Benny007 0 Posted Wednesday at 18:39 Hi my partner and our 3 kids Are just starting our visa applications to hopefully emigrate to Perth , prob jumping the gun , but anyone put there property they have a mortgage on in Uk on a buy to let and taken equity out of the property , to either use as deposit or live on? Thanks in advance Share this post Link to post Share on other sites
Marisawright 9,492 Posted Wednesday at 22:30 (edited) It's good that you're looking into this now, because if you wait until you're leaving, you'll find most banks won't touch you. The reason is that once you've left the country, you're a foreigner, and most banks don't give mortgages to foreigners. HSBC is one of the few that will do so at a reasonable interest rate. So, the best idea would be to remortgage now to get some equity out of the property. Look for a lender that give you the option to switch to buy-to-let at any time (don't tell them you want it because you're migrating, just say you want the option in the future). There will be a fee to switch. Obviously if you take equity out now, you'll want to invest the money somewhere safe where it will get a good return and you won't be tempted to touch it until you migrate. Edited Wednesday at 22:31 by Marisawright Scot by birth, emigrated 1985 | Aussie husband granted UK spouse visa March 2015, moved to UK May 2015 | Returned to Oz June 2016 My new novel, A Dance With Danger, is due out August 2022 Share this post Link to post Share on other sites
Benny007 0 Posted Saturday at 10:23 Excellent thank you for your reply, yep thought it might be hard to do if, once we get over there . Share this post Link to post Share on other sites
