Getting a mortgage and moving abroad

fishix375

So I've tried to find information on this but can find anything that matches my circumstances. I am looking to buy a house but also plan to go abroad for about a year. I currently live with my dad and my sister and will do in the new property too. They'll carry on living in the new house but the mortgage would only be in my name. I'm just wondering how the mortgage will be affected if I move abroad?

strawberries1

I'm a total novice but I suspect whether or not they pay rent will matter.
Your lender might offer consent to let for 1year and insist on AST. If the lender doesn't give consent then ????

If they don't pay rent and are simply member of your household surely you shouldn't be forced to issue them an AST?

I'm also wondering about this but on different lines. I don't want to loose out on opportunity for foreign experience because of a mortgage.

I hope more experienced ones come by and chime in.

Conrad

Lots of people simply buy a house as normal with no mention of future plans, after all who knows what lays around the corner for any of us...


Imagine for example a Professor with kids buys a home, but then out of the blue is offered a teaching post at MIT in the USA for 2 years - he would just do it and the family might remain behind in the UK house. No one needs to know anything, same with an actor, comedian, wildlife cameraman whatever.

davidmcn

Conrad wrote: »

Imagine for example a Professor with kids buys a home, but then out of the blue is offered a teaching post at MIT in the USA for 2 years - he would just do it and the family might remain behind in the UK house. No one needs to know anything.

The lender needs to know if the borrower is breaching their mortgage conditions though (which typically require that the borrower resides in the property). You can't just insert some relatives and b*gger off.