Living outside the country

new_york_2

Hi all

Just wondering how it works to get a mortgage when you dont live in the country. I live in New York at the minute and hoping to move back and buy a home in the North or Ireland. Can I get a mortgage based on my earning in New York?

Any comments or help would be appreciated.

Thanks

newkiwi

Maybe I've missed something, but if you're moving back when you buy this house, won't your NY income have stopped? So why should a UK lender lend against it?

On the more general point, we're in NZ and looking to buy a property here. We have NZ income and UK property and are just checking out which to borrow against. Looks like we should be able to get/increase a UK mortgage while living in NZ but only because we have the UK property to borrow against and a good relationship with the bank manager still. An NZ lender would not lend to us against a UK property, which is more like the equivalent of what you're after.

newkiwi

I also should have said, we applied for a UK remortgage shortly before moving here, against a UK property. We did it through Charcol, who were aware we were moving, and got us a perfectly legit overseas landlords deal based on the fact that we were in the UK on application but moving later.

They did warn us that if we wanted to remortgage this property later once we were in NZ it would be possible but the rates would be higher.

My advice would be to talk to somebody like Charcol & see what your options are. But you obviously need some income to borrow against which isn't going to stop at the very time you need it. If you're moving back, presumably you'll be getting a UK job - why not wait till then, rent for a few months while you search & get the mortgage in the normal boring way against your new UK job?

Again, apologies if I've missed something in your original post If you're going to be tele-working or something, and can prove income would continue when you moved, they might be flexible enough now to work with that.

Charger_2

If it's a residential mortgage you are after ie you are going to live in it and not rent it out, there are many deals available via income "self-cert" and non-status up to 90% i have been told by my broker