Mortgage advice needed please..

krate_2

Hello guys,

I was just wondering if you could help me.

I am currently living in germany and would like to buy a property to live in.
I do not have the 30-40% deposit needed in this country to get a mortgage from a bank here.

I and my partner earn about 22k ( self employed) between us, have no debts and 10k deposit saved.

My question is this; would I be able to get a mortgage in the UK for a property here? my father ( mortage all paid up) has offered to sign as a guarantor also.

many thanks.

Joe_Bloggs

@Krate
How would you earn money if you moved to the UK ? You would need a track record of employment or earnings to satisfy a lender. House prices are very high in the UK. The average is close to £187,000. Some say there is a housing shortage, others say there is too much demand. The UK is not the in the Euro zone. Our Bank of England interest rate is 4.5% when European Central Bank rate is 2.75%. Hence mortgages are more expensive.

Are you making the most of your skills through your business ?
J_B.

Joe_Bloggs

Sorry Krate I realised you want to get a UK mortgage for a property in Germany. I don't think you can do this. Such business is considered offshore. There are places like the Isle of Man (TT races etc) which are also considered offshore for UK lenders. Have you considered Ireland ? The Bank or Ireland do lend to the UK mortgage market. Many other UK banks are massive multinational financial institutions, that are also in the Euro zone.

I am nothing to do with mortgages or anything financial. Is there free expertise and advice available to those in your country about financial matters ? Are there unrestricted, all of market, euro mortgage brokers that you could consult for advice ?
J_B.

Ian_W

Hi krate,
Like Joe I'm not an expert but there are UK lenders who offer mortgages for overseas property [as Joes says they usually do it thro' an off-shore set-up] but usually they require you to be resident and earning in the UK AFAIK. They are mainly aimed at the holiday home market.
You could try these people:
https://www.mortgagesoverseas.com/
Please note this is not a recommendation, when we wanted to borrow for an overseas property a few years ago I thought their charges were high but they are a long established overseas mortgage brokers.