Expats returning to UK, no income/morgage

blisters

We are due to return to the UK this summer and are looking to obtain a small mortgage. However, at the moment we have no income/employment lined up for our return. We only require a mortgage of approx £40K (approx 20%) as we have the rest in cash. We will also have a cash injection of approx £30k a couple of months after arriving back in the UK, so will virtually be able to pay the loan off then.
Does anyone know of a lender who will lend under this criteria, or an alternative way of approaching it.

CBR600F_2

If you don't mind, and just out of interest - why're you coming back to the UK, and from where?

blisters

We are returning to Devon from France orginally from Staffordshire.

We moved here 2 years ago with our Daughter (was 11 now 13) and whilst france is a great place for a couple with a pension to retire too, its not easy for a young family and its not easy making a living.

beecher2

With no income, you won't be able to get a mortgage. Renting until you get a job, and the £30k would seem sensible.

blisters

Don't need to rent could always buy a cheaper house, its just that we have seen a house we'd like to buy but just need a little more money, one way or another, doesn't have to be a morgage

Itismehonest

Firstly I'm no expert so the following are just my thoughts.

Getting a loan with no income or recent credit history in this country seems unlikely, IMO. If you have kept an account with a UK bank it may help.

Even if you chose to rent you may find it hard to tick all the boxes needed now & I'd look into what you will need to satisfy the utility companies.

As you would, obviously, also need a certain sum over & above the cost of purchasing the house (for all the various legal fees, possible connection charges etc.) the best choice would seem to be to buy cheaper & leave yourself something to live on as claiming benefits may be more complicated than you think if you've been out of the country for a couple of years.