Suffolk Building Society has reported a sharp increase in expat mortgage applications, with activity remaining resilient despite heightened geopolitical tensions in the Middle East.
The building society said it recorded a 140% increase in expat cases following the outbreak of conflict in Iran when compared with the previous two-month period.
Year-on-year figures also pointed to continued strength in the sector. Comparing March and April 2026 with the same period in 2025, Suffolk said expat applications rose by 102%, while applications above £1 million increased by 33%.
Charlotte Grimshaw, head of intermediaries at Suffolk Building Society, said a range of borrower types continued to drive demand for UK property among British nationals living overseas.
She said: “Expat lending is similar to standard UK lending in that there are all types of borrowers – first-time buyers through to those enjoying retirement abroad. The latest ONS data highlights emigration is highest among 25-34-year-olds, who are typically in prime property-buying years.
“There are several reasons why these expats choose to own a property in the UK, whether it’s as an investment (buy-to-let) or wanting to maintain a residential property for family to reside in, or for when they finish working abroad and return home.
“Despite the conflict in the Middle East, we are still seeing a fairly consistent level of activity in the region. From our experience it’s attractive to younger applicants, (singles and couples) which could explain why we’ve seen no drop off in demand.”
LENDING REMAINS ACTIVE ACROSS GULF STATES
Suffolk’s figures showed application volumes from British nationals living in the Gulf states remained stable between March and April this year compared with the same period in 2025.
However, the lender said the geographical spread of applications had widened. In 2025, applications came from residents in four Gulf states – the UAE, Saudi Arabia, Qatar and Oman – while this year applications originated from all six Gulf states.
The society said ongoing investment in its expat proposition had contributed to increased lending volumes. Alongside residential and buy-to-let mortgages, it has introduced products including expat holiday let and expat self-build mortgages, while also updating criteria and customer processes such as electronic ID verification.
Recent cases highlighted the complexity of some expat applications. Suffolk pointed to one case involving a yacht stewardess purchasing a new-build first home using a joint borrower sole proprietor arrangement supported by her father’s retirement income and investments.
Grimshaw said brokers working in the expat market needed lenders willing to take a pragmatic approach to complex cases.
She said: “We know expats are anything but a one-size-fits-all group, and that these cases can be complex. Brokers can spend hours working with a client before an enquiry even reaches a lender, so this effort must not be wasted. Part of our success comes from always starting with the question, ‘How can we make this work?’
“Expat business can be a particularly rewarding area for brokers, both in terms of opportunity and long-term relationships. For any brokers thinking about dipping their toes in the water, finding a lending partner with a proactive, can-do approach will make all the difference.”
