Remortgaging while living abroad

northernlad1984

Hi

I have a query about remortgaging while living abroad that I’m hoping people can help me with.

I took out an ordinary UK residential mortgage with Santander in 2011 for the flat I moved in to. I lived there until the end of 2017 when I moved to Sweden with my wife. I am working here and the move is open ended but not necessarily permanent.

At the same time I let out the flat to tenants with consent to let from Santander. I also told them i was moving abroad, but I used my mum’s Uk address for correspondence.

Because at the time there was only a year left on the 5 year fixation period they allowed me to continue on the same deal, ie without making it a buy to let mortgage.

Now the fixation period is ending, I need to convert to a buy to let mortgage and they’ve provided me with the option of a 2 yr fix or tracker (or don’t do anything and go on to the svr).

I’m not sure they’ve properly recorded I’m living abroad, and I don’t know if I’m obliged to tell them again.

Eg here it says Santander mortgages are available only to Uk residents, although these are new deals not remortgaging. And when I search for the word expat on the Santander website it suggests that only Santander jersey provide mortgages to expats...

Not sure what checks they do when remortgaging - maybe they don’t care about the fact that I don’t have a Uk income (other than the rent) as long as I’m paying the mortgage. I have never missed a payment and the rent comfortably covers the mortgage (and my salary in Sweden is similar to my Previous Uk one).

Should I just go ahead with remortgaging and not mention anything, given I told them I was moving abroad a year ago?

Has anyone been in a similar situation and did you renew your mortgage or have to apply for an expat mortgage?

Thanks