louise84 Posted July 12, 2014 Share Posted July 12, 2014 Hi, Has anybody managed to get a Buy to let mortgage on their UK home when moving to Oz. I have tried 2 mortgage advisors and worked on the basis of honesty is the best policy and told them my situation and every mortgage company that both advisers use have said they wont go near me because I am moving to Oz. I have seen it in magazines and on the relocation TV programmes that they say to rent your UK house out if you can afford it but never heard of a company that will do it?!?!?! Has anybody had the same situation or managed to get a Buy to let mortgage in my situation?? Or do I simply accidentally forget to mention the fact I am moving to Oz? Please help! Link to comment Share on other sites More sharing options...
srg73 Posted August 6, 2014 Share Posted August 6, 2014 Wow, what a question, I have just checked with an independent broker and there is NOT ONE mortgage lender on the UK market who will knowingly lend if you are offshore. That has just thrown a big spanner in our works!! S Link to comment Share on other sites More sharing options...
Fisher1 Posted August 6, 2014 Share Posted August 6, 2014 Hi I lived in Belgium and Luxembourg for 24 years and tried several times to get a UK mortgage because we wanted to invest in the property market here / provide a home for ourselves in the UK for retirement. It was impossible to get a satisfactory mortgage during all that time. Given that I had a UK bank account which had been running for three years before we left the UK, and that my terms of employment meant that my salary was paid in the UK by a UK govt department, I found the situation astonishing. I also paid UK tax and insurance. Nobody would give me a satisfactory explanation of my pariah status re: mortgages, and it was particularly galling during the last few years when the banks were throwing money at people on 'self certification' which basically meant they took people's word for their annual earnings. I had ample opportunity to lie, given my salary payment and longstanding bank account, but couldn't bring myself to do it - I just couldn't face the probable demand for instant repayment if they found me out. It is such a big upheaval moving to another country (even one that's only a thousand miles away) that you really don't need the extra stress of a big fat lie on your mortgage agreement. I would keep trying to find someone willing to lend to you, but I wouldn't pin my hopes on finding anyone. Good Luck! Link to comment Share on other sites More sharing options...
nic8764 Posted August 6, 2014 Share Posted August 6, 2014 Hi, Has anybody managed to get a Buy to let mortgage on their UK home when moving to Oz. I have tried 2 mortgage advisors and worked on the basis of honesty is the best policy and told them my situation and every mortgage company that both advisers use have said they wont go near me because I am moving to Oz. I have seen it in magazines and on the relocation TV programmes that they say to rent your UK house out if you can afford it but never heard of a company that will do it?!?!?! Has anybody had the same situation or managed to get a Buy to let mortgage in my situation?? Or do I simply accidentally forget to mention the fact I am moving to Oz? Please help! Hi, Have you asked your current mortgage provider if you can rent the property out? Link to comment Share on other sites More sharing options...
Indi Posted August 21, 2014 Share Posted August 21, 2014 Hi, if you look into let to buy not buy to let, this frees up some cash from the house in UK for when you want to buys house in OZ! Link to comment Share on other sites More sharing options...
dxboz Posted August 21, 2014 Share Posted August 21, 2014 As Nic said above you just need to ask your lender can you rent your property out - should be no big deal if you have some equity in it - some might charge a bit higher interest that should be all? Link to comment Share on other sites More sharing options...
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