Guest Posted June 29, 2014 Share Posted June 29, 2014 (edited) Hello not sure this the right section for this please go ahead and move it if not. I was just wondering if anyone has managed to get a mortgage for a U.K. property while still living in Oz. Our situation is my partner in English born i'm Australian. Partner has not lived in U.K. since 1992. Myself have never lived there only had extended stays of up to six months. We plan to move over there in the next five years or so. We'd ideally like to buy a property and rent it out until we are ready to move there. Is it possible to get a mortgage to do this is? Has anyone done this who could advise us on this? Thanks sorry for the long post. Edited June 29, 2014 by Guest Quote Link to comment Share on other sites More sharing options...
toxen Posted June 29, 2014 Share Posted June 29, 2014 Halifax and Natwest told me that this wasn't possible from offshore because they needed proof of UK pasyslips and employment. I'm not sure if any other lenders would offer such mortgages. Quote Link to comment Share on other sites More sharing options...
StevenLozza Posted June 29, 2014 Share Posted June 29, 2014 (edited) You could maybe speak to your Oz bank and ask about buying abroad? I think 1 of the key points is that the rental income can cover the mortgage payments, if it doesn't you'd most probably have a hefty deposit to put down before bring accepted? And of course exchanging $ to £ isnt great. Edited June 29, 2014 by StevenLozza Quote Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2014 Share Posted June 29, 2014 (edited) You could maybe speak to your Oz bank and ask about buying abroad? I think 1 of the key points is that the rental income can cover the mortgage payments, if it doesn't you'd most probably have a hefty deposit to put down before bring accepted? And of course exchanging $ to £ isnt great. Thank you we are planning on talking to our bank however i thought i'd just see if anyone else had actually done this and could offer some insight before we went to them. Yes the exchange rate going that way is not great. Edited June 29, 2014 by Guest Quote Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2014 Share Posted June 29, 2014 There are specific ex-pat mortgages, HSBC do them I believe, Kent Reliance and loads of others - have a google but I would suggest using a specialist broker. Quote Link to comment Share on other sites More sharing options...
Guest Posted June 29, 2014 Share Posted June 29, 2014 There are specific ex-pat mortgages, HSBC do them I believe, Kent Reliance and loads of others - have a google but I would suggest using a specialist broker. Thank you so much. I think in our case the issue will most likely be that fact that i'm not a citizen or resident of the U,K, and my partner hasn't lived there since 1992. We are hopeful that we can get something but not with crazy interest. Luckily we are looking to buy in the North of England so won't be wanting a huge amount. Quote Link to comment Share on other sites More sharing options...
Guest Posted June 30, 2014 Share Posted June 30, 2014 Thank you so much. I think in our case the issue will most likely be that fact that i'm not a citizen or resident of the U,K, and my partner hasn't lived there since 1992. We are hopeful that we can get something but not with crazy interest. Luckily we are looking to buy in the North of England so won't be wanting a huge amount. I don't think you would need to be a citizen for an ex-pat mortgage, the majority of ex-pats wouldn't be (many in Australia are but not world-wide) - the interest rate will be higher I expect than the very low rates in the UK at the moment I expect but they are set to go up anyway now the economy is recovering. Quote Link to comment Share on other sites More sharing options...
Guest Posted June 30, 2014 Share Posted June 30, 2014 I don't think you would need to be a citizen for an ex-pat mortgage, the majority of ex-pats wouldn't be (many in Australia are but not world-wide) - the interest rate will be higher I expect than the very low rates in the UK at the moment I expect but they are set to go up anyway now the economy is recovering. Thank you i was concerned as we have no income in the u.k. only Australian income. We shall see how we go have an appointment to discuss this at our bank next month. Quote Link to comment Share on other sites More sharing options...
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