Lloyds Banking Group withdraws ex-pat mortgage range

by Aaron Strutt

Nov 09 2012

Lloyds Banking Group is in the process of changing their mortgage lending policy and looks set to stop lending to British ex-pats.

Halifax and Birmingham Midshires notified Trinity Financial that they will stop accepting applications from British people working abroad. Halifax previously lent to ex-pats providing they returned to occupy the property within four years.

Lloyds explained: “We are undertaking a review of our mortgage proposition for expatriate customers. Whilst this review is on-going, new mortgage and further advances will not be available for expatriate customers across all Lloyds Banking Group mortgage brands.”

Aaron Strutt, a broker at Trinity Financial, says: “Some banks are still lending to ex-pats but there are not as many as before. Lloyds recently reported that less than 1% of their applications are from ex-pats.”

November 9, 2013