scottylou Posted February 27, 2014 Share Posted February 27, 2014 Hi, wonder if anyone can help. We have been living in Aus for 9 years and feel it is time to go back to scotland. We have our house on the market and so far no luck selling it. My husband has gone back to start new job in UK. We are both nurses - my husband has worked full time the whole time we have been down under without a break. He also worked continuously for nhs before moving out for many years. He went into Clydesdale bank today to validate an account he opened online prior to moving back (a few weeks ago) and they said he wouldn't be able to get a mortgage for 2 years as you need to have 2 years continuous employment. Also said that he wouldn't be able to get credit (overdraft) for 6 months (not fussed about overdraft so much, but the principle is daunting). So, can our time down under be recognised (never defaulted, always pay bills on time, great employment record). Has anyone done it before - moved back after a few years and successfully got a mortgage? Hoping someone can help/advise. Lou Link to comment Share on other sites More sharing options...
NicF Posted February 27, 2014 Share Posted February 27, 2014 Haven't gone back to the UK but we managed to get a mortgage in Oz after just being here two months on the basis that my OH was employed full time in the same field as he had been employed in the UK. I'd be talking to a different bank and taking in evidence that he was employed full time as a nurse in Australia. Actually, scrap that, I'd be talking to a mortgage broker who will know which banks are most likely to lend given your history. We got our mortgage here through a broker and I don't think we would have got one without their help. Good luck. Link to comment Share on other sites More sharing options...
scottylou Posted February 27, 2014 Author Share Posted February 27, 2014 Thank you for your reply - will try mortgage broker. Do you know any reputable uk ones? If we can't buy a home, then feel as if it kind of changes our thoughts on going back. This whole thing can be confusing and filled with so many twists and turns. Feel as if freefalling from an emotional rollercoaster. x Link to comment Share on other sites More sharing options...
Aunt Agatha Posted February 28, 2014 Share Posted February 28, 2014 Following with interest - we've been here for 10 years and hope we won't have to wait two years before buying! Just thinking aloud but I wonder if you'd get a mortgage more easily if you had someone who could be a guarantor? Might be a way around the two year thing. Link to comment Share on other sites More sharing options...
Guest Posted February 28, 2014 Share Posted February 28, 2014 There was another thread on this recently and some people had got mortgages sooner than two years & there was recommendations of mortgage brokers and banks - hopefully you will be able to find it. Mortgage lending has got much tougher in recent years and anything less than a 20% deposit will make it difficult - although there are government schemes to help with this. I know two families that have returned to Scotland and got mortgages within a year - one with the help to buy scheme so it can be done. We were told by a mortgage broker a year but that is more because we are self employed. Another option is to buy before you leave Australia with an ex-pat mortgage which will then be based on your Australian income - they are aimed at investors really so might be best to not tell them you plan to leave. We were lucky in that we still had an investment property in the UK so at least we"re not renting even if it isn't an ideal family home. Link to comment Share on other sites More sharing options...
scottylou Posted March 1, 2014 Author Share Posted March 1, 2014 Thanks for the reply. Have been following your threads and it is heartwarming to hear a happy ending story. Will have to see if i can find threads, have tried the search and nothing relevant comes up. Will try a mortgage broker to see if there is more we can do. Just have to get our aus home sold, then we can get over to join hubby. Cheers Lou Link to comment Share on other sites More sharing options...
jen85 Posted March 4, 2014 Share Posted March 4, 2014 I have heard this too from many banks, they won't lend unless you have been a resident for a minimum of 3 years. Doesn't matter how long you have been employed, that is what I have been told my multiple banks in the UK. I would rather rent and buy when I can personally, its not a big deal to wait abit. Link to comment Share on other sites More sharing options...
Aunt Agatha Posted March 4, 2014 Share Posted March 4, 2014 It can be a big deal to wait a bit if it means you have to take a shorter mortgage term when you do buy. I was thinking the same re renting until I realised that due to hitting the big 40, a 25 year mortgage is no longer possible. While I don't actually want to be paying off a mortgage until I'm 65, having to take a shorter term will mean high monthly repayments and it would have been nice to have the option of a longer term and smaller monthly repayments (with top ups when possible). Now, every year we rent knocks a year off our possible mortgage term as well as being "wasted" money in the sense that we are paying somebody else's mortgage. Link to comment Share on other sites More sharing options...
scottylou Posted March 4, 2014 Author Share Posted March 4, 2014 we definitely feel it is a big deal too. Annoying, when we have done the right thing over in Aus for the past nine years that they won't consider us. When do you head back Aunt Agatha? Link to comment Share on other sites More sharing options...
Aunt Agatha Posted March 4, 2014 Share Posted March 4, 2014 It is frustrating isn't it. We have a clean credit history and a good employment history etc. but it counts for nothing in the UK unfortunately. Our date isn't set in stone yet but most likely Jan 2015. What about you Scottylou? Link to comment Share on other sites More sharing options...
scottylou Posted March 4, 2014 Author Share Posted March 4, 2014 Well, hubby has already gone back to start new job (boo hoo) last week, and the kids and i are stuck here until we sell our home. Really looking forward to going back now Link to comment Share on other sites More sharing options...
Aunt Agatha Posted March 4, 2014 Share Posted March 4, 2014 Oh that's hard! Good luck with the house sale, I found that once we started the ball rolling we started getting itchy feet to just get going. Link to comment Share on other sites More sharing options...
scottylou Posted March 4, 2014 Author Share Posted March 4, 2014 Yes, definitely feeling the itchy feet. Link to comment Share on other sites More sharing options...
bell123321 Posted March 4, 2014 Share Posted March 4, 2014 Hope the house sells soon and you don't have to wait to long. Link to comment Share on other sites More sharing options...
scottylou Posted March 4, 2014 Author Share Posted March 4, 2014 Cheers Bell, it just seems that once I think I have got one thing sorted it kinda goes **** up again - suppose it is a massive move and naive to expect it all to go totally smoothly (although that would be nice) : ) Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.