What makes a large overseas mortgage different?
The loan amount is one part of the case. Residence, nationality, income currency, employment, ownership and the property all affect the assessment. A London home for your family, a UK rental investment and a mixed-use building need different conversations. Tell Jack who will occupy the property and how it will be used before discussing a possible loan size. Neither GCC residence nor substantial assets guarantees access to a lender.
Separate income, wealth and cash for completion
Prepare a clear account of recurring income, variable earnings, business interests and assets. Explain which funds are available for the deposit and costs, which are committed elsewhere and how they were accumulated. Ask what evidence the lender will accept for each income stream. A portfolio valuation is not the same as cash available on completion, and dividends or retained business profits should not be counted twice.
Check the property and ownership early
Bring the address, asking price, tenure, floor area and intended use. Flag separate titles, additional buildings, letting arrangements or planned works. If buying through a company or another structure, obtain legal and tax advice before assuming a particular mortgage is available. The lender must accept both the borrower and the security; a structure chosen for one objective may narrow the finance options.
Understand deposit and repayment expectations
There is no single GCC deposit percentage or £1m+ lending formula. Criteria can change with loan size, property and country. As a specific buy-to-let example, Skipton International publishes different maximum loan-to-value bands at larger loan amounts; those are its own overseas BTL rules, not a market-wide residential policy. For interest-only borrowing, explain how the capital will be repaid and ask what evidence and review conditions apply.
Compare the whole borrowing plan
Compare the same loan amount and period, including payments, fees, early repayment charges, flexibility and the remaining balance. Ask whether any banking relationship or assets held with a provider form part of the terms. Where income or savings are in a different currency from the loan, consider how a sterling payment or deposit could change in your home currency. Use a budget with room for changes rather than relying on one conversion rate.
Allow for purchase costs and timing
Budget for legal work, valuation, advice, moving or letting costs and applicable property taxes. HMRC’s non-resident residential SDLT surcharge is two percentage points above the otherwise applicable rates in England and Northern Ireland, subject to its own residence tests and exceptions. Scotland and Wales have different purchase-tax systems. Ask your conveyancer to calculate your actual liability. Avoid committing to a completion date before the financial and legal dependencies are understood.