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Ex-pat and mortgages
mustardseed6
Posts: 88 Forumite
Basically, ex-pat (63 years old) has been working in the US for the past 20 years and is planning on retiring in the UK in the next year or so. Due to US housing collapse the current mortgage-free home in US is worth only 165K US dollar (about £100K). However, would like to buy a home in UK for about £150K. So need a mortgage of 50K. However, ex-pat has no UK credit history and a US pension of equivalent to £1500 pcm. Do you think he will be able to get a mortgage in the UK? If so, with whom?
Thanks
Thanks
0
Comments
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Why buy and tie up all your money in property ?
Why not look at the many over 50/55s flats available all over the country.
Unless you Have to live in london where rents are sky high ( so much demand) You can get a nice one/two bedroom flat for £400/500 a month0 -
Forgot to mention that the ex-pat is an avid gardener and a flat would be no- go.0
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