, “that’s not at all the case with us,” stressed England.
Family Building Society has no minimum income thresholds and expat BTL rates are usually similar or only slightly higher than the standard product rates — very competitive in the market. The lender also bypasses the inflexible computer-based credit scoring of the high street, to the benefit of the borrower. With a manual underwriting approach, Family Building Society is especially flexible in assessing clients’ income streams, whether they’re at home or abroad.
“The bottom line is, there’s a perception that expat mortgages are difficult or too niche,” said England. “But that’s not the reality, especially with a lender like Family that’s been active in this space for years.”
Identification, income, and processing — not as complicated as you think
Many brokers also overestimate the complexity of submitting expat applications, and Waller and England are keen to dispel this myth.
“Verifying client’s identity can be simple,” explained Waller. “We use a digital tool that guides customers through the process using their smartphone. As long as we can verify identity, UK citizenship, and proof of overseas residence — like a utility bill or employer reference — we can move forward.”
While expat cases do come with their own unique considerations — such as non-standard address formats, i.e. a PO box, or supporting documents in foreign languages — Family Building Society is well-versed in managing these nuances. What might be viewed as a barrier for brokers is simply part of the day-to-day for a lender with experience in the expat arena.
And turnaround times? “Often quicker than people expect,” said England.
“Yes, there are extra checks, but it’s still a straightforward BTL case. We don’t let it drag for six to eight weeks. We’re known for efficient case handling.”
England shared a recent win, where an expat client was living in Spain, retired, and drawing from their pension pot. Most lenders couldn’t work with them due to no verifiable income, but at Family Building Society, where money from investments or pension pots is considered, it wasn’t an issue.
“We were able to make it work in both scenarios. The cases were placed, and the brokers were delighted with how smooth it was.”
If a broker’s network doesn’t allow them to submit expat cases directly, brokers can contact one of the packaging partners that Family Building Society work closely with, who will not only be happy to help them place the case with us but very experienced in doing so.
“Even before submission, give us a call; if you don’t yet know your Family Business Development Manager, pick up the phone,” urged England. “If it’s not something we can help with, we usually know a lender who can. Once we’ve hand-held you through that first case and got it over the line, your confidence builds."
Final word: A market that’s only going to grow
Working with expats can be complicated -- unless you’ve got a lender like Family Building Society who actually gets it and has the track record to back it up.
So next time a client comes to you about anything expat, be confident in turning to Family Building Society for a comprehensive range of solutions that just might fit the bill.
“Don’t say no without exploring the options; we’re here to make what’s perceived as complex into something very doable,” Waller summed up. “These are UK nationals, buying or refinancing UK properties. With a few extra checks, you’re helping clients achieve long-term goals and growing your business.”
England agreed, adding that “we’re happy to walk you through your next expat case — and hopefully many more after that.”
