Non UK resident mortgage

rjrs0510

Hi there,

I am a teacher and I work abroad for half the year...hence, though I have a UK address and live here for part of the year, I am not a 'UK resident for tax purposes.' I own a house (unencumbered) which I want to rent out. I would like to get a residential mortgage for a property that will become my primary residence. I have a deposit of around 30% saved..however my bank, Nationwide, won't consider me as I am not a UK tax payer. I have spoken to a mortgage broker, and she thinks that Santander might be possible. I get paid in a foreign currency and I send money to my UK account each month. Seemingly Santander deduct 25% from the foreign currency earnings to allow for currency fluctuations. Anyway, does anybody know of any other lenders who might be able to help me, or is my position hopeless. The mortgage I need is of around £90,000 which is about 1.5 times my earnings.

Any constructive advice would be much appreciated.

Thanks!

tvfreek

"I've spoken to a broker and she thinks Santander might be possible"

NO, NO, NO

The broker is supposed to advise you on the product not tell you whether they "think" the lender will accept it.

Either a lender accepts the proposal or they dont - no thinking required.