expat returning

expat_one

We are returning to live in the uk after 12 years and obviously have no credit history, someone did a check and we were told we were a B, is that good.
We now want a mortgage on a property valued at 270000 we have a deposit of 37000 pounds. What are our chances.
we have bank and mortgage payment records from abroad.

Caz3121

what is your income...are you going into new job(s) or transferring with current company? you will probably need an income of around £60k. Could you rent for a period to build up a UK credit history, get on electoral role etc

expat_one

Yes hubby has a job of around 75k a year, dont want to rent as we have pets.
Have spoken to brittania they seemed to think they could get us one, but have heard stories of banks promising lots and giving nothing.
Dont mind paying higher interest rate even.

Mrs_Bumble

Will your husband be on a probationery period when he returns?

Did you maintain a UK bank account whilst abroad?

Who was the mortgage with abroad?

Have you spoken to an independent, whole of market mortgage broker yet?

herbiesjp

Who did the check on you?

Have you mainted credit/bank arrangements in th UK

Did you have a UK correspondence address whilst away?

YOu are looking at over 85% borrowing, which is fine based on your income, however it means taht the choice of lenders will be limited and rates will be higher.

Be careful about applying directly, as too many ex-pats get stung on the credit score front - not the score on Experian etc, but on the score with the lenders' own scoring systems

The used to be relatively straight forward, Bermuda and New Zealand ex-pats being just a few that spring to mind.

However you are probably better off discussing with a whole of market adviser who has dealt with such cases, in order to discuss verbally with lenders, before allowing them to do credit searches which could harm any applications you make.