Abroad 10+ years, moving back to UK to buy

Dawn1966 · 8 June 2017 at 12:02PM

Hi all,
We're having trouble finding a rental as we have dogs, so was wondering what the situation is for getting a mortgage before we get back to the UK.

We've been in living in another EU country for over 10 years now, and the OH has a job to go back to in the UK.

We are on the electoral roll now (for the GE2017) and we kept our bank accounts there, and we have a credit card which we regularly use online.

The area we're moving to has cheap property for sale so we should have a deposit of between 30-50% depending on what we buy.

What would you recommend we do to test the waters so to speak? Or who could we contact to sound out our options?

Thanking in advance.

Guest101 · 8 June 2017 at 12:09PM

Probably contact a broker to see what they suggest - I'd expect a higher rate as the job obviously wont be secure for atleast 2 years

Dawn1966 · 8 June 2017 at 12:35PM

Guest101 wrote: »

Probably contact a broker to see what they suggest - I'd expect a higher rate as the job obviously wont be secure for atleast 2 years

Thanks for that, would getting a guarantor help with the job issue do you think?

Guest101 · 8 June 2017 at 12:36PM

Dawn1966 wrote: »

Thanks for that, would getting a guarantor help with the job issue do you think?

A guarantor on a mortgage? or? - sorry don't understand

Dawn1966 · 8 June 2017 at 12:49PM

Guest101 wrote: »

A guarantor on a mortgage? or? - sorry don't understand

Yes, I'm not sure how it works to be fair but I've heard it mentioned before.

Tim_Bisley · 8 June 2017 at 1:46PM

We did the same, albeit out of the country for less time.

Get a broker, main point. You'll be limited in the lenders that will offer, although we found it didn't affect the rate. Does OH have a probabtion period? If so that could slow things down. We had no probation and got a mortgage offer within 6 months of returning.

Guest101 · 8 June 2017 at 1:51PM

Tim_Bisley wrote: »

We did the same, albeit out of the country for less time.

Get a broker, main point. You'll be limited in the lenders that will offer, although we found it didn't affect the rate. Does OH have a probabtion period? If so that could slow things down. We had no probation and got a mortgage offer within 6 months of returning.

Just remember probation or not, for the first two years can be sacked for any reason at all (except protected characteristic)

Tim_Bisley · 8 June 2017 at 1:54PM

Guest101 wrote: »

Just remember probation or not, for the first two years can be sacked for any reason at all (except protected characteristic)

So you're saying anyone getting a mortgage who is within 2 years of starting a job will pay a higher rate??

Guest101 · 8 June 2017 at 2:01PM

Dawn1966 wrote: »

Yes, I'm not sure how it works to be fair but I've heard it mentioned before.

I'm not aware of such a thing. Sorry

Guest101 · 8 June 2017 at 2:03PM

Tim_Bisley wrote: »

So you're saying anyone getting a mortgage who is within 2 years of starting a job will pay a higher rate??

Yes/No/Maybe? I'm saying that people should consider their circumstances before committing to loans of tens or hundreds of thousands of pounds.

(But yes lenders could charge higher rates for those will less secure employment)

Slinky · 8 June 2017 at 2:09PM

Is it possible for him to come back for say 6 months and rent/share somewhere whilst you stay abroad with the dogs, whilst he looks around for something suitable to either rent or buy rather than you having to sort things from abroad?