expat mortgage advice needed

ceebeebs

Hi, does anyone know of any lenders who offer expat mortgages? My husband and I have been living away from the UK since 1999 but we want to move back in the next couple of years. Ideally we want to buy a property soon and rent it out until we return. Any advice apreciated!

ceebeebs

I have emailed a couple of mortgage brokers, an estate agent mortgage advisor, and NatWest, and it looks like no lenders are offering expat mortgages unless buyers already own a property, or are at least paying UK tax.

We have not owned property before and as we haven't lived in the UK since 1999 we haven't been paying tax since then! So now we're looking at renting somewhere and buying once we're in the UK. When I rang Natwest they advised that we could qualify for a mortgage as long as we're in fulltime employment and have one months salary in our accounts! I find this hard to believe as we would have no credit history in the UK, though we do have a deposit saved of over £50k. We're looking at houses for max £200k.

I want to check to see if we have a credit history but havent had a UK address for over 12 years. Can I put my old address from 1999?

Thanks

nathan_1986

Hi Ceebeebs,

I'm an expat in Australia and have quite recent experience with this.
I had to do a lot of research but eventually managed to secure a mortgage with Halifax.

The purpose of the mortgage is a first time buyer mortgage with right to let. 25% deposit required.

It's worth noting that working for a multinational company (which I do not) could open up a few more lenders to you. This is usually a requirement.

I used a mortgage specialist in this field. Please let me know if you would like me to PM his details.

Good Luck

Nathan

nathan_1986

P.s.

I'm not an expert with checking credit reports. I do know that any credit over 6 years old will not be on your record. So if what you said about not having anything since 1999 I imagine it will just be a blank page.

Also expat mortgages are not usually regulated the same way a standard mortgage is. I'm not even sure you will actually be credit scored? I'm sure the intermediary I used will be able to tell you.

Thanks

Nathan

ceebeebs

Hi Nathan, Thanks so much for this info! Yes if you could PM me your mortgage contact that would be brilliant. Thanks for your help, very much appreciated. Cheers.

sue1958booth

hi
i am an expat in canada with a uk house needing remortgaging, nathan could you pm me your mortgage person as well please thanks

Thrugelmir

sue1958booth wrote: »

hi
i am an expat in canada with a uk house needing remortgaging, nathan could you pm me your mortgage person as well please thanks

Better to start a new thread. As this poster hasn't been seen for some months.