We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
moved abroad-cant get uk mortgage!
Comments
-
In business terms i really dont see where the risk is. If the bank needs to reposses the house they can help themselves to the debt without problem as 65% has been paid already . Plus property is in a prime location where it will always be rented, and rent covers twice what the mortgage amount would be! So fustrating.0
-
In business terms i really dont see where the risk is. If the bank needs to reposses the house they can help themselves to the debt without problem as 65% has been paid already . Plus property is in a prime location where it will always be rented, and rent covers twice what the mortgage amount would be! So fustrating.
Lenders don't like the hassle of repossessing. Far easier to lend to landlords in the UK, preferably with property of their own, who are seen as a safer bet.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Lenders do not make much money on mortgages, so if they then have to go to the hassle of taking it back, going through court etc it means they probably do not make any money.
Added to that with any property (BTL or not) there is always the risk that someone could rip anything remotely valuable out of the property (wires, piping, the kitchen) which then means it takes longer to sell and for less.I am a Mortgage AdviserYou 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.0 -
Hi there where are you living at the moment and where exactly is the property in the UK?I am a Mortgage AdviserYou 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.0
-
Why? Are you touting? Joined up in March and just 4 posts today plus profile link spam.expatsmortgages wrote: »Hi there where are you living at the moment and where exactly is the property in the UK?0 -
-
Yes but it is not like we are foreign investors. The property is already ours!not like we are buying a new house. Anyway, wrote this post seeking for ideas i may not have thought off, more tham anything else. Not really seeking opinions but thanks!0
-
In retrospect (and I'm wondering if it is not too late to do it now), you could have re-mortgaged on a residential basis then got consent-to-let when you found your husband being posted abroad.
That would have got around the problem about being overseas borrowers and some lenders are generally sympathetic to being sent overseas for work.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards