Many Hong Kongers are already planning to sell their property in Hong Kong and to buy a new one in the UK. There is also great demand for UK property which is still very affordable and offers good yields and potential capital growth. Ying Goi Dim speaks to Liquid Expat Mortgages about how to secure a mortgage in the UK. The company is a UK specialist mortgage broker with over 13 years of experience in finding UK expat mortgages and foreign national mortgages. Liquid Expat Mortgages has helped many Hong Kong residents find their ideal mortgage. Its qualified brokers Rebecca Pickard and Judith Choi are both Hong Kong based and provide service for Hong Kong residents and UK Expats living in Hong Kong. Judith is from Hong Kong, she can offer good insight and valuable advice to Hong Kongers looking to purchase property in the UK, and, if required, can meet with potential customers to explain some of the finer details. 

Audio summaries in Cantonese are by Ying Goi Dim.

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Overseas mortgage advice ⦁ 做海外按揭嘅提議

A lot of Hong Kongers are first time buyers of UK properties. Do you have any advice for them? Can you please break down the process and the fees for securing a mortgage in the UK? ⦁ 英國首次置業做海外按揭嘅提議同大致程序

One of the most common issues we hear and see is that people try to source a UK mortgage through their existing bank. It is advisable, however, to use a specialist broker when attempting to secure a non resident UK mortgage. They have the knowledge and lender connections to provide a variety of financial options, and have the infrastructure and support to deal with enquiries from Hong Kong residents. Many people will be taking out a UK mortgage as a non resident for the first time. The best option is to go to a specialist broker who is used to dealing with non UK residents on a daily basis and familiar with lenders providing finance to non UK expats or non UK investors. A specialist mortgage broker will be aware of all lender requirements and therefore can facilitate and smooth the process for a Hong Kong buyer. 

The process and fees for securing a mortgage can vary from lender to lender. Working with a specialist broker like Liquid Expat will help guide you through any necessary requirements, such as providing and authenticating ID, proof of address and any other specific requirements a lender may have. Once your requirements are assessed the broker will offer advice on the fees payable. 

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Earning HK salary in HKD ⦁ 賺香港人工

Is it possible to get a UK-based mortgage with a HK salary? ⦁ 賺香港人工可唔可以做到英國按揭

This is exactly the scenario Liquid Expat Mortgages deals with every day. The vast majority of our customers enquiring and taking out a UK mortgage are paid in HK dollars. Every mortgage is different as each applicant has different circumstances. Factors such as income multiples, affordability and employment status can and do affect any mortgage application as a non UK resident. Other factors are LTV or Loan to Value (how much deposit you want to put down) as well as the type of mortgage you wish to take out, such as interest only or capital and repayment mortgages. This is why anyone thinking of taking out a UK mortgage should speak to a specialist broker. You’ll be able to understand the options available and our systems are set up so that you can receive a Decision in Principle within 24 hours. 

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Property refinance ⦁ 加按套現

How much can Hong Kongers borrow if they refinance their existing property in HK, assuming the property in HK is valued at around £500,000? ⦁ 假設我香港層樓值50萬英鎊，做加按Refinance可以借幾錢

Whilst we do not refinance HK property itself, you can still obtain a UK mortgage. It’s best to speak with a specialist broker who can advise on the best way to go about obtaining a UK mortgage. For example a large number of our customers have sold their Hong Kong property because they have been able to receive a great price for it. With the proceeds they have been able to buy in the UK, where property is comparatively cheap when compared to Hong Kong. A number of our initial enquirers have actually purchased a property outright when they have sold their own Hong Kong property, and with the money they have left over they have been able to purchase an investment property. In this situation an interest only mortgage is a great finance option as it means the regular repayment covers the interest on the capital that’s been borrowed. Overpayments can be made to pay back the capital borrowed when it suits you or fits in with your investment objectives. Many of our customers have started a property portfolio in this way. 

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Buy-to-let mortgage ⦁ 出租按揭

A lot of Hong Kongers are buying property for a buy-to-let purpose. Some noticed international lenders are more reluctant to offer mortgages for that purpose. Is this true and why? ⦁ 想喺英國置業嚟出租 Buy-to-Let，但留意到越嚟越難做出租按揭，點解呢

Many international lenders are reluctant to lend to overseas buyers as they feel they cannot fully grasp their financial situations properly and so they might be viewed as “higher risk.” Specialist brokers are usually able to find a wider variety of UK buy-to-let mortgages that best meet buyers’ needs, especially when it comes to interest rates, length of mortgage and deposit amount. As many international lenders and banks have turned to supplying other bespoke services, such as high net worth mortgages or premium products, specialist brokers have taken over the role of supplying buy-to-let mortgages to overseas buyers. As international lenders have created more stringent criteria for overseas buyer mortgages in general, they have allowed specialist brokers to not only create a wider range of bespoke buy-to-let mortgage products, but also deliver a level of service and fulfilment international lenders can no longer compete with. The fact that many specialist brokers also operate at a local level shows their commitment to filling the void left by international lenders. 

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Mortgage broker fees ⦁ 按揭貸款顧問收費

Our readers have been quoted £900-£1500 for mortgage broker fees. Does this sound like it’s in the ball park? ⦁ 英該點嘅讀者所搵嘅按揭貸款顧問收大約900至1500英鎊，呢個價錢係高定低

These tend to be the average fees for brokering a mortgage, although Liquid Expat Mortgages is at the lower end of the above scale. The customer should always weigh up the value of the advice, experience and the support they receive when looking to source a UK mortgage against the amount of time, effort and knowledge they would require if they tried to find a mortgage themselves.

For example a Liquid Expat Mortgage broker will:

• Be able to converse in Cantonese both in our Hong Kong office with Judith Choi, and back in the UK with Cantonese and Mandarin speaking support team. 
• Remain independent allowing access to a wider range of mortgage lenders and mortgage deals.
• Help you find the best terms for your situation from the widest panel of lenders. 
• Providing the right documentation and assistance in returning it back to the UK.
• Receiving regular updates on your application with a dedicated support team assisting our mortgage brokers.
• Working on your behalf with all parties to ensure a seamless process from application to completion.
• No need for any client to be in the UK. Liquid Expat Mortgages can communicate via email, by phone or by video call to ensure any paperwork can be checked before submission.