Returned from overseas - mortgage?

Hauzen

Hi, I have a quick question that I'd like a bit of advice on if at all possible... I was living overseas for the past seven years and returned to the UK about six months ago - since then we've been back living with family but are in a position now to go and buy a place after having sorted out work (not easy in the current climate!).

We still own our property overseas which is valued at around £120,000, and have a considerable sum of money (as much as £35,000 if needs-be, would rather it was a maximum of £30k) to use as a deposit, and we're looking at a couple of houses around the £80k mark over here. In that case we'd be looking for a mortage of around £50,000 which in theory should be relatively straightforward - the online calculators for places such as Abbey and RBS reckon we could easily get well in excess of that.

My question is though that as neither of us has any real credit history in the UK (partner is non-EU and I moved abroad when I was 21) then do you reckon we'd run into problems securing a mortgage?

herbiesjp

You may well do with limited credit history.

However there are a few options that you could explore, that a good whole of market adviser would be able to discuss with you

WIth a £50k mortgage on an £80k property - that is a very good starting block, and being lower risk lending should be more favourable to lenders.

Hauzen

Thanks for that.. I'll look into setting up a meeting with a whole of market adviser then to see what our options are.