annimac76 Posted July 2, 2015 Share Posted July 2, 2015 Hi My mortgage deal in the UK ran out 3 months ago. Back up to SVR. We are renting it out and thought it would be straightforward to move to a buy to let. But our IFA in UK is having trouble sorting it out. One issue seems to be that we'll be away more than a year. We we seem pigeon holes as an expat investor rather than someone who lived in the property and is letting it out while working on a 457. We may switch to PR at some point but haven't got immediate plans to do that. With current exchange rate, I'm having to send $400 a month to cover the gap between rent and mortgage. Please can you help. Annmarie Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted July 2, 2015 Share Posted July 2, 2015 Hi Annmarie I will PM you with a UK Broker's contact details they may be able to assist however I do understand that as a non UK resident you will be quite limited. KR Andy Quote Link to comment Share on other sites More sharing options...
annimac76 Posted July 2, 2015 Author Share Posted July 2, 2015 Hi Andy thank you for your response. I cannot see the message in the private message folder. Quote Link to comment Share on other sites More sharing options...
alien1975 Posted July 2, 2015 Share Posted July 2, 2015 Hi Annmarie I am in the same position. It would be great to hear how you go and if the UK Broker Andy has advised can help. I don't know where to start. Good Luck Elaine Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted July 3, 2015 Share Posted July 3, 2015 PM sent to you Annmarie and also you Elaine, hopefully she can be of some assistance. Andy Quote Link to comment Share on other sites More sharing options...
StevelandWonder Posted July 6, 2015 Share Posted July 6, 2015 PM sent to you Annmarie and also you Elaine, hopefully she can be of some assistance. Andy I would also appreciate being put in contact with anyone who can assist as we are also in the same situation. Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted July 9, 2015 Share Posted July 9, 2015 I would also appreciate being put in contact with anyone who can assist as we are also in the same situation. PM sent Quote Link to comment Share on other sites More sharing options...
Littlesar70 Posted September 7, 2015 Share Posted September 7, 2015 Sorry Andrew, I've just found this thread and I'm glad I'm not the only one! I'm having a nightmare trying to find anyone who will look at re-mortgaging because we have an Australian address! I wish I'd known this before we came out but we only thought we'd stay for 2 years..... Please could you pass on the brokers details? Quote Link to comment Share on other sites More sharing options...
Andrew from Vista Financial Posted September 14, 2015 Share Posted September 14, 2015 PM sent, sorry for delay. Quote Link to comment Share on other sites More sharing options...
Sustain Posted September 20, 2015 Share Posted September 20, 2015 What are the requirements for a buy to let? Might be looking for a London flat to rent out for a few years while down under Suppose a 40% deposit should make it easier? Quote Link to comment Share on other sites More sharing options...
paisleylass Posted September 21, 2015 Share Posted September 21, 2015 We were in this situation a couple of years ago, and managed to remortgage with Lloyds just before they withdrew the product from non-UK residents. It's a tricky situation and I do feel it is harsh on those who never intended to be 'investors', and just want to let their home out while they try living abroad. Good luck to all! Quote Link to comment Share on other sites More sharing options...
Jessthegirl Posted December 1, 2015 Share Posted December 1, 2015 Hi Andrew, please may I also get the brokers details? Thanks in advance, J Quote Link to comment Share on other sites More sharing options...
Natinmelbourne Posted March 29, 2016 Share Posted March 29, 2016 We are in a similar position. Please can I have the brokers details also? Thanks Quote Link to comment Share on other sites More sharing options...
srg73 Posted March 29, 2016 Share Posted March 29, 2016 We received advice from an IFA in UK before leaving......keep your existing deal and simply don't tell them your gone. We were found out after 18 months and due to being a good customer, presenting a very low risk and only requiring < 40% ltv. Our punishment was 1% rate increase. The IFA could find a single deal due to foreign investor rules. S Quote Link to comment Share on other sites More sharing options...
Natinmelbourne Posted March 29, 2016 Share Posted March 29, 2016 We did the same and kept quiet based on advice. 4 years later they are asking for docs to prove our name and address so we are stuck. Our current lender don't do any form of buy to let mortgages so we have no choice but to find another lender. Quote Link to comment Share on other sites More sharing options...
CrunchTime Posted April 7, 2016 Share Posted April 7, 2016 (edited) Hello, We have seen a house we want to purchase on a buy to let basis until we return. Barclays International have said they will do the mortgage for us but we need to have £25k held in their bank account indefinitely! I'd really appreciate any help or advice or broker details! Thanks Edited April 7, 2016 by Vanessa Clarkson Quote Link to comment Share on other sites More sharing options...
em2505 Posted July 14, 2016 Share Posted July 14, 2016 We had this situation just recently- it's been a nightmare and if we'd known how hard it would be to get a mortgage/remortgage when earning in AUD we would have sorted a much longer fixed rate deal whilst in the UK. For some reason, there are VERY few lenders willing to lend to expats living in australia due to some strict financial conduct rules imposed by the aus govt on banks etc. We spoke to 5 brokers- there were only two lenders willing to give us a mortgage, at much higher interest rates and with extortionate fees. The only option is a buy to let offshore expat mortgage if you've already left the UK. Quote Link to comment Share on other sites More sharing options...
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