How do I get a UK mortgage for a New Zealand property

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LuckyKiwi
LuckyKiwi Posts: 2 Newbie
in Mortgages & endowments
I am a New Zealander, my partner is English and we want to buy a property in Wellington before going to NZ to live in 3 years. UK interest rates are about half that of NZ so we hoped to secure a mortgage here. At every turn I am told this is not possible - has anyone done this or got any advice?
Thanks!

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  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
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    Do you own a property in the UK?

    If so you could raise some money from that, if you have enough equity in the property
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • LuckyKiwi
    LuckyKiwi Posts: 2 Newbie
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    Unfortunatly not, it is a first purchase for us both.
  • benz
    benz Posts: 112 Forumite
    First Anniversary Combo Breaker
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    If you buy the house now with a NZ mortgage and rent it out until you return, not only is someone else paying the mortgage, you can claim NZ tax relief on your mortgage interest payments, which often means the rental income is tax free - so don't dismiss the idea.
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