Returning from abroad - any words from the wise re mortgages, please?

Charlton_King

Can anyone offer any tips/wisdom regarding relocation to the UK for my daughter and her husband?

They are both on very respectable salaries now - but it may be that they will both be with entirely new, UK employers when they finally get here - i.e. their current, foreign employers will not relocate them and they won't move until they have found jobs here.

I am wondering whether their lack of employment history within the UK (they have been abroad for 5 years) will be a problem in obtaining a mortgage.

Likewise, I am concerned that my son-in-law, whilst having potential UK citizenship through marriage, will come up against problems from this angle in mortgage applications.

Any help greatly appreciated.

GMS

Charlton_King wrote: »

Can anyone offer any tips/wisdom regarding relocation to the UK for my daughter and her husband?

They are both on very respectable salaries now - but it may be that they will both be with entirely new, UK employers when they finally get here - i.e. their current, foreign employers will not relocate them and they won't move until they have found jobs here.

I am wondering whether their lack of employment history within the UK (they have been abroad for 5 years) will be a problem in obtaining a mortgage.

Likewise, I am concerned that my son-in-law, whilst having potential UK citizenship through marriage, will come up against problems from this angle in mortgage applications.

Any help greatly appreciated.

Some lenders would be ok with a new job, some wouldn't.

Credit scoring will be an issue as they will not have one!! No 3 year UK address history to search so difficult for a lender to assess credit worthiness.

May be that they need to set up current accounts and ty with the bank for a mortgage several months later.

If your son in law does not have Rights to Reside there will be an issue with him going on to the mortgage.

Complicated case this one. Would be best to speak to a broker.

herbiesjp

Did they keep UK banks/card etc?

Did correspondence come to you for them?

What nationality is SIL, what kind of visa will he have? As he is married, he should be ok - UK citizenship is not required, right to reside is, and he should have this via marriage.

Plenty lenders will look at this, assuming LTV and affordability is OK

koexelek

Another thing to be wary of, is that the majority of lenders these days will not accept a mortgage application , until the applicant has been back in the UK for at least 6 months.
This still applies it the applicants are full UK citizens

Charlton_King

Resurrecting this.

To answer herbie's questions, he's a Ukrainian and she does have a British bank account from student days which is still active.

Do I gather that, generally, it would be better for them to build up 6 months' worth of UK presence via payslips etc. and (possibly rented) address? This would probably fit in anyway with house hunting needs.

herbiesjp

You can do.

However I would suggest talking about their plans asap with a broker - that way any problems can probably be ironed out before getting to the hunting/offering stage.