pope6 Posted August 11, 2013 Share Posted August 11, 2013 i just spoke to someone from Aussie Mortgages and he told me some lenders will accept equity in a UK house towards a deposit here. It seemed so unlikely that i didn't push him on which banks and thought I'd come home to do my own research. I can't find anything obvious about it on the net, so my question is will an Oz bank accept equity that is in a UK property as part of a deposit or in lieu of mortgage insurance. To be clear I'm not talking about me taking the money out via a UK bank Thanks in advance Link to comment Share on other sites More sharing options...
Rupert Posted August 11, 2013 Share Posted August 11, 2013 Never heard of any doing so, no. Link to comment Share on other sites More sharing options...
Peach Posted August 11, 2013 Share Posted August 11, 2013 Surely the obvious thing to do would be to ask the man from Aussie? What harm would there be in asking? Link to comment Share on other sites More sharing options...
Geraldine Posted August 11, 2013 Share Posted August 11, 2013 I have seen this advertised but not sure who offers it, lets us all know if you hear anything more about it. Link to comment Share on other sites More sharing options...
pope6 Posted August 11, 2013 Author Share Posted August 11, 2013 thanks Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted August 12, 2013 Share Posted August 12, 2013 http://www.pomsinoz.com/forum/money-finance/166840-mortgages-grants-buying-property-update.html#post1936298661 Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted August 12, 2013 Share Posted August 12, 2013 I know when we first arrived we wanted to do something similar but the ANZ said no one did this, now this was many moons ago so things may have changed but I wouldn't think it is possible as, like we were told, how would they legally get the equity if you breached the repayments, yes possible but an absolute nightmare for them, that's why debt collectors don't chase you over here for a UK debt Link to comment Share on other sites More sharing options...
pope6 Posted August 12, 2013 Author Share Posted August 12, 2013 I know when we first arrived we wanted to do something similar but the ANZ said no one did this, now this was many moons ago so things may have changed but I wouldn't think it is possible as, like we were told, how would they legally get the equity if you breached the repayments, yes possible but an absolute nightmare for them, that's why debt collectors don't chase you over here for a UK debt Thanks Pom Queen. That's what i thought when it was mentioned Link to comment Share on other sites More sharing options...
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