Case Study: UK Expat Avoids Standard Variable Rate with Simple Product Switch
DIRECTOR AND MORTGAGE ADVISER
Overview
Our client, a UK citizen based in Saudi Arabia and working in professional services, owned a residential property in London which he planned to sell upon returning to the UK in around a year. As his current fixed-rate mortgage neared expiry, he assumed he had no options due to being paid in Saudi riyals and living abroad. He was resigned to moving onto his lender’s standard variable rate — typically a more expensive fallback option once a fixed deal ends.
The Challenge
With only a few days left before the fixed rate expired, the client was unaware he could secure a new product with his existing lender. He assumed that being overseas would disqualify him from switching. Without intervention, he would have defaulted onto the standard variable rate, significantly increasing his monthly payments for the next year.
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Our Solution
We quickly gathered the required documents and contacted his current lender, confirming they were happy to offer a new deal despite his expat status and foreign currency income. We arranged a straightforward 1-year fixed-rate product that matched his plans to sell the property in a year’s time. The new rate was applied seamlessly to begin as the old one ended — avoiding even a single day on the standard variable rate.
The Outcome
The client moved directly from his expiring deal into a new fixed-rate mortgage without disruption. He avoided unnecessary costs, gained short-term rate security, and saved time and hassle — all from overseas. It was a simple solution, but one that only came from knowing the lender’s criteria inside out.
What Our Clients Say
What We Can Do for You
If you’re a UK expat with property back home, don’t assume you're out of options. Even with foreign income or limited time, we can work quickly to secure a new deal with your current lender — often avoiding higher costs associated with standard variable rates. A quick call could save you thousands.
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YOUR HOME MAY BE REPOSESSED IF YOU DON’T KEEP UP REPAYMENTS ON YOUR MORTGAGE
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APPROVED BY THE OPENWORK PARTNERSHIP ON 27/06/2025