paulhug Posted June 10, 2010 Share Posted June 10, 2010 We have been in Australia 2 years. Does anyone know of any banks that we could remortgage our UK house with? We owe 20% of its value, its rented out and our current lender will not do it! Link to comment Share on other sites More sharing options...
Guest gary12 Posted June 10, 2010 Share Posted June 10, 2010 Paul We used the Coventry Building Society to change to a buy to let mortgage ( we were already with them) they made it really easy, even calling us back! I have to say though, we were not taking on a bigger loan than we had but were in the same position as you with equity in the house. best of luck Michelle Link to comment Share on other sites More sharing options...
paulhug Posted June 10, 2010 Author Share Posted June 10, 2010 Paul We used the Coventry Building Society to change to a buy to let mortgage ( we were already with them) they made it really easy, even calling us back! I have to say though, we were not taking on a bigger loan than we had but were in the same position as you with equity in the house. best of luck Michelle Yeah, thanks but we want to get some equity out of it, changing to a buy-to-let with your current lender is something you have to do anyway in most cases, or ask their permission to let it. It amazes me that i can't find a lender that will let us release some equity. Link to comment Share on other sites More sharing options...
Guest cat woman Posted June 16, 2010 Share Posted June 16, 2010 we went through London and Country mortgage brokers who found us a buy to let remortgage with the Woolwich , it took a few months to get sorted due to having to post original docs to the UK but we finalised ours at the end of last year in order to have a deposit to buy in Oz. Link to comment Share on other sites More sharing options...
Allyboy Posted June 17, 2010 Share Posted June 17, 2010 I was trying recently to release a litlle equity on my mortgage back in the UK. ( I am in oz and renting it out back in glasgow). I was told it couldnt be done as there was a law from Australia saying that you cant take out overseas loans or release extra money from your mortgage. Has anyone done this? I would be interested to know as need to do some housing repairs and would rather just add to my mortgage. Link to comment Share on other sites More sharing options...
Guest Jamesuk Posted June 28, 2010 Share Posted June 28, 2010 Did you manage to get your house remortgaged? If not send me a PM and I'll put you in contact with a friend that will be able to help. James Link to comment Share on other sites More sharing options...
Addy Posted June 28, 2010 Share Posted June 28, 2010 I'd be interested in this too as I have property rented out in the UK. I was told by a UK mortgage broker that if you aren't a UK resident you can't re-mortgage. At the moment, we are with Northern Rock who are charging 5% over base rate for a buy to let mortgage following the GFC and we would like to find out if we could get a better deal. Link to comment Share on other sites More sharing options...
Guest DebsnGaz Posted September 29, 2010 Share Posted September 29, 2010 Did you manage to get your house remortgaged? If not send me a PM and I'll put you in contact with a friend that will be able to help. James Hi I wondered if you know someone who could help we are currently renting out our Uk Property and have equity in it, our mortgage provider Nationwide say we cant remortgage and release the equity because wages are not going into a Uk account. We are not tied with Nationwide as we have just come out of a fixed rate do you know of a building society that would offer this for us Thank you in advance Debs Link to comment Share on other sites More sharing options...
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