Non UK resident

paulmrobbins

We are a UK couple, retired, now living permanently in France. We own a flat without any loan on it which we currently rent to tenants. We'd like to raise iro £30k on this flat (value is approx £160k) to give our daughter a deposit to buy. She has a well paid job paid £45k pa - but has no deposit. So far all our efforts have been without success as we are non UK resident. Equity Release, Buy to let and normal mortgages have all drawn a blank:money:. Any ideas?

Thrugelmir

Equity release options are basically non-existant as you are non-resident. One idea could be to sell the investment property to your daughter.

holly_hobby

Presume the flat is in the UK ?

Have you spoke to a french bank ?

As a starter, BNP used to operate in the UK market (in fact they were a panel lender I used to package for early 90s), and had their UK operation based in London. Whether they still operate in the UK mge market I don't know, but it may be worth a search.

Additionally, Santander are a European based bank, with a UK presence - again are they worth a call to ?

Best suggestions I can give I am afraid ... other than tsf ownership to daughter, and she raises a loan on the property (6 mths after transfer if on a mortgage) or a secured personal loan ? (as there will be not mge lender the loan provider securing their interest with land reg shouldn't be an issue - but may be if she later wants to raise a mge on it, as the mge lender will want 1st charge).

Hope this helps

Holly