2and3

In this thread 4 years was mentioned http://www.pomsinoz.com/forum/money-finance/201784-australian-resident-seeks-uk-mortgage.html We have been on one for a bit over 2.5 years now. I get the impression when I rang them up a few times that the people don't really know themselves whats what. No hard and fast rules as such.

Hello. Well, after reading through what little paperwork we did bring with us, I rang them back again and the bloke had a look at it , put me on hold then came back as said as we were a 'special case' lol we can switch to a proper buy to let -rates a bit higher. My next question was about changing to IO, he said we were unable to do this but I got the feeling that this bit was perhaps beyond him and once again it may be a case of speaking to another person. looking at the paperwork it does appear that we 'should' be able to change. But one step at a time. He did go through rental amounts etc and it having to cover 125%. Gave me a phone number if we wanted to go ahead with it and that department would deal with it and he made a note of the fact we could switch. We have been on PTL for 2.5 years now -which is longer than I thought we would be able to do it for. So thanks for the 4 yr figure. For anyone reading this who has not yet left and is leaving a house behind, make sure you look into sorting this stuff out before you do go ! I did get a response from one other company that was mentioned on here and it was a yes from them but as the moment have not looked into doing as yet. Mainly because we are undecided what to do ourselves for the best ! Just sell the uk house and use the money for a ppor in oz, or an investment in oz as the area we are in is expensive for a family home or keep the uk house as it is -although really as an investment the returns are not the best or, buy a uk investment with returns !! My head is fried ! With regards taking out equity, the way I read it is you cant whilst on PTL but if you change to BTL to can -depending on rental income, loan to value and all that. So if they are allowing me to change to BTL - which they are, if the sums are correct I Should in theory be able to take money out. But that's the situation as it is. If I think of anything else I will let you know !

Hello. We are in the situation that we would like to take some equity out of our uk property in order to have a deposit to buy in oz and not have to pay the LMI. We are with the BOI on a permission to let mortgage at the moment . I know they said we would be unable to take any money out of the house when we first did this with them. My question is how can we get some of our equity ? Do we need to remortgage? or is will it be a case of selling the property? (we are going to sell but from past sales in the area it can take a very long time to sell -but yes who knows) Is there anyway we can get the money for a deposit at all ?? Any pointer would be much appreciated.

Ugh - sooo confused !! What is BR tax ? Have I got this straight? We get the form from HMRC in the UK - overseas landlord. Fill in along with other UK earnings. Then when we do our oz tax we add the rent? from the house to our earnings here and also add in the tax we have already paid for said house in the correct box. We have been renting our house out for the last 2 years -but no agent. Our UK accountant last year never did any of this and now this years one is picking up on it and how the lady renting the house should have been doing some forms ?? So confusing. Yes our lender knows we are in Oz and has renewed our permission to let -but that's about the only 'formal' thing we have done. Oh I feel more paper work heading our way !!

Are you able to keep it running in your name and take the apprentice on ?Depends on him and how able he is. Perhaps you just want to cut and run? Have you regular customers/a good client base? Cause really,it has to be worth something. I mean, How much would we all love to be handed a 'business' with regular clients when we arrived in OZ ??

I see you have your visa, when you going? Have you any idea what you are doing with the u.k work?

So if hubbie was to set up on his own, as a contractor,it would not in theory matter how he got his A grade?? And how about the contractors license, does that differ from state to state ?

How do you go from a license to contractors?

Have any self employed people moved?? What did you do with your business when you left???

So what were the transcripts you sent?? still think we may be missing something???

Not sure what evidence of operation non financial means? Are they want proof you are working?? send your accounts?? Here is another one we have just had today - for vic ss - Please note our panel assessors have recently requested all applicants for the nominated occupation Electrician to provide any ‘qualification transcripts’ and ‘licences’, if these are available. I acknowledge that you have already provided many documents in this respect, however if there are any that you have not yet included that would be classed as transcripts or licenses please send these now. Any idea what Transcripts are ?? Feel like perhaps we have not sent them something really important to all this??