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Buy house with mortgage in another city

Luke451
Luke451 Posts: 188 Forumite
100 Posts Name Dropper
in Mortgages & endowments
Hi,

I'm planning to buy elsewhere, like 120 miles away from where I currently live.
How would the bank see it? Would be seen as a sort of risk or denied by some "hard coded" policy?

Comments

  • MWT
    MWT Posts: 10,964 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    Luke451 said:
    Hi,

    I'm planning to buy elsewhere, like 120 miles away from where I currently live.
    How would the bank see it? Would be seen as a sort of risk or denied by some "hard coded" policy?
    Residential mortgage or BTL ?



  • Luke451
    Luke451 Posts: 188 Forumite
    100 Posts Name Dropper
    MWT said:
    Luke451 said:
    Hi,

    I'm planning to buy elsewhere, like 120 miles away from where I currently live.
    How would the bank see it? Would be seen as a sort of risk or denied by some "hard coded" policy?
    Residential mortgage or BTL ?




    Normal mortgage, or as you called it, residential mortgage I guess.
  • MWT
    MWT Posts: 10,964 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    Luke451 said:
    MWT said:
    Luke451 said:
    Hi,

    I'm planning to buy elsewhere, like 120 miles away from where I currently live.
    How would the bank see it? Would be seen as a sort of risk or denied by some "hard coded" policy?
    Residential mortgage or BTL ?




    Normal mortgage, or as you called it, residential mortgage I guess.

    If this is connected to a job move and you have the evidence to support it then you should be OK, but a broker can help you navigate the best lenders for your circumstances.

    If this is not where you plan to live at this time then you will encounter issues...

    A bit more detail on what you are planning to do would help others give more useful replies...
  • Luke451
    Luke451 Posts: 188 Forumite
    100 Posts Name Dropper
    MWT said:
    Luke451 said:
    MWT said:
    Luke451 said:
    Hi,

    I'm planning to buy elsewhere, like 120 miles away from where I currently live.
    How would the bank see it? Would be seen as a sort of risk or denied by some "hard coded" policy?
    Residential mortgage or BTL ?




    Normal mortgage, or as you called it, residential mortgage I guess.

    If this is connected to a job move and you have the evidence to support it then you should be OK, but a broker can help you navigate the best lenders for your circumstances.

    If this is not where you plan to live at this time then you will encounter issues...

    A bit more detail on what you are planning to do would help others give more useful replies...

    I work in remote, I can move wherever I want, but if they ask the company approval or something similar, I believe they can provide it...
  • MWT
    MWT Posts: 10,964 Forumite
    10,000 Posts Sixth Anniversary Name Dropper
    Luke451 said:

    I work in remote, I can move wherever I want, but if they ask the company approval or something similar, I believe they can provide it...
    Then you have credible explanation, so I'd contact a good broker as they will know which lenders are more receptive to this sort of situation and see how it goes...

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