jonjoemily@gmail.com Posted March 24, 2019 Share Posted March 24, 2019 Hi there, Does anyone have experience with remortgaging a UK property, while based over in Australia? We are looking to remortgage our house in the UK (have almost completed our current mortgage) so we can have some money for a deposit for a house in Australia. First of all is this possible, and second of all can anyone make any good recommendations on companies to approach? Cheers Jo Quote Link to comment Share on other sites More sharing options...
Garym85 Posted April 23, 2019 Share Posted April 23, 2019 Hi Jo, It's a contentious one! I found it really easy to re-mortgage to a better rate and 3 year fixed term by doing a variation of existing mortgage. (It saved me over 120 pounds a month!) If you want to re-mortgage to release equity then that will be far more difficult, It is possible I believe but you would only be able to get to a certain LTV and most likely pay a higher APR. We are a few years down the line and similar position as we own two places- We're most likely going to sell one or both to buy here. 1 Quote Link to comment Share on other sites More sharing options...
MaroubraAndy Posted May 5, 2019 Share Posted May 5, 2019 It’s a difficult one. I lived in Oz for 10 years between 08 and 18 and retained a UK property throughout.. During that time I was never able to obtain either a new mortgage or change product with the existing provider so was essentially stuck on the same product throughout. Fortunately the existing product was very competitive so it didn’t matter too much. 1 Quote Link to comment Share on other sites More sharing options...
le petit roi Posted May 14, 2019 Share Posted May 14, 2019 I was able to re-mortgage my unmortgaged UK property to release equity around the 2007/08 period. I paid it back as my plans changed but was never permitted to repeat that feat again when I tried in 2014. Looking at all the T&C for mortgages, they all specify they are for UK residents only. For suggestions, try going through a mortgage broker or you could try an approach to an international branch of a UK bank based in say the channel islands. 1 Quote Link to comment Share on other sites More sharing options...
jonjoemily@gmail.com Posted June 2, 2019 Author Share Posted June 2, 2019 Thanks all for your help and suggestions. We are still investigating our options and your right its not easy is it! lol Quote Link to comment Share on other sites More sharing options...
chall5 Posted June 3, 2019 Share Posted June 3, 2019 easiest (and maybe only option) is to stay with your current lender. Hopefully they have an equivalent or better deal to switch to Quote Link to comment Share on other sites More sharing options...
Aussiepom Posted July 24, 2020 Share Posted July 24, 2020 On 24/03/2019 at 21:48, jonjoemily@gmail.com said: Hi there, Does anyone have experience with remortgaging a UK property, while based over in Australia? We are looking to remortgage our house in the UK (have almost completed our current mortgage) so we can have some money for a deposit for a house in Australia. First of all is this possible, and second of all can anyone make any good recommendations on companies to approach? Cheers Jo It may be too late but I posted this in 2018: Quote Link to comment Share on other sites More sharing options...
bolus Posted August 8, 2020 Share Posted August 8, 2020 Hey there, I had to remortgage a few years ago. UK lander (First Direct) threw their toys out of the pram when they found out I was abroad and wouldn't re-mortgage. There are lots of very expensive options. Only reasonable one I found was HSBC expat. Their rates aren't as good as UK hughstreet, but they are not 4%+ with huge arrangement fees that some people are offering. HSBC expat are excellent. Only downside is the money you have to keep on deposit. If you find anything better, please post it, I'd be really interested, thanks. Quote Link to comment Share on other sites More sharing options...
Aussiepom Posted August 8, 2020 Share Posted August 8, 2020 27 minutes ago, bolus said: Hey there, I had to remortgage a few years ago. UK lander (First Direct) threw their toys out of the pram when they found out I was abroad and wouldn't re-mortgage. There are lots of very expensive options. Only reasonable one I found was HSBC expat. Their rates aren't as good as UK hughstreet, but they are not 4%+ with huge arrangement fees that some people are offering. HSBC expat are excellent. Only downside is the money you have to keep on deposit. If you find anything better, please post it, I'd be really interested, thanks. see my post above about UK buy to let mortgage solution. I got a UK highstreet mortgage here in Aus, paying a nice low interest rate and 400 quid in fees. Quote Link to comment Share on other sites More sharing options...
Johnnyboy Posted August 13, 2020 Share Posted August 13, 2020 If you remortgage, how can you have money from that property so you can use them in Oz? Maybe release equity but that's different. Anyway, I'd like to know the outcome, hopefully things will work out for you. Quote Link to comment Share on other sites More sharing options...
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