Brokers warn many returning borrowers could be pushed towards specialist lenders after years outside the UK financial system
Wealthy Britons reportedly leaving Dubai for luxury UK rentals may find returning to the UK mortgage market more complicated than expected, brokers say.
A report in The Times suggested enquiries from the UAE have risen by around 15%, with some returning residents opting for short-term UK rentals costing as much as £5,000 per week. The shift follows rising geopolitical tensions in the Middle East, including drone attacks linked to the Iran conflict and warnings over free speech in the region.
While many returning residents may initially rent while assessing their options, brokers say relocation often leads quickly to enquiries about purchasing property or securing finance in the UK. However, borrowers who have spent years living and working abroad do not always fit easily into the UK’s mainstream lending system.
Stability over tax
Nouran Moustafa (pictured, top left), executive financial and mortgage adviser at Roxton Wealth, said geopolitical uncertainty can quickly shift the priorities of globally mobile clients. According to Moustafa, high-net-worth individuals with families and established wealth rarely wait for situations to deteriorate before reconsidering where they want to live.
“It’s weird how everyone moved to Dubai saying the UK has issues and now with the first noise in Dubai all of them are running back,” she said.
“It’s a good reminder to everyone that no matter how posh some places might look like stability and safety are more important that running away from tax.”
Moustafa said returning expats frequently begin by looking for a secure base in the UK, but the financial reality of re-entering the UK mortgage market can come as a surprise.
Specialist lending reality
Although many returning borrowers are financially strong, their circumstances do not always align neatly with high street lending criteria. Expats often have income spread across multiple sources, including overseas companies, bonuses, allowances or foreign currency earnings, which can complicate standard underwriting.
After several years abroad, even wealthy clients may find they do not fit easily within lenders’ typical “tick-box” requirements, particularly where residency status or UK financial history is limited.
“When taking mortgages, it's important to remember that all the tax they saved, they will pay it back in the off high street interest rate as none of the high streets would accept them now.”
As a result, brokers say many returning borrowers may need to rely on specialist lenders capable of assessing more complex financial profiles, even where clients have substantial assets or income.
More than mortgages
Amar Dhanota (pictured, top right), director at London FS, said mortgage decisions for returning expats are rarely made in isolation. Clients relocating from overseas are often dealing with several financial considerations simultaneously, including tax residency, employment arrangements and the timing of their return to the UK.
“Clients in this position are often dealing with moving parts beyond the mortgage itself,” she said.
“Someone returning from Dubai may need to think about tax residence, timing, and how quickly they re-establish UK ties - so it is important that finance decisions are coordinated properly with tax advice.”
Brokers say that as geopolitical uncertainty reshapes global mobility, enquiries from internationally based clients could become more common. But for returning expats, securing finance in the UK may still depend on specialist lending and careful financial planning.
