UK house

[Heather Law]

Well...still haven't sold our UK house! Does anybody know if its possible to clear our UK mortgage by adding it onto our Aussie one? Just to keep all our finances together. ..

We plan to srart eenting it again and wait until the UK property market picks up again before we try selling it again. ..

[Parley]

You won't find an Australian bank willing to take a security over your UK property.

Unless you will have lots of equity in your new Australian home and potentially borrow more against that to discharge your UK mortgage.

 

I don't see the problem though. You can easily keep paying your UK mortgage from Australia by bank transfer.

[oz bound pom]

Hope it sells for you soon, Market is definitly moving, we put ours on and after the first 4 viewings on a Thursday we had 3 offers and by the Monday had 3 above asking price offers! Talk about crazy! Just hope one of them goes through to completion. Have worked like absolute nutters to prep it so at least all the hard work was worth it. Do you have good equity in the house?

[Rupert]

Well...still haven't sold our UK house! Does anybody know if its possible to clear our UK mortgage by adding it onto our Aussie one? Just to keep all our finances together. ..

We plan to srart eenting it again and wait until the UK property market picks up again before we try selling it again. ..

 

It would be difficult practically to find a willing lender. Also it is not a great idea, it is best to keep assets and liabilities in the same currency.

[newjez]

As parleycross said.

 

The UK market is much better than it was, depending on where you live. The exchange rate has also moved in your favour. (There may be tax implications of that)