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About Aussiepom

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  1. Aussiepom

    UK Buy to Let Mortgage Solution

    Really does depend on your long term objectives. We want to keep our UK property because we may want to use it in the distant future and we're quite happy with it slowly paying itself off. In terms of dealing with the headaches of renting. We use a fully managed letting service which means that all the annoying things get dealt with by the letting agent, we just have to cough up money when things change. It's no big deal for us and they're a trustworthy ARLA registered agent. The mortgage interest we pay is deductible here which is nice as it was being reduced just when we left the UK. In terms of income tax, we went through Alan Collett (and the firm he works with) for the Aussie returns, we do our own UK self assessment tax. Our only UK income is from property (total income is less than our joint UK tax free threshold) and it's pretty easy to do once you know how to do it.
  2. Aussiepom

    Remortgaging UK Property whilst in Auz?

    see my post above about UK buy to let mortgage solution. I got a UK highstreet mortgage here in Aus, paying a nice low interest rate and 400 quid in fees.
  3. Aussiepom

    UK Buy to Let Mortgage Solution

    HI There, I wrote an article about this approx 2 years go: At that time (and presumably now), subject to conditions, you are able to purchase a UK mortgage through HSBC. I.E. a product for the UK highstreetnot an expat through their expat division. I did have to hang up and call again a few times to get past idiots but it was possible and I wasn't the only one on this forum successful.
  4. Aussiepom

    Remortgaging UK Property whilst in Auz?

    It may be too late but I posted this in 2018:
  5. I may be too late here... but there is an option to get a BTL mortgage through HSBC and likely Barclays at UK interest rates. I’ve written an extensive guide in how to do this in 2018 when I remortgaged with HSBC.
  6. Aussiepom

    Rental income from UK

    Call HMRC. They're really good +44 161 931 9070 They will be able to help you with this one.
  7. Aussiepom

    Rental income from UK

    If you are a British citizen you will still have your UK tax free threshold. You may not have to pay tax in the UK if the property rental income (minus expenses) is less than your UK tax free threshold. Notwithstanding this you do need to submit a self assessment tax return containing the high level P&L details (you can do this on a 'cash basis'). If you've not registered for self assessment tax in the UK i'd hop to it quickly as you will be required to declare the income even if you do not pay tax on it. You will have to declare the Income in Australia and the chance are you will end up paying a little tax on it, so be prepared for this. Depending on the age of the property and recency of any major building work done to it, you may be able to get a depreciation report done, which can be treated as an expense in your P&L. All of this is relevant to the Australian tax return though (provided you're not obligated to pay tax in the UK due to being above the threshold)
  8. Aussiepom

    Bridging visa on 820/801

    The bridging Visa takes effect when the tourist visa expires as stated above. The key is to understand what makes it expire: If you enter Australia it expires 3 months from the date of entry. unless; You leave Australia and re-enter; in which case the 3 months will start again and expire at the end of 3 months This cycle will continue until the last date of entry, so theoretically the the last possible expiry date is roughly 1st may 2022 Bridging visa kicks in upon expiry so to get on to the bridging visa asap, then you'll need to stay in Australia (i.e. no trips to New Zealand, Bali, or wherever) for 3 months. The bridging VISA will give you work rights if your sponsor is an Australian citizen. You'll also be able to apply for medicare. (these were the facts 12 months ago, not sure if things are different now)
  9. Aussiepom

    UK Buy to Let Mortgage Solution

    Great Update QuantitySurveyor. Glad to see some positive progress. Wishing you all the best with it.
  10. Aussiepom

    UK Buy to Let Mortgage Solution

    I had previously been an HSBC customer but was not one at the time of application. It may be that my status as a previous customer eased the process of ID verification or AML requirements but i just don't know i'm afraid. Perhaps go in and have a chat with them, see what they say?
  11. Aussiepom

    Refused Need Help

    Haha, that's just too funny.
  12. Aussiepom

    Aussie tax on UK property

    I understand that if you are a British citizen, you should still be eligible for your tax free allowance (although you will be taxed on that in Australia). I believe if that if you have lived in the property for 6 months or more, you will not be treated as a foreign investor for mortgage purposes (unless you have multiple investment properties already) - and as such would be eligible to have standard UK style mortgage in Australia. I'm assuming this because the only mortgage provider which provides you a domestic style UK mortgage, if you apply from Australia as a tax resident of Australia is HSBC, and to offer you this mortgage they require that you have lived in the property for at least 6 months since you've owned it. I've made an extensive post about how I went about securing a mortgage with HSBC on my UK property whilst resident in Australia. Others in this forum are following suit as the ability to do this with HSBC is saving thousands for people. Note that i'm not sure depreciation is possible on old properties as they have been assumed to have depreciated already. Any new builds or renovations are eligible for depreciation but there are time limits.
  13. Aussiepom

    Aussie tax on UK property

    I think the answer to this will be down to whether you will be an Australian resident for Taxation purposes. If you are, then any income you earn worldwide will be subject to taxation here and subject to our taxation rules; unless of course you've been taxed already on it and there's an agreement in place (which there is). So if you are a tax resident here, then the question is down to whether the Australian taxation rules will permit you reduce your taxable income by your interest payments. Will you be eligible for the UK tax free threshold when you're in Australia?
  14. Aussiepom

    Telstra redundancies

    This isn't round one for Telstra. I have a friend who had been working there 10 years (also English) who was made redundant around this time last year. He got a stonking payout lucky bugger. Telstra is a massive business, I wonder where in the business those job cuts are coming from?
  15. Aussiepom

    Refused Need Help

    They make it easy by citing a bunch of things you need to cover in the response. When i say easy, you still need to put pen to paper and put the effort in, but you don't need to scratch your head thinking about which topics to cover. I do remember finding it exceedingly tedious.