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JocelynD

Looking for Expat Mortgage to buy house before returning to UK

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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.

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Hi and welcome to the forum, I am sure Alan Collett knows the answer


If you are depressed you are living in the past. If you are anxious you are living in the future. If you are at peace you are living in the present.

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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.

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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.


She'll be right!

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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 by Rupert

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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!


She'll be right!

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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.

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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.

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