First time buy to let - UK citizen from overseas

Daveeoowaveeoo

I was in position to take out a mortgage in the UK then took a job in Hong Kong. I'll be in Hong Kong for the foreseeable future but property is out of the question here. I'm desperate to put my savings in property to get on the ladder.

My two questions are:

Is it possible to get a buy to let mortgage in the UK when I am no longer a UK resident, will be a first time buyer but have very good UK credit history?

Is there anything to stop me buying outright if I have enough capital to do so?

Thanks in advance

mail2z

Most lenders that I have seen insist the borrower is a resident of the UK.

zerog

If/when you have over HK$1million open a HSBC premier account in HK, go to the international banking centre in the Central HQ and use them to open a UK HSBC premier, then they will give you a UK mortgage from HK (provided you pass all the regular credit checks etc)

Buying outright is no problem at all but you should probably view the house and meet the solicitors in person, unless the entire cost of the house and solicitors is less than 5% of your net worth.

Hillbilly2

BIL is UK resident, but currently working in ME.

He (apparently) has secured a mortgage recently. No idea how legit tho!

G_M

Also read:

New Landlords (general information for new or prospective landlords)

Daveeoowaveeoo

Thanks for the advice. I'll keep you updated on my findings. Premier account in hk transfereable to UK, excellent idea.