JocelynD Posted May 17, 2014 Share Posted May 17, 2014 Hi, we are having a hard time finding a UK mortgage lender that will give us an expat mortgage so that we can buy a house before we return to the UK. We have a 33% deposit, income to service the loan and no debts. Has anyone done this? I would love to hear any tips or advice. The main problems seems to be that we live in Australia. Thanks in advance. Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted May 17, 2014 Share Posted May 17, 2014 Hi and welcome to the forum, I am sure Alan Collett knows the answer Quote Link to comment Share on other sites More sharing options...
Rupert Posted May 17, 2014 Share Posted May 17, 2014 Hi, we are having a hard time finding a UK mortgage lender that will give us an expat mortgage so that we can buy a house before we return to the UK. We have a 33% deposit, income to service the loan and no debts. Has anyone done this? I would love to hear any tips or advice. The main problems seems to be that we live in Australia. Thanks in advance. Do you have a UK income lined up? I lived overseas previously, bought a house before we returned and got a normal mortgage with my UK bank that I have a long history with. We had about 50% mortgage, but the key was proving the UK income for our return, well that and my long history with the bank. Have you maintained a bank account whilst you have been away? To be honest, this could well be futile and something that just has to wait until you get back. Quote Link to comment Share on other sites More sharing options...
paisleylass Posted May 17, 2014 Share Posted May 17, 2014 Try a mortgage broker. We used John Charcol, very helpful. Just after we remortgaged our lender stopped offering expat mortgages, but with recent improvements in UK economic conditions there may be more products on offer to expats. Quote Link to comment Share on other sites More sharing options...
Rupert Posted May 17, 2014 Share Posted May 17, 2014 (edited) Try a mortgage broker. We used John Charcol, very helpful. Just after we remortgaged our lender stopped offering expat mortgages, but with recent improvements in UK economic conditions there may be more products on offer to expats. I just got back from the UK, all the talk was about new rules making mortgages harder to get. I didn't really focus on the details, as I was not looking for a mortgage, but that was a theme I heard a bit. Broker good idea though, they can do the legwork when it is not a straightforward situation like this. Edited May 17, 2014 by Rupert Quote Link to comment Share on other sites More sharing options...
paisleylass Posted May 17, 2014 Share Posted May 17, 2014 Yeah, and the broker would have been free to us if we'd taken out a bigger mortgage, but we only needed a shade over £50k! Quote Link to comment Share on other sites More sharing options...
dxboz Posted May 17, 2014 Share Posted May 17, 2014 A couple of years ago my friend got one through Halifax Building Society a few years before she returned to UK. Didn't have to have income in UK lined up. I think there was a restriction though that she had to return to the UK in two to three years. Quote Link to comment Share on other sites More sharing options...
JocelynD Posted May 17, 2014 Author Share Posted May 17, 2014 Thank you, that's really helpful. We are both self-employed, and my husband will continue to generate a contracted income while in the UK while we establish the business in the UK. I'll definitely contact John Charcol as well as Nat West who I've banked with for years. Quote Link to comment Share on other sites More sharing options...
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