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Expats in Greece:
How to Secure a UK Mortgage

Are you living and/or working abroad in Greece and looking to purchase or remortgage a property in the UK?

Check your eligibility in 2 mins.

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Looking to secure an expat mortgage? We can help.

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Specialist Expat Lenders

Through our extensive network, we can secure financing from UK banks that provide tailored mortgages products specifically designed for people residing in Greece. Including, exclusive products at reduced interest rates.

Flexible Service

We can assist outside of normal working hours to reduce the impact of time zones (2 hours between UK and Greece). We review your financial profile and assess the options available to you. 

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Experienced Advisors

We can assist in remortgaging a former residence, arranging finance for a buy-to-let or purchasing a new home in the UK. We have a long history of helping expats in Greece, especially those based Athens and Thessaloníki.​

Let's Get Started

3 Simple Steps.

Sourcing Lenders

1. Initial Assessment

We swiftly assess your eligibility and affordability across our expat lenders. 

Complete our 2 minute mortgage availability check to get started.

Initial Consultation

2. Schedule Your Pre-application Consultation
 

Once we've reviewed your initial details, a qualified mortgage advisor will contact you to schedule an initial consultation. During this session, your mortgage expert will take a closer look at your application and discuss the options available to you.

Personalised Plan

3. Receive a Personalised Recommendation  

Your mortgage expert will build a personalised plan to meet your requirements. As an expat, securing a mortgage can be challenging, but there are specialised mortgage products available. You may need a larger deposit, typically around 20-25%, and a strong credit history. 

What you need to know:

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1. Eligibility Criteria


As a UK citizen/national living in Greece, you're classified as an expat borrower. Lenders have specific criteria for expats, which differ from standard applicants. ​​

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2. Deposit Requirements

 

Expat mortgages often require a larger deposit, typically between 15% to 25% of the property's value. You'll need to provide evidence of your deposit's source to comply with anti-money laundering regulations.

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3. Credit History

 

  • Maintaining a good credit history in the UK is essential. Lenders will check your UK credit report to assess your creditworthiness.

  • International Credit Reports: Some lenders might consider your credit history in Greece, but this is not common.

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4. Documentation Needed


Prepare the following documents:

  • Identification: Valid UK passport.

  • Proof of Address: Utility bills or bank statements showing your address in Greece.

  • Income Verification:

  • Employed: Recent payslips.

  • Self-Employed: Tax returns.

  • Bank Statements: Typically, three months' worth to verify income and outgoings.

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5. Currency Considerations

 

Lenders may 'stress test' your income to account for potential currency fluctuations that could affect your ability to repay the mortgage. Often, they will base their calculations on a 2 year low of the Euro vs Pound from Xe.  ​


6. Legal and Tax Implications

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  • Understand your tax obligations in both the UK and Greece, especially if renting out the property.

  • Be aware of stamp duty land tax (SDLT) in the UK, which may be higher for non-resident buyers.

  • Use a solicitor familiar with expat purchases to handle the legal aspects and ensure compliance.​

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7. Property Purpose


Residential vs. Buy-to-Let is an important difference. To clarify:

 

  • Residential Mortgages: For properties you or your family intend to live in when in the UK.

  • Buy-to-Let Mortgages: If you plan to rent out the property. Lenders will assess projected rental income.


8. Additional Costs

 

  • Valuation Fees: The lender may require an in-person property valuation or a virtual valuation.

  • Application and Product Fees: The lender may charge fees, depending on the mortgage product.

  • Legal Fees: Covers the solicitor's work on the property purchase.

  • Currency Exchange Fees: Costs associated with transferring money between Euros and Pound Sterling.​​

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9. Maintaining UK Financial Ties

 

  • Having an active UK bank account can facilitate mortgage repayments and may be required by some lenders.

  • Remaining on the UK electoral roll can positively impact your credit score.

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10. Tips for a Successful Application

 

  • Pay off debts and ensure bills are paid on time to enhance your credit rating.

  • A bigger deposit can improve your chances of approval and access to better rates.

  • Regularly consult with your mortgage advisor to stay updated on any changes that could affect your application.

 
 
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