Buy to Let - Non Resident

Cintrapark

I am currently working abroad and am a 'non resident'. I have an existing, residential mortgage in the UK. I sought permission two almost 3 years ago to let the property out and they said that I could do so for a maximum of two years.

I spoke to the mortgage provider yesterday and they didn't seem too on top of things. The lady said that I should speak to a personal advisor and inform them that the two years is up so that they can put me on a buy to let mortgage at a much more unfavourable rate. She didn't realise my non resident status. Obviously I'll sit tight until they contact me.

Any ideas what kind of buy to let mortgage I can get and which providers to contact if I'm forced to relinquish my current mortgage?

bigadaj

Probably best to contact a broker who deals with expats. In essence it's you who have to be on top of things, not them, as you will be beaching the terms and conditions of the mortgage. Letting initially is a short term option, the fact you are continuing means its now a business and a commercial.y realistic rate will be applied. Income needs to be declared to hmrc even if you are non resident and you need landlords insurance, certificates etc but assume you already know this.