Tavigal Posted March 18, 2016 Share Posted March 18, 2016 Hi, We have recently moved back to the UK/have a UK bank account/are British citizens/have a UK address/are on the electoral roll etc, however upon speaking to our bank about applying for a mortgage, we have been informed that we must be resident in the UK for 3 years before we can even APPLY for a mortgage, due to new EU ruling that apparently came into effect quite recently. As we don't want to wait in limbo for 3 years before we can apply for a mortgage (to purchase a family home closer to work opportunities to live in, not an investment home of any kind), does anyone know of an offshore facility or similar that might offer a practical working solution for us and for other expats who may encounter this situation? I was aware of the 3 year rule re: Having to pay the international student rate of fees for Uni courses as an expat coming from AU, but was unaware of the mortgage situation... Link to comment Share on other sites More sharing options...
bristolman Posted March 18, 2016 Share Posted March 18, 2016 I would look at others banks as I don't think that is universal. HSBC would be top of my list or Santander. Link to comment Share on other sites More sharing options...
persianharry Posted March 18, 2016 Share Posted March 18, 2016 I don't know if your bank has just got a bit confused? I was aware of the 3 year rule but thought it only applied to non EU nationals. As you are British citizens that shouldn't apply to you. Some banks will apply a rule like this (I believe Nationwide do), but that is just related to not being able to easily track your movements over the last 3 years, not an EU regulation. I'd shop around or try talking to a broker / IFA. Link to comment Share on other sites More sharing options...
VERYSTORMY Posted March 19, 2016 Share Posted March 19, 2016 I was opening by bank account yesterday with Halifax and they wanted to see if I wanted a mortgage now! Being back a week Link to comment Share on other sites More sharing options...
Guest Posted March 19, 2016 Share Posted March 19, 2016 I got a mortgage with the Halifax after being back less than a year but rules do change. I would certainly contact a mortgage broker as this is definitely not a universal rule except for non-EU nationals. Link to comment Share on other sites More sharing options...
Tavigal Posted March 19, 2016 Author Share Posted March 19, 2016 Hi all, thanks for all your responses. The bank clerk seemed adamant we do not meed the requisite residency criteria and even started to do a 'soft' credit check/application on the computer just to make his point - i.e he would not be able to input data into the required field of a UK/EU residential address covering the past 3 years for us and therefore he would be unable to perform a credit check on us. He said it would not be possible to continue the application without this field being populated on the application... Has anyone else recently (this year) returned to the UK after >5years of living in AU and successfully applied for a mortgage here? Thanks again for any feedback/wisdom offered Link to comment Share on other sites More sharing options...
Patphillips47 Posted March 19, 2016 Share Posted March 19, 2016 I know when we returned it the UK after 20 years in Oz the bank manager had to make a few phone calls to get my hubby onto an account I has held for years I often think it's who you talk to the tellers often don't have a clue I asked on in my local,bank when transferring funds to Oz how much my £,s were in $ She replied OH I don't know your probably better than me at that I know that particular lady who was very pleasant and nice had worked in the same branch for about twenty years Ask to see a mortgage adviser they maybe better qualified Link to comment Share on other sites More sharing options...
Chortlepuss Posted March 20, 2016 Share Posted March 20, 2016 My mate who is an IT contractor has just got a buy to let mortgage approved after about 6 months back. She had a good deposit. They didn't give it to her without a fight so it wasn't easy but she got there in the end... I am sure with a decent broker you will find something - you may not get the best deals - good luck! Link to comment Share on other sites More sharing options...
bristolman Posted March 21, 2016 Share Posted March 21, 2016 There seems to be some scaremongering (not deliberate). Don't Base everything on what one bank tells you. Link to comment Share on other sites More sharing options...
sammyjoe Posted March 22, 2016 Share Posted March 22, 2016 Hi, Like others have suggested I would look around. We bank with Natwest and kept our UK account with them open for the 3 1/ 2 years we were in Australia, upon their advice. We have very recently been to find out about potential for getting a mortgage from them and the only stipulation they had was that we must have been in a permanent job in the UK for six months before we can apply. Link to comment Share on other sites More sharing options...
goingbacksoon Posted March 23, 2016 Share Posted March 23, 2016 This article in Expatica says you don't need a UK credit rating http://www.expatica.com/uk/housing/Does-an-expat-need-UK-credit-history-to-obtain-a-UK-mortgage_105478.html. I was born in the UK, but lived in Australia for nearly 30 years and did not keep my UK account. I opened a UK HSBC account about six months before I left, then when I was in the UK went to the branch to change my address and they asked me if I wanted to apply for a mortgage. That was in May last year and I bought a house straight away. So glad that I did as it has saved me so much in rent and the hassle of packing and unpacking! Link to comment Share on other sites More sharing options...
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