SKW Posted January 31, 2013 Share Posted January 31, 2013 Have any of you got or looked into getting an ex-pat mortgage. We did look into it a couple of years ago but it didn't happen for a number of reasons. Now we are planning to go back later this year we are looking again as we've seen how high the rental prices are in the area we want to go back too. We thought we might be able to buy somewhere whilst still here with the help of family doing the viewings for us. I know there are risks but I like the idea of having a home to go back too, we sold before we came out here and we rent here so no ties here. Just looking for any advice/ experience. Thanks in advance. Link to comment Share on other sites More sharing options...
patsmb Posted January 31, 2013 Share Posted January 31, 2013 We did not need a mortgage when we went back in 2001 but had no credit rating because we had been here 20 years - how ever after 6 months our bank gave us a 200 quid visa card which we used an paid off regularly By the time we had been there 12 months we could get as much debt as we wanted ! I think a lot depends on how long you have been out of the UK Link to comment Share on other sites More sharing options...
Cerberus1 Posted January 31, 2013 Share Posted January 31, 2013 Read an article about this before christmas, saying how it was getting more difficult as lenders were pulling out of the expat mortgage market - http://www.telegraph.co.uk/finance/personalfinance/expat-money/9665271/Lloyds-bank-pulls-out-of-expat-mortgages.html Link to comment Share on other sites More sharing options...
Guest Posted January 31, 2013 Share Posted January 31, 2013 An expat morgage is one where you dont have to be living in the UK !! There just as easy to get and I think you just need a larger amount of capital to put down than you would if you were in the UK. Just google it and loads will come up Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted January 31, 2013 Share Posted January 31, 2013 Have a peak at this link http://www.pomsinoz.com/forum/money-finance/167707-british-expat-mortgages.html Link to comment Share on other sites More sharing options...
Conniebygaslight Posted January 31, 2013 Share Posted January 31, 2013 Have any of you got or looked into getting an ex-pat mortgage. We did look into it a couple of years ago but it didn't happen for a number of reasons. Now we are planning to go back later this year we are looking again as we've seen how high the rental prices are in the area we want to go back too. We thought we might be able to buy somewhere whilst still here with the help of family doing the viewings for us. I know there are risks but I like the idea of having a home to go back too, we sold before we came out here and we rent here so no ties here. Just looking for any advice/ experience. Thanks in advance. We did just that, we got a friend to view our house and we picked up the keys the day after we landed. It wasn't easy and at times we felt like throwng the towel in but so glad we did it. There is a current tread running on here about uk mortgages for expats. (think it's much harder than when we did it and that wasn't easy). Sure there will be a way. Good luck Link to comment Share on other sites More sharing options...
paisleylass Posted February 2, 2013 Share Posted February 2, 2013 Try a broker. We were forced to swith from our residential to a BTL mortgage while in Australia, which seemed impossible. I gave up on direct contact and instead used John Charcol brokers http://www.charcol.co.uk/. Great service, relatively pain free (though you will likely need to fork out for a notary public to certify some documents) and would have been fee-free except the mortgage was quite small so the broker couldn't get the full fee in comission from the lender and charged us the balance - still not too bad. Link to comment Share on other sites More sharing options...
SKW Posted February 2, 2013 Author Share Posted February 2, 2013 Thanks for all your comments, we're crunching the numbers at the oment as we have been told it's possible but with a higher deposit. Not sure we can stretch to the 25% they want, so looking into all our options. Link to comment Share on other sites More sharing options...
Tea4two Posted February 10, 2013 Share Posted February 10, 2013 You are lucky! I started looking in to it as an investment as prices here are too high in comparison and the houses aren't as well built either! A lot of the major banks have pulled out of expat mortgages as of last year and a few building societies will entertain them. We don't have a 25% deposit so are now looking at a guarantor (parent) - does anyone know if this helps? Also can I ask which bank/building society said it was possible? Thanks xx Link to comment Share on other sites More sharing options...
MartinRo Posted February 11, 2013 Share Posted February 11, 2013 To be honest at the moment I think purchasing a property would be a bad move. Do you not see the market going sout? I have been renting for three years and yes it was difficult getting a place and rental prices are high but I see the market going the same way it has in the UK. Whats your opinion on the market? Link to comment Share on other sites More sharing options...
Guest Posted February 12, 2013 Share Posted February 12, 2013 MartinRo read the thread haha I'm bumping this as as I'm interested in what lenders people used Link to comment Share on other sites More sharing options...
SKW Posted February 13, 2013 Author Share Posted February 13, 2013 You are lucky! I started looking in to it as an investment as prices here are too high in comparison and the houses aren't as well built either! A lot of the major banks have pulled out of expat mortgages as of last year and a few building societies will entertain them. We don't have a 25% deposit so are now looking at a guarantor (parent) - does anyone know if this helps? Also can I ask which bank/building society said it was possible? Thanks xx Barclays was one and the others I hadn't heard of but were mentioned to us by a broker. Some of them wanted a 30% deposit. It was suggested to us to get a joint mortgage with parents or someone in the family for their credit rating as we have been out the country for a while. If you google ex-pat mortgages a load of brokers come up that might be able to help. Good luck. Link to comment Share on other sites More sharing options...
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