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Foreign residents... quick one for the brokers

Charlton_King
Charlton_King Posts: 2,071 Forumite
I've been Money Tipped!
in Mortgages & endowments
Hi

I've been approached by a relative (UK national) who would like to get a BTL mortgage whilst still resident abroad.

Can anyone confirm my feeling that no lenders want to know?

Comments

  • Charlton_King
    Charlton_King Posts: 2,071 Forumite
    I've been Money Tipped!
    I would like to resuscitate this one to see whether there are any thoughts.
  • GMS
    GMS Posts: 5,388 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Do they own any other rental properties in UK?
    I am a Mortgage Adviser
    You 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.
  • Charlton_King
    Charlton_King Posts: 2,071 Forumite
    I've been Money Tipped!
    GMS wrote: »
    Do they own any other rental properties in UK?

    No. First ever purchase. They have a lot of savings which are 'burning a hole in their pockets' and which they wish to invest in this way.
  • koexelek
    koexelek Posts: 7,847 Forumite
    Charlton_King wrote: »
    Hi

    I've been approached by a relative (UK national) who would like to get a BTL mortgage whilst still resident abroad.

    Can anyone confirm my feeling that no lenders want to know?

    Pretty certain that will be the case:(
    I am a Mortgage adviser
    You 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.
  • EMac_2
    EMac_2 Posts: 70 Forumite
    That's fine, get an offshore mortgage from one of the 2 or 3 lenders who offer them, speak to a broker would be my suggestion. Will need about 40% deposit. Best of luck
    I am a Mortgage Adviser. You 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.
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