Non-resident UK Bank Account options that don't require massive minimum balance?

[Deleted User]

I don't make the rules up - this is straight from Barclays Mortgages

grumbler

Do they say that it has to be your own account?

[Deleted User]

Why wouldn't it be my account?  how else would I pay the mortgage?

grumbler

E.g. from a friend's account if you have a UK-resident friend

Daliah

Just60 said:

Where are you resident? If in EU, HSBC (UK) basic bank account is open to both UK and EU residents (currently)?

@[Deleted User] what is the reason that you have not acknowledged @Just60's contribution?

[Deleted User]

MitzEclipse said:

Deleted_User said:

grumbler said:

Can you explain why "UK mortgage ... payments cannot come from an e-money institution"?

A CI or IOM bank account won't necessarily be a branch of UK registered bank. Many will be independent or subsidiaries i.e. legally distinct.

Well, for example, Barclays International I can pay a UK mortgage, but I cannot setup Wise or Revolut to pay the UK mortage... it requires a UK bank

In Barclays instance; the International accounts are held with local branches of Barclays Bank PLC.
This isn't the UK high street bank; that is Barclays Bank UK PLC but should be ok for your purposes.
You won't be be regulated in the UK or have access to the UK FSCS with those branches. 

wmb194

Deleted_User said:

MitzEclipse said:

Deleted_User said:

grumbler said:

Can you explain why "UK mortgage ... payments cannot come from an e-money institution"?

A CI or IOM bank account won't necessarily be a branch of UK registered bank. Many will be independent or subsidiaries i.e. legally distinct.

Well, for example, Barclays International I can pay a UK mortgage, but I cannot setup Wise or Revolut to pay the UK mortage... it requires a UK bank

In Barclays instance; the International accounts are held with local branches of Barclays Bank PLC.
This isn't the UK high street bank; that is Barclays Bank UK PLC but should be ok for your purposes.
You won't be be regulated in the UK or have access to the UK FSCS with those branches. 

You'll be covered by the relevant deposit protection scheme in the jurisdiction of the account. From Barclays itself: "Deposits made with Barclays Bank PLC are only covered by the scheme in the jurisdiction where the account is held. Your eligible deposits with Barclays Bank PLC in London are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme, details are available at www.fscs.org.uk."

https://international.barclays.com/banking/

Marchitiello

Although Barclays mortgage may be asking for a “real uk bank account” it may be just an issue with the fact that they want you to pay by DD and if so, the revolut DD facility may be sufficient.