Overseas resident seeking mortgage

srb-001

I am a UK national living in Bahrain, I'm in a well paid job with a 2 year contract which is renewed annually. I have a UK home valued at GBP350,000 with a small mortgage of GBP15,000. I recently tried to remortgage with a view to raising GBP100,000 to buy a small flat and the only offer I could find was with an International bank which required me to set up an offshore trust? The product seemed to be aimed at "non-doms".

I have now sold this UK home and I want to buy 2 smaller homes, spending say GBP330,000 cash + GBP 100,000 mortgage. Are there any mortgage lenders who match my circumstances?

StuTheDon

srb-001 wrote: »

I am a UK national living in Bahrain, I'm in a well paid job with a 2 year contract which is renewed annually. I have a UK home valued at GBP350,000 with a small mortgage of GBP15,000. I recently tried to remortgage with a view to raising GBP100,000 to buy a small flat and the only offer I could find was with an International bank which required me to set up an offshore trust? The product seemed to be aimed at "non-doms".

I have now sold this UK home and I want to buy 2 smaller homes, spending say GBP330,000 cash + GBP 100,000 mortgage. Are there any mortgage lenders who match my circumstances?

Hi - yes there are. Try speaking to some of the main banks out there - I used to live in Dubai and we got an offshore mortgage for a UK property that has worked out well. Remember though if you do this you are impacted by exchange rates etc, but you can chose which currency the mortgage is in.

You could also get a mortgage from a UK vendor - we used C&G and they lent us money even though we were not in the country - obviously the mortgage is secured so if you have a property it should not be an issue.