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buy to let for expats
seahorse3
Posts: 4 Newbie
Hi, I am currently living in New Zealand but own a flat in London which I will be selling soon (hopefully). I want to re-invest the profit made from the sale in 2 cheaper properties "up north", and rent them out while I continue to live overseas. Does anyone have any recommendations for mortgage lenders who will offer me a good deal on buy-to-let repayment mortgages, and won't have a problem with me not being in the country? Thanks
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Comments
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There are lenders that could potentially look at this for you however, as always, it will depend greatly on the property price, and mortgage needed on each property, as well as the expected rental income.
For expats, some lenders will require a larger deposit to be put down.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 -
@seahorse3
I am also expat wroking in ME, i asked for a remortgage and while i got the mortgage, i did not qualify for the product i wanted!
Anyway i was advised (on the forum) that Natwest & woolwich may consider apps from expat, i tapplied (online) and waiting for their response! Will let you know once i get any response from them.
cheers0 -
Try these links....
http://www.international-mortgage-plans.com/expat_mortgage_rates.htm
http://www.seemoney.co.uk/pages/offshore/expat_mortgages.asp
http://www.mortgagesorter.co.uk/types_mortgages_expatriates_overseas.htmlIn case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:0
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