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Mortgage for home overseas
Raging_Monkey
Posts: 1 Newbie
I am looking to get a morgage soon within the UK, but i would like to use the money for a property in Australia.
can someone please give some information about doing this and is it legal to own a property abroad while living in the UK?
thank you very much for your time.
can someone please give some information about doing this and is it legal to own a property abroad while living in the UK?
thank you very much for your time.
0
Comments
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yes, this is perfectly legal. Are you intending to secure the loan on a UK property or the Australian one?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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If you are looking for an Australian mortgage you will need the services of a specialist foreign mortgage broker.
If you want to raise money on a UK property, then you can remortgage here and buy your property in Australia for cash. In this event, you should consult a whole of market mortgage broker as not all lenders will allow capital raising for property purchase reasons.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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