British expat – difficulty getting mortgage with only 5% deposit

SAB74

Hi, I am a British expat, who is having difficulty getting a mortgage with only 5% deposit.

I have contacted several mortgage brokers, but due to COVID-19, lenders have tightened up on low-deposit mortgages, plus I am unable to show 2- or 3- years UK address. This has meant that I am unable to get a mortgage on a resale house.

I do have a Mortgage Agreement in Principle with a North of England building society, for Help-To-Buy houses with 5% deposit; but if I go this route, I must legally complete before 31 March 2021 (I’m not a first-time buyer). However, there are no affordable Help-To-Buy properties in the area of the South of England, where I am living. So, I would really like to be able to buy a cheaper resale house.

Are there any lenders which would be willing to give me a mortgage, under the following criteria:
         •I am a British citizen, born in England
         •I worked abroad for 8 years & returned to England in January 2020 – so I can only show UK address for 11 months
         •I have been permanently employed with a blue-chip company in England with a good salary, since February 2020
         •My debt-to-income ratio is good (<45%)
         •I only have 5% deposit for a mortgage (95% LTV)

Thanks a lot, SAB74

[Deleted User]

 Give it up and save longer. Even someone with 20yrs uk residence isn't  getting a 5% mortgage right now. 

ACG

Not wanting to be too blunt but there is no chance. 

haras_n0sirrah

There is only one way around this but it is messy

SAB74

Thanks haras_n0sirrah. Would you mind saying what I could do? (Either on this forum, or drop me a message.)
Thanks, SAB74