holypantsbatman Posted March 17, 2015 Share Posted March 17, 2015 Hi all ! We are looking at moving back to the UK next year, and as part of the big plan, we're looking at trying to buy a house while we're still here and rent it out until we get back. Things are proving to be a little difficult on the mortgage front, though, and hoping that someone who jas recently been in the same situation can offer some help and advice ? I say recently because I've realised that things have changed lots over the last few years and expat mortgages are now much more difficult to get. I've seen a couple of companies online who claim that they can help, but as always, at a cost. One that has really caught my eye is Capital Fortune, based in London. Any help that anyone can offer would be appreciated. Thanks ! Link to comment Share on other sites More sharing options...
Marisawright Posted March 17, 2015 Share Posted March 17, 2015 You're brave. Do you have family to actually look at the house before you buy? Link to comment Share on other sites More sharing options...
holypantsbatman Posted March 17, 2015 Author Share Posted March 17, 2015 You're brave. Do you have family to actually look at the house before you buy? Yep. We also know the areas very well having lived there for most of our lives. Link to comment Share on other sites More sharing options...
kellmer Posted May 1, 2015 Share Posted May 1, 2015 There are particular types of mortgages that make it easier for someone in your position e.g. self cert mortgages. The problem you may have with that though is your current address, which is obviously not in the UK. We have recently started thinking about heading back, are you moving back from the Sunshine Coast? Link to comment Share on other sites More sharing options...
lottemarine1 Posted May 26, 2015 Share Posted May 26, 2015 I read that the Australian government don't allow the larger banks to offer expat mortgages to people living in Australia due to some legislation. However, apparently building societies seem to be exempt from this. I think its a lot harder since mid-2014 to find such mortgages now, but i don't think its impossible if you're willing to research and have the patience. Look up Skipton building society, Saffron building society & Newbury building society. The only bank i've heard of offering this is HSBC, but i hear the conditions are pretty strict, you have to be a premier customer, have at least $70K in the bank and pay in US Dollars or Hong Kong currency as its processed via Hong Kong. Link to comment Share on other sites More sharing options...
srh82 Posted May 26, 2015 Share Posted May 26, 2015 I spoke to a company called John Charcol some time ago (http://www.johncharcol.co.uk) about remortgaging our UK rental property from Australia. They were extremely helpful and although in the end I opted to just stay on the standard variable rate and pay off the mortgage, I found this brokerage firm straightforward to deal with. They do charge a small commission but I would not let this put you off talking to them. Link to comment Share on other sites More sharing options...
Huggy75 Posted May 27, 2015 Share Posted May 27, 2015 Whilst researching for a mortgage ourselves as we are moving back next week, I've been given timeframes of between 6 months to 3 years before we can apply - I shall be visiting them all in a couple of weeks with evidence of my 50% deposit and see what they have to say then. Apparently they reckon it's because we'll have no credit rating and they can't check Australian credit references. Link to comment Share on other sites More sharing options...
smoggy Posted May 27, 2015 Share Posted May 27, 2015 Whilst researching for a mortgage ourselves as we are moving back next week, I've been given timeframes of between 6 months to 3 years before we can apply - I shall be visiting them all in a couple of weeks with evidence of my 50% deposit and see what they have to say then. Apparently they reckon it's because we'll have no credit rating and they can't check Australian credit references. Hi Huggy it would be really good to hear your experience, I too have read that and was reducing us to the fact of renting, would be great to hear if you find out options, give us some hope , safe travels, Link to comment Share on other sites More sharing options...
goingbacksoon Posted May 28, 2015 Share Posted May 28, 2015 I moved back to the UK at the beginning of May after 29 years in Australia. I had a mortgage interview with HSBC a week later and was pleasantly surprised when they approved me a mortgage straight away. I opened a UK premier account with them in September last year in Brisbane and they have been really helpful. I have found a house to buy and put in an offer in which has been accepted. Much cheaper than renting here in the South East. Since then I have been offered a full time position so fingers crossed it will all go through OK. I do have a good deposit from the sale of my house in Australia and other cash assets (approximately 60%), so it is definitely worth doing some research if you have a large deposit. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.