UK citizen living abroad trying to get mortgage in UK

sheryllouise

I have been living and working in Sweden for 5 years and would like to buy a house in the UK for investment and for when I come back for holidays (I'm a teacher so get lots of them!).

My UK bank account had been closed due to non-residents not being able to have a bank account in the UK and it seems that I can not get a mortgage if I am not paid in the UK, or at least paid in sterling.

Any suggestions would be welcome as I have found a perfect property, have a good deposit, but cant seem to get a mortgage anywhere.

Thanks

herbiesjp

You will have options available, assuming you meet lender criteria.

What are the figures you are looking at in terms of purchase price, deposit, income and expected rental income on the property?

Also do you work for a UK company or a multinational company?

The last ones I did were for people in the middle east, so a lot harder to place than someone working in Europe - still plenty of loops, but not as high to jump through.

sheryllouise

hi herbie

Thanks for your reply.

purchase price 195,000
deposit 45,000
income 42,000

I am currently working for a British private school, paid in local currency.

Thanks!

herbiesjp

Is that income figure local currency? Or you have converted to sterling?

duchy

Just as some British banks raise finance for Brits wanting to buy holiday homes abroad -would a Swedish bank not be more helpful to you ?

sheryllouise

herbie - sorry, thats all converted to sterling.

duchy - ooh thanks, hadnt thought of that.

herbiesjp

Sorry - I thought I'd responded to this.

Are those figures set in stone?

You might have options at 70% LTV - subject to criteria.