Mortgages for Crown Servants?

gt94sss2

Can someone tell me how easy it is for a crown servant currently posted overseas to get a mortgage to purchase a UK residential property (and who would you recommend approaching)?

The idea would be to eventually move into the property after the current tour of duty finishes - though that may be 3 years away.. so renting it out in the meantime?

Regards
Sunil

Caladan

Is your formal residence still in the U.K? If so your credit history will be based on that residence unless you've informed your bank otherwise.

Saying that, I imagine underwriters will take into account the fact you've been posted overseas as a servant of the Crown regardless and act accordingly (similar to how Armed Forces Personnel are treated).

gt94sss2

Depends what you mean by formal residence.

As far as the bank and electoral roll is concerned I am still at a UK address rather than a BFPO box but obviously live overseas for most of the year.

As this type of mortgage/circumstances are not usual, I was wondering how difficult it would be to get a mortgage. Also, as well as my basic pay, I get various allowances for being overseas though technically they may not be part of my salary.. and wonder how these would be treated

Regards
Sunil

sleeps

We are nearly in the same situation as you, been back a year now (already own a property) but renting due to relocating. Our Intentions is to keep our existing house, which is being rented out and buy another.

Went to see a Mortgage Broker (Recommended) took all our details, tried to carry out a soft check and the provider weren't able to obtain any information about the BFPO address. Had to obtain a copy of my credit report, as it's not possible for the computer is unable to say YES or NO, so it will have to be manually checked, waiting for the outcome in the next couple of days.