JoeMcC Posted October 20, 2020 Share Posted October 20, 2020 Hi, we currently own a home in the UK and we are living in Oz. We currently have a resident mortgage on our home with a permission to let agreed by our mortgage provider. Our fixed rate period is due to expire soon and our mortgage is about to get really expensive. Can anyone recommend an expat mortgage company that doesn’t require you to work for a multinational company? thanks, joe Quote Link to comment Share on other sites More sharing options...
rammygirl Posted October 21, 2020 Share Posted October 21, 2020 From reading past posts it is really difficult as a non resident. I would say to try and negotiate a better deal with your current provider first. All ex pat buy to let mortgages seem to have higher rates and fees so you may not find anything better. Quote Link to comment Share on other sites More sharing options...
JoeMcC Posted October 22, 2020 Author Share Posted October 22, 2020 Thanks rammygirl. i had an initial screening interview with HSBC expat mortgages which was successful but I’ve got to wait three weeks before I can meet with an actual mortgage person and process the application. But as you say, expat mortgages have significant higher rates than the UK high street Quote Link to comment Share on other sites More sharing options...
Marisawright Posted October 23, 2020 Share Posted October 23, 2020 I hope you are across all the tax implications of owning an investment property in the UK as an Australian resident Quote Link to comment Share on other sites More sharing options...
JoeMcC Posted October 23, 2020 Author Share Posted October 23, 2020 Fortunately as it’s our only home the implications aren’t too bad but certainly not ideal. Quote Link to comment Share on other sites More sharing options...
Marisawright Posted October 23, 2020 Share Posted October 23, 2020 24 minutes ago, JoeMcC said: Fortunately as it’s our only home the implications aren’t too bad but certainly not ideal. You mean in terms of Australian capital gains? Just keep an eye on it, the years go by faster than you expect! But also I hope you've got a depreciation report to reduce your Australian tax on the income. Not easy to get in the UK I know, but well worth doing unless it's a very old property. Quote Link to comment Share on other sites More sharing options...
Kelpie Posted November 14, 2020 Share Posted November 14, 2020 On 21/10/2020 at 05:04, JoeMcC said: Hi, we currently own a home in the UK and we are living in Oz. We currently have a resident mortgage on our home with a permission to let agreed by our mortgage provider. Our fixed rate period is due to expire soon and our mortgage is about to get really expensive. Can anyone recommend an expat mortgage company that doesn’t require you to work for a multinational company? thanks, joe I'm in a similar position. I've got consent to let for now and my fixed rate ends October 2021 when I'll then be on the SVR + 1%. I've seen Liquid Expat Mortgages recommended on the MSE forum so I'll be giving them a try myself next year to change to a BTL mortgage which should hopefully be less expensive. Quote Link to comment Share on other sites More sharing options...
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