Uk resident abroad

dipsldn

Hello everyone,

I am looking to obtain a mortgage of 450k for a property in london. However for the past 4 years I have been living overseas, I am a UK national and have a uk company which has been running for over 2 years now. First year made a slight loss and this year is a profit of a few thousand

What is the best route for me to achieve this mortgage? I currently get around 3k-4K revenue each month and pay myself the minimum with a little dividend. I do retain some money in the company, but not much. Maybe 1k or 2k .I know I could return to the uk and find employment however I would not be able to manage the operations overseas so that may come to a halt. I could use my company to get the mortgage however it would need a larger deposit.

I have a few thousand saved and can ask my parents for more if need be. 

Please advise as I am desperate to buy a house this year. 

dunstonh

Uk resident abroad

Can you clarify as your thread title says you are a UK resident but the post says you are not.   

Are you resident in the EU or outside of the EU?

I am looking to obtain a mortgage of 450k for a property in london.
<snip>
Please advise as I am desperate to buy a house this year. 

Is this a residential property for you or for letting out?
What is the desperation?

dipsldn

dunstonh said:

Uk resident abroad

Can you clarify as your thread title says you are a UK resident but the post says you are not.   

Are you resident in the EU or outside of the EU?

I am looking to obtain a mortgage of 450k for a property in london.
<snip>
Please advise as I am desperate to buy a house this year. 

Is this a residential property for you or for letting out?
What is the desperation?

Hi apologies i meant to write Uk National, I’m outside the EU. Ideally residential but I will continue to live abroad so I think buy to let is the better option. 

I just think I’m reaching an age I should start to have some investment under my name 

steve866

Add your annual dividends and salary together and subtract any existing loans / car payments. Multiply this figure by 4.5 and you'll have a rough idea of what mortgage you could get. You might struggle as most lenders want 3 years of accounts.

You could consider a buy to let and would typically need a 25% deposit.

Neilos9

steve866 said:

Add your annual dividends and salary together and subtract any existing loans / car payments. Multiply this figure by 4.5 and you'll have a rough idea of what mortgage you could get. You might struggle as most lenders want 3 years of accounts.

You could consider a buy to let and would typically need a 25% deposit.

along with an existing residential mortgage, and be resident in the UK.

dimbo61

So the short answer is NO you can't get a £450,000 mortgage from the information you have  told us.
However you don't mention your income and saving you have in the country  you live in.
Speak to a broker who can do a full fact find and maybe help you in the right direction